Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.77, but opened at $10.16. Harmony Gold Mining shares last traded at $10.30, with a volume of 1,300,950 shares changing hands.

Wall Street Analysts Forecast Growth

HMY has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Bank of America began coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They set a “neutral” rating for the company. Finally, StockNews.com cut shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th.

Harmony Gold Mining Trading Up 4.4 %

The firm’s fifty day moving average is $8.91 and its two-hundred day moving average is $9.65. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

Institutional Trading of Harmony Gold Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in shares of Harmony Gold Mining by 3.3% during the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock worth $700,663,000 after purchasing an additional 2,206,537 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Harmony Gold Mining by 76.8% during the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after acquiring an additional 1,162,292 shares in the last quarter. AQR Capital Management LLC boosted its position in Harmony Gold Mining by 63.7% in the second quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after buying an additional 609,971 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Harmony Gold Mining in the fourth quarter valued at approximately $1,804,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Harmony Gold Mining by 27.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock valued at $8,057,000 after purchasing an additional 170,175 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.