Harmony Gold Mining (NYSE:HMY) Shares Gap Down - Should You Sell?

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $15.45, but opened at $14.95. Harmony Gold Mining shares last traded at $14.74, with a volume of 941,405 shares trading hands.

Wall Street Analysts Forecast Growth

HMY has been the subject of a number of research analyst reports. Wall Street Zen upgraded Harmony Gold Mining from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Hsbc Global Res raised shares of Harmony Gold Mining from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 17th.

Harmony Gold Mining Price Performance

The company has a market capitalization of $9.25 billion, a P/E ratio of 8.63, a PEG ratio of 0.63 and a beta of 0.98. 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 business has a 50 day simple moving average of $15.36 and a 200-day simple moving average of $12.07.

Institutional Trading of Harmony Gold Mining

Several hedge funds and other institutional investors have recently modified their holdings of HMY. Acadian Asset Management LLC increased its position in Harmony Gold Mining by 4,004.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,460,852 shares of the mining company's stock worth $36,333,000 after purchasing an additional 2,400,889 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after buying an additional 3,806,468 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Harmony Gold Mining by 210.4% in the first quarter. Jones Financial Companies Lllp now owns 18,165 shares of the mining company's stock worth $268,000 after buying an additional 12,312 shares during the last quarter. Banque Transatlantique SA bought a new position in Harmony Gold Mining during the first quarter valued at approximately $659,000. Finally, Advisors Asset Management Inc. lifted its stake in Harmony Gold Mining by 30.2% in the first quarter. Advisors Asset Management Inc. now owns 35,783 shares of the mining company's stock valued at $529,000 after acquiring an additional 8,306 shares during the last quarter. 31.79% of the stock is currently 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.