Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Time to Sell?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $17.16, but opened at $16.65. Harmony Gold Mining shares last traded at $17.10, with a volume of 2,204,800 shares changing hands.

Wall Street Analysts Forecast Growth

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

Harmony Gold Mining Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $12.42 and a 200 day moving average of $10.67. The company has a market capitalization of $10.84 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42.

Harmony Gold Mining Increases Dividend

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

Hedge Funds Weigh In On Harmony Gold Mining

Several institutional investors have recently bought and sold shares of HMY. FMR LLC raised its position in shares of Harmony Gold Mining by 522.6% during the 3rd quarter. FMR LLC now owns 38,620 shares of the mining company’s stock valued at $393,000 after buying an additional 32,417 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Harmony Gold Mining during the third quarter valued at approximately $528,000. HighTower Advisors LLC lifted its stake 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 during the last quarter. MML Investors Services LLC boosted its holdings in shares of Harmony Gold Mining by 212.5% in the 3rd quarter. MML Investors Services LLC now owns 31,405 shares of the mining company’s stock worth $319,000 after purchasing an additional 21,356 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Harmony Gold Mining during the 3rd quarter valued at approximately $1,412,000. 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.