Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $12.84, but opened at $13.48. Harmony Gold Mining shares last traded at $14.21, with a volume of 2,534,162 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Price Performance

The firm has a market capitalization of $9.03 billion, a P/E ratio of 8.34, a P/E/G ratio of 0.63 and a beta of 1.85. The stock’s 50 day simple moving average is $11.45 and its 200 day simple moving average is $10.25. 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 Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.1245 per share. This represents a yield of 0.9%. This is a boost from Harmony Gold Mining’s previous semi-annual dividend of $0.04. The ex-dividend date is Friday, April 11th. Harmony Gold Mining’s dividend payout ratio is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in Harmony Gold Mining by 5.5% in the fourth quarter. American Century Companies Inc. now owns 3,312,235 shares of the mining company’s stock valued at $27,193,000 after purchasing an additional 171,282 shares during the last quarter. Wellington Management Group LLP increased its position 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 buying an additional 1,162,292 shares in the last quarter. Millennium Management LLC raised its stake in 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 buying an additional 982,740 shares during the last quarter. ABC Arbitrage SA acquired a new stake in Harmony Gold Mining in the fourth quarter worth about $20,229,000. Finally, Mackenzie Financial Corp grew its stake in shares of Harmony Gold Mining by 12.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,599,913 shares of the mining company’s stock worth $13,135,000 after acquiring an additional 171,136 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.