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 Wednesday . The stock had previously closed at $12.05, but opened at $11.72. Harmony Gold Mining shares last traded at $11.80, with a volume of 867,276 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HMY. StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th. JPMorgan Chase & Co. increased 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 report on Tuesday, November 12th.

Harmony Gold Mining Price Performance

The stock’s 50 day moving average is $10.56 and its two-hundred day moving average is $10.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The stock has a market capitalization of $7.58 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85.

Harmony Gold Mining Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 11th will be paid a $0.1245 dividend. This represents a yield of 0.9%. 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. Harmony Gold Mining’s dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new position in shares of Harmony Gold Mining in the third quarter valued at approximately $501,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Harmony Gold Mining in the third quarter valued at $210,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Harmony Gold Mining during the 3rd quarter worth $192,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Harmony Gold Mining by 27.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock worth $8,057,000 after purchasing an additional 170,175 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in Harmony Gold Mining in the third quarter valued at about $241,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.