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

Key Points

• Harmony Gold Mining shares gapped higher, opening at $20.57 versus the prior close of $19.45, and last traded near $20.41 on volume of about 1.34 million shares.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus from MarketBeat: one Strong Buy, two Buy and two Hold ratings. Recent changes included upgrades by Zacks Research and downgrades by Wall Street Zen.
• Institutional ownership stands at 31.79%, with several investors increasing their stakes during the second quarter. The stock’s 50-day and 200-day moving averages are $17.53 and $17.31, respectively.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $19.45, but opened at $20.57. Harmony Gold Mining shares last traded at $20.4130, with a volume of 1,341,393 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on HMY. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Harmony Gold Mining in a research note on Friday, July 17th. Zacks Research raised shares of Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Harmony Gold Mining from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Harmony Gold Mining Stock Performance

The business has a 50-day moving average of $17.53 and a two-hundred day moving average of $17.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.64 and a current ratio of 0.84.

Institutional Trading of Harmony Gold Mining

A number of institutional investors have recently modified their holdings of the company. Corient Private Wealth LP raised its stake in shares of Harmony Gold Mining by 24.7% during the 2nd quarter. Corient Private Wealth LP now owns 23,684 shares of the mining company's stock worth $360,000 after acquiring an additional 4,684 shares in the last quarter. Oakmont Investment Advisors Inc. purchased a new stake in Harmony Gold Mining during the second quarter valued at approximately $351,000. TD Waterhouse Canada Inc. boosted its stake in Harmony Gold Mining by 5.7% in the second quarter. TD Waterhouse Canada Inc. now owns 72,537 shares of the mining company's stock valued at $1,100,000 after acquiring an additional 3,940 shares in the last quarter. Nykredit A S acquired a new stake in Harmony Gold Mining in the second quarter valued at approximately $613,000. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in Harmony Gold Mining by 10.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 103,709 shares of the mining company's stock worth $1,577,000 after purchasing an additional 10,167 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors.

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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