Harmony Gold Mining (NYSE:HMY) Trading Down 3.5% - Time to Sell?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) dropped 3.5% during mid-day trading on Friday . The stock traded as low as $14.83 and last traded at $14.84. Approximately 957,170 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 6,696,007 shares. The stock had previously closed at $15.37.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Harmony Gold Mining from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Hsbc Global Res raised Harmony Gold Mining from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 17th.

Harmony Gold Mining Price Performance

The stock has a market capitalization of $9.25 billion, a PE ratio of 8.63, a PEG ratio of 0.63 and a beta of 0.98. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company's 50 day simple moving average is $15.35 and its 200 day simple moving average is $12.11.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted 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 purchasing an additional 3,806,468 shares in the last quarter. American Century Companies Inc. grew its holdings in Harmony Gold Mining by 14.9% during the 1st quarter. American Century Companies Inc. now owns 3,805,276 shares of the mining company's stock worth $56,204,000 after acquiring an additional 493,041 shares in the last quarter. Millennium Management LLC increased its holdings in Harmony Gold Mining by 59.5% in the fourth quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company's stock valued at $21,635,000 after buying an additional 982,740 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Harmony Gold Mining during the 4th quarter valued at approximately $20,229,000. Finally, Acadian Asset Management LLC lifted its position in shares of 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 buying an additional 2,400,889 shares during the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

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.