Harmony Gold Mining (NYSE:HMY) Stock Price Up 7.8% – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price traded up 7.8% on Friday . The company traded as high as $11.59 and last traded at $11.70. 696,249 shares changed hands during trading, a decline of 86% from the average session volume of 5,136,710 shares. The stock had previously closed at $10.85.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. StockNews.com upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Friday.

Harmony Gold Mining Stock Performance

The company has a market cap of $7.52 billion, a PE ratio of 7.01, a P/E/G 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. The stock’s 50-day simple moving average is $10.42 and its 200 day simple moving average is $10.01.

Hedge Funds Weigh In On Harmony Gold Mining

Large investors have recently bought and sold shares of the company. ABC Arbitrage SA purchased a new position in shares of Harmony Gold Mining in the 4th quarter valued at about $20,229,000. Public Employees Retirement System of Ohio purchased a new position in shares of Harmony Gold Mining in the 3rd quarter valued at about $1,412,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Harmony Gold Mining in the 4th quarter valued at about $923,000. HighTower Advisors LLC increased its holdings in shares of Harmony Gold Mining by 298.5% in the 3rd quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock valued at $525,000 after purchasing an additional 39,237 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Harmony Gold Mining in the 4th quarter valued at about $188,000. Hedge funds and other 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.