Harmony Gold Mining (NYSE:HMY) Shares Gap Down – What’s Next?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $9.63, but opened at $9.33. Harmony Gold Mining shares last traded at $9.29, with a volume of 561,035 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HMY. StockNews.com raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Bank of America began coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised 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.

Harmony Gold Mining Stock Up 0.6 %

The firm has a 50 day moving average price of $10.28 and a two-hundred day moving average price of $9.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56.

Harmony Gold Mining Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.042 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a dividend yield of 1.2%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of Harmony Gold Mining by 3.3% during the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock worth $700,663,000 after acquiring an additional 2,206,537 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of 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 purchasing an additional 1,162,292 shares during the period. Acadian Asset Management LLC lifted its holdings in Harmony Gold Mining by 111.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after purchasing an additional 977,142 shares in the last quarter. AQR Capital Management LLC boosted its stake in Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock worth $14,374,000 after purchasing an additional 609,971 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Harmony Gold Mining during the 1st quarter valued at about $2,097,000. 31.79% of the stock is owned by institutional investors.

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.