Harmony Gold Mining (NYSE:HMY) Shares Up 6.4% – What’s Next?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price was up 6.4% during mid-day trading on Friday . The stock traded as high as $9.34 and last traded at $9.16. Approximately 2,583,961 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 5,255,932 shares. The stock had previously closed at $8.61.

Analysts Set New Price Targets

Several research firms recently weighed in on HMY. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. JPMorgan Chase & Co. raised their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Bank of America initiated coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating for the company.

Harmony Gold Mining Price Performance

The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 0.43 and a beta of 1.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $9.03 and its two-hundred day simple moving average is $9.63.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. DGS Capital Management LLC bought a new position in shares of Harmony Gold Mining in the third quarter valued at approximately $139,000. Sanctuary Advisors LLC bought a new position in Harmony Gold Mining in the 3rd quarter valued at $1,526,000. Public Employees Retirement System of Ohio acquired a new position in Harmony Gold Mining in the third quarter worth $1,412,000. MML Investors Services LLC increased its stake in shares of Harmony Gold Mining by 212.5% in the third quarter. MML Investors Services LLC now owns 31,405 shares of the mining company’s stock valued at $319,000 after buying an additional 21,356 shares in the last quarter. Finally, Dorsey Wright & Associates raised its holdings in shares of Harmony Gold Mining by 12.0% in the third quarter. Dorsey Wright & Associates now owns 378,630 shares of the mining company’s stock valued at $3,851,000 after buying an additional 40,592 shares during the last quarter. Institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

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.