Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.72, but opened at $11.34. Harmony Gold Mining shares last traded at $11.04, with a volume of 1,652,632 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on HMY shares. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

Harmony Gold Mining Stock Down 7.6 %

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $9.93 and a two-hundred day moving average price of $9.95.

Institutional Trading of Harmony Gold Mining

Large investors have recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in shares of Harmony Gold Mining in the third quarter valued at $38,000. Grove Bank & Trust grew its holdings in Harmony Gold Mining by 400.0% during the 4th quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after acquiring an additional 4,000 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Harmony Gold Mining by 230.3% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock valued at $48,000 after purchasing an additional 4,081 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Harmony Gold Mining in the 4th quarter worth approximately $75,000. Finally, Quantbot Technologies LP bought a new position in shares of Harmony Gold Mining during the fourth quarter valued at approximately $77,000. Institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

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.