Harmony Gold Mining (NYSE:HMY) Shares Gap Down – What’s Next?

by · The Markets Daily

Harmony Gold Mining Company Limited (NYSE:HMY – Get Free Report) 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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HMY shares. Bank of America started coverage on shares of Harmony Gold Mining in a research note on Monday. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upgraded shares of Harmony Gold Mining from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $4.90 to $8.20 in a research report on Thursday, October 10th.

Read Our Latest Report on HMY

Harmony Gold Mining Stock Up 0.7 %

The company has a market cap of $7.33 billion, a PE ratio of 8.34 and a beta of 1.79. 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 firm’s fifty day simple moving average is $10.19 and its 200-day simple moving average is $9.52.

Harmony Gold Mining Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a $0.042 dividend. This represents a dividend yield of 1.2%. The ex-dividend date was Friday, October 11th. Harmony Gold Mining’s dividend payout ratio (DPR) is presently 5.76%.

Hedge Funds Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently modified their holdings of the company. Consolidated Portfolio Review Corp purchased a new position in shares of Harmony Gold Mining during the third quarter valued at approximately $1,187,000. International Assets Investment Management LLC purchased a new position in Harmony Gold Mining during the third quarter worth approximately $1,035,000. Veracity Capital LLC raised its stake in Harmony Gold Mining by 7.9% during the third quarter. Veracity Capital LLC now owns 13,747 shares of the mining company’s stock worth $140,000 after purchasing an additional 1,003 shares during the period. Blue Trust Inc. raised its stake in Harmony Gold Mining by 159.4% during the third quarter. Blue Trust Inc. now owns 40,022 shares of the mining company’s stock worth $407,000 after purchasing an additional 24,592 shares during the period. Finally, Creative Planning raised its stake in Harmony Gold Mining by 3.6% during the third quarter. Creative Planning now owns 59,686 shares of the mining company’s stock worth $607,000 after purchasing an additional 2,061 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

(Get Free Report)

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.

See Also