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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $20.99, but opened at $19.70. Harmony Gold Mining shares last traded at $19.3630, with a volume of 2,032,647 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on HMY shares. Wall Street Zen upgraded shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Zacks Research lowered Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $21.34 and its two-hundred day moving average is $18.48.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Harmony Gold Mining during the 4th quarter worth about $26,000. TD Private Client Wealth LLC bought a new stake in shares of Harmony Gold Mining during the fourth quarter worth approximately $26,000. Advisory Services Network LLC acquired a new position in Harmony Gold Mining in the third quarter valued at approximately $25,000. Assetmark Inc. boosted its stake in Harmony Gold Mining by 907.5% in the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock valued at $32,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Harmony Gold Mining during the 4th quarter worth $36,000. 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.