Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $15.84, but opened at $14.37. Harmony Gold Mining shares last traded at $14.49, with a volume of 1,271,226 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HMY shares. Hsbc Global Res raised shares of Harmony Gold Mining from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 17th. Wall Street Zen raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Price Performance

The stock’s 50-day moving average is $15.09 and its two-hundred day moving average is $11.79. 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 company has a market capitalization of $9.16 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.63 and a beta of 1.01.

Harmony Gold Mining Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, April 11th were paid a dividend of $0.1245 per share. This is a positive change from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a yield of 0.9%. The ex-dividend date was Friday, April 11th. Harmony Gold Mining’s payout ratio is 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors and hedge funds have recently bought and sold shares of HMY. Jump Financial LLC acquired a new position in Harmony Gold Mining in the fourth quarter valued at approximately $174,000. Raymond James Financial Inc. acquired a new stake in Harmony Gold Mining in the 4th quarter valued at approximately $624,000. Walleye Capital LLC acquired a new position in Harmony Gold Mining during the fourth quarter worth $985,000. ABC Arbitrage SA purchased a new position in Harmony Gold Mining during the 4th quarter valued at about $20,229,000. Finally, Summit Financial LLC acquired a new stake in shares of Harmony Gold Mining during the fourth quarter worth about $1,233,000. 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.