Harmony Gold Mining (NYSE:HMY) Stock Price Up 6.1% – Here’s What Happened

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) rose 6.1% on Thursday . The stock traded as high as $11.88 and last traded at $11.85. Approximately 1,702,436 shares were traded during trading, a decline of 77% from the average daily volume of 7,371,318 shares. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

HMY has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. StockNews.com downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th.

Harmony Gold Mining Trading Down 7.7 %

The stock has a 50-day simple moving average of $9.93 and a 200 day simple moving average of $9.95. 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 has a market cap of $6.87 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 0.63 and a beta of 1.75.

Hedge Funds Weigh In On Harmony Gold Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new stake in Harmony Gold Mining during the 4th quarter worth approximately $20,229,000. Van ECK Associates Corp grew its position in shares of Harmony Gold Mining by 3.3% in the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after purchasing an additional 2,206,537 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $11,903,000. Wellington Management Group LLP grew its position in shares of Harmony Gold Mining by 76.8% in the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after purchasing an additional 1,162,292 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of 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 purchasing an additional 982,740 shares in the last quarter. Institutional investors and hedge funds 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.