Harmony Gold Mining (NYSE:HMY) Stock Price Up 7% - Here's Why

Key Points

• Harmony Gold Mining's stock price rose 7% during trading on Monday, reaching a high of $15.31 after closing at $14.22.
• Research analysts have mixed ratings on HMY, with a consensus price target of $12.20, reflecting an average rating of "Hold."
• Institutional investors have increased their stakes significantly in the second quarter, with AdvisorShares Investments LLC raising its position by 16.7%.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) shares were up 7% during trading on Monday . The stock traded as high as $15.31 and last traded at $15.21. Approximately 1,521,235 shares changed hands during trading, a decline of 75% from the average daily volume of 5,992,800 shares. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

HMY has been the topic of a number of research analyst reports. BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a research report on Thursday, July 17th. They issued a "market perform" rating and a $16.00 target price on the stock. Hsbc Global Res raised shares of Harmony Gold Mining from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Harmony Gold Mining has an average rating of "Hold" and a consensus price target of $12.20.

Harmony Gold Mining Trading Up 8.1%

The firm's fifty day moving average is $14.42 and its two-hundred day moving average is $13.68. The firm has a market cap of $9.76 billion, a P/E ratio of 9.10, a PEG ratio of 0.09 and a beta of 0.77. The company has a quick ratio of 1.46, a current ratio of 1.84 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. AdvisorShares Investments LLC raised its position in Harmony Gold Mining by 16.7% in the second quarter. AdvisorShares Investments LLC now owns 108,343 shares of the mining company's stock worth $1,514,000 after acquiring an additional 15,526 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Harmony Gold Mining by 533.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 4,449 shares of the mining company's stock worth $62,000 after buying an additional 3,747 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Harmony Gold Mining in the 2nd quarter worth $3,609,000. Ashton Thomas Private Wealth LLC grew its stake in shares of Harmony Gold Mining by 43.0% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 343,243 shares of the mining company's stock worth $4,795,000 after buying an additional 103,150 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Harmony Gold Mining by 15.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 184,507 shares of the mining company's stock worth $2,578,000 after acquiring an additional 24,779 shares during the last quarter. Institutional investors own 31.79% of the company's stock.

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.

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