Harmony Gold Mining (NYSE:HMY) Shares Gap Up - Should You Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $10.00, but opened at $10.21. Harmony Gold Mining shares last traded at $10.08, with a volume of 1,064,703 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HMY shares. JPMorgan Chase & Co. increased 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 report on Tuesday, November 12th. StockNews.com raised shares of Harmony Gold Mining from a "hold" rating to a "buy" rating in a research report on Friday.

Harmony Gold Mining Stock Performance

The stock's fifty day moving average is $10.42 and its two-hundred day moving average is $10.01. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56.

Institutional Investors Weigh In On Harmony Gold Mining

Large investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA bought a new position in Harmony Gold Mining during the 4th quarter valued at $20,229,000. Renaissance Technologies LLC bought a new position in Harmony Gold Mining during the 4th quarter valued at $11,903,000. Wellington Management Group LLP boosted its stake in Harmony Gold Mining by 76.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company's stock valued at $27,219,000 after acquiring an additional 1,162,292 shares during the last quarter. Millennium Management LLC boosted its stake in Harmony Gold Mining by 59.5% during the 4th quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company's stock valued at $21,635,000 after acquiring an additional 982,740 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Harmony Gold Mining by 274.0% during the 4th quarter. Two Sigma Investments LP now owns 498,405 shares of the mining company's stock valued at $4,092,000 after acquiring an additional 365,132 shares during the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

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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.