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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $17.55, but opened at $18.61. Harmony Gold Mining shares last traded at $18.19, with a volume of 1,181,615 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

Harmony Gold Mining Price Performance

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $12.96 and a 200 day simple moving average of $10.92. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42.

Harmony Gold Mining Increases Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

A number of institutional investors have recently modified their holdings of the stock. Grove Bank & Trust raised its holdings in shares of Harmony Gold Mining by 400.0% during the fourth quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after acquiring an additional 4,000 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Harmony Gold Mining by 230.3% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock valued at $48,000 after buying an additional 4,081 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Harmony Gold Mining by 71.4% in the 1st quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company’s stock valued at $70,000 after buying an additional 1,961 shares in the last quarter. Optiver Holding B.V. acquired a new position in Harmony Gold Mining in the fourth quarter worth approximately $75,000. Finally, Quantbot Technologies LP bought a new position in Harmony Gold Mining during the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds 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.