Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) gapped up before the market opened on Tuesday . The stock had previously closed at $13.28, but opened at $14.11. Harmony Gold Mining shares last traded at $14.00, with a volume of 2,115,184 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on HMY. Zacks Research cut shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. BMO Capital Markets began coverage on shares of Harmony Gold Mining in a research report on Thursday, July 17th. They set a “market perform” rating and a $16.00 price target on the stock. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.20.

Harmony Gold Mining Trading Up 7.2%

The firm’s 50 day moving average price is $14.59 and its 200-day moving average price is $14.26. The stock has a market cap of $9.04 billion, a P/E ratio of 8.42, a P/E/G ratio of 0.08 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Colonial Trust Advisors purchased a new position in shares of Harmony Gold Mining during the second quarter valued at approximately $26,000. Spire Wealth Management purchased a new position in shares of Harmony Gold Mining during the first quarter valued at approximately $33,000. First Horizon Advisors Inc. purchased a new position in shares of Harmony Gold Mining during the second quarter valued at approximately $55,000. Hantz Financial Services Inc. raised its holdings in shares of Harmony Gold Mining by 533.8% during the second quarter. Hantz Financial Services Inc. now owns 4,449 shares of the mining company’s stock valued at $62,000 after purchasing an additional 3,747 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Harmony Gold Mining during the second quarter valued at approximately $69,000. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.