Harmony Gold Mining (NYSE:HMY) Shares Gap Up – What’s Next?
by Doug Wharley · The Cerbat GemHarmony Gold Mining Company Limited (NYSE:HMY – Get Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.84, but opened at $17.74. Harmony Gold Mining shares last traded at $16.7290, with a volume of 2,685,243 shares changing hands.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 14th. Zacks Research downgraded Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Harmony Gold Mining currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.
Get Our Latest Research Report on Harmony Gold Mining
Harmony Gold Mining Stock Down 0.3%
The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. The business’s 50 day simple moving average is $18.34 and its 200-day simple moving average is $19.04.
Harmony Gold Mining Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be issued a $0.3124 dividend. This represents a yield of 430.0%. The ex-dividend date of this dividend is Friday, April 24th.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its stake in shares of Harmony Gold Mining by 210.4% during the first quarter. Jones Financial Companies Lllp now owns 18,165 shares of the mining company’s stock valued at $268,000 after purchasing an additional 12,312 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock valued at $82,289,000 after buying an additional 3,806,468 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Harmony Gold Mining during the 2nd quarter valued at about $171,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Harmony Gold Mining during the 2nd quarter worth about $424,000. Finally, Invesco Ltd. increased its stake in shares of Harmony Gold Mining by 12,337.7% during the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock valued at $66,998,000 after acquiring an additional 4,757,285 shares during the period. Institutional investors and hedge funds own 31.79% of the company’s stock.
About Harmony Gold Mining
Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.
In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.