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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down before the market opened on Tuesday . The stock had previously closed at $8.88, but opened at $8.57. Harmony Gold Mining shares last traded at $8.58, with a volume of 404,861 shares.

Wall Street Analysts Forecast Growth

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

Harmony Gold Mining Trading Down 4.5 %

The business has a 50 day moving average of $9.90 and a 200-day moving average of $9.67. The stock has a market cap of $5.27 billion, a PE ratio of 5.97, a price-to-earnings-growth ratio of 0.46 and a beta of 1.72. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in Harmony Gold Mining in the third quarter valued at $38,000. Ashton Thomas Private Wealth LLC purchased a new stake in Harmony Gold Mining in the second quarter valued at approximately $41,000. Wallace Advisory Group LLC purchased a new position in Harmony Gold Mining during the second quarter worth approximately $94,000. International Assets Investment Management LLC acquired a new position in shares of Harmony Gold Mining in the 3rd quarter valued at $1,035,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Harmony Gold Mining during the 3rd quarter valued at $115,000. 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.