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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $8.43, but opened at $8.26. Harmony Gold Mining shares last traded at $8.24, with a volume of 1,548,598 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HMY shares. Bank of America initiated coverage on Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. StockNews.com downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, JPMorgan Chase & Co. increased their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Harmony Gold Mining Trading Down 0.6 %

The company has a market capitalization of $5.28 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.46 and a beta of 1.72. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $9.81 and its 200 day moving average price is $9.66.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Harmony Gold Mining by 3.3% in the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after acquiring an additional 2,206,537 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Harmony Gold Mining by 76.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after purchasing an additional 1,162,292 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Harmony Gold Mining by 111.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after purchasing an additional 977,142 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock worth $14,374,000 after buying an additional 609,971 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Harmony Gold Mining by 27.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock worth $8,057,000 after buying an additional 170,175 shares during the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.