Harmony Gold Mining (NYSE:HMY) Shares Gap Down - What's Next?

Key Points

• Harmony Gold (NYSE:HMY) shares gapped down, opening at $18.50 after a $19.59 close and last trading at $18.20 on a volume of 1,585,417 shares.
• Analysts are mixed — MarketBeat shows a consensus rating of Moderate Buy, but the average target price is $16.00, below the current share price.
• Technically the stock trades below its 50‑day moving average ($21.40) and just under its 200‑day average ($18.98); the company has low leverage (debt‑to‑equity 0.04) and solid liquidity (current ratio 1.72, quick ratio 1.41).

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $19.59, but opened at $18.50. Harmony Gold Mining shares last traded at $18.20, with a volume of 1,585,417 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HMY. Weiss Ratings reissued a "buy (b)" rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. Zacks Research downgraded Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 16th. Finally, Wall Street Zen raised Harmony Gold Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Harmony Gold Mining currently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Harmony Gold Mining Stock Performance

The firm's 50 day moving average price is $21.40 and its 200-day moving average price is $18.98. 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

Several institutional investors and hedge funds have recently made changes to their positions in HMY. Advisory Services Network LLC acquired a new stake in Harmony Gold Mining during the third quarter worth about $25,000. Colonial Trust Advisors bought a new position in Harmony Gold Mining during the second quarter valued at about $26,000. TD Private Client Wealth LLC bought a new stake in shares of Harmony Gold Mining in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Harmony Gold Mining in the 4th quarter worth approximately $26,000. Finally, Assetmark Inc. grew its holdings in shares of Harmony Gold Mining by 907.5% during the 3rd quarter. Assetmark Inc. now owns 1,753 shares of the mining company's stock worth $32,000 after purchasing an additional 1,579 shares in the last quarter. Institutional investors own 31.79% of the company's stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.

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