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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock 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 traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HMY. Zacks Research cut Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Harmony Gold Mining currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Price Performance

The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average price of $18.68 and a 200-day moving average price of $19.07.

Harmony Gold Mining Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th will be given a $0.3124 dividend. This represents a dividend yield of 430.0%. The ex-dividend date is Friday, April 24th.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $26,000. Advisory Services Network LLC acquired a new stake in shares of Harmony Gold Mining in the third quarter valued at approximately $25,000. Assetmark Inc. raised its position in shares of Harmony Gold Mining by 907.5% in the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock valued at $32,000 after buying an additional 1,579 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $36,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited 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.