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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $12.23, but opened at $11.59. Harmony Gold Mining shares last traded at $11.57, with a volume of 1,292,189 shares.

Wall Street Analysts Forecast Growth

HMY has been the subject of a number of analyst reports. Bank of America initiated coverage on Harmony Gold Mining in a research note on Monday. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upgraded Harmony Gold Mining from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.90 to $8.20 in a research note on Thursday, October 10th.

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 firm has a market cap of $7.22 billion, a PE ratio of 8.30 and a beta of 1.79. The stock has a 50 day simple moving average of $10.16 and a 200-day simple moving average of $9.51.

Harmony Gold Mining Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were given a dividend of $0.042 per share. The ex-dividend date was Friday, October 11th. This represents a dividend yield of 1.2%. Harmony Gold Mining’s payout ratio is 5.76%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Diversify Advisory Services LLC purchased a new position in shares of Harmony Gold Mining during the first quarter valued at about $712,000. SG Americas Securities LLC grew its position in shares of Harmony Gold Mining by 225.6% during the first quarter. SG Americas Securities LLC now owns 108,954 shares of the mining company’s stock valued at $890,000 after purchasing an additional 75,494 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Harmony Gold Mining in the 1st quarter valued at about $2,097,000. Quantbot Technologies LP lifted its holdings in shares of Harmony Gold Mining by 201.9% in the 1st quarter. Quantbot Technologies LP now owns 92,956 shares of the mining company’s stock valued at $759,000 after acquiring an additional 62,169 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Harmony Gold Mining by 19.7% in the 1st quarter. Atomi Financial Group Inc. now owns 17,031 shares of the mining company’s stock valued at $139,000 after acquiring an additional 2,801 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.