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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down prior to trading on Monday . The stock had previously closed at $17.01, but opened at $16.13. Harmony Gold Mining shares last traded at $16.1360, with a volume of 597,181 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on HMY. Zacks Research upgraded shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Trading Down 4.4%

The firm’s fifty day simple moving average is $16.86 and its 200-day simple moving average is $18.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC boosted its holdings in shares of Harmony Gold Mining by 5.0% in the 4th quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company’s stock valued at $256,000 after purchasing an additional 607 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Harmony Gold Mining by 15.5% during the 1st quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock worth $98,000 after buying an additional 852 shares during the last quarter. Compound Planning Inc. increased its holdings in shares of Harmony Gold Mining by 3.5% during the 3rd quarter. Compound Planning Inc. now owns 26,673 shares of the mining company’s stock worth $484,000 after buying an additional 913 shares during the last quarter. Vise Technologies Inc. raised its position in shares of Harmony Gold Mining by 4.5% in the 4th quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company’s stock worth $478,000 after buying an additional 1,030 shares during the period. Finally, Personal CFO Solutions LLC raised its position in shares of Harmony Gold Mining by 4.9% in the 4th quarter. Personal CFO Solutions LLC now owns 23,980 shares of the mining company’s stock worth $477,000 after buying an additional 1,127 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

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.