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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $16.86, but opened at $17.78. Harmony Gold Mining shares last traded at $17.7750, with a volume of 2,053,083 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HMY. Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. 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. Finally, Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Harmony Gold Mining presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38. The stock’s 50-day moving average is $17.98 and its 200 day moving average is $19.02.

Harmony Gold Mining Dividend Announcement

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

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its stake in Harmony Gold Mining by 5.0% in the 4th quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company’s stock worth $256,000 after purchasing an additional 607 shares during the period. Shilanski & Associates Inc. boosted its stake in Harmony Gold Mining by 3.0% in the 3rd quarter. Shilanski & Associates Inc. now owns 22,909 shares of the mining company’s stock worth $416,000 after purchasing an additional 670 shares during the period. Signaturefd LLC boosted its stake in Harmony Gold Mining by 5.6% in the 3rd quarter. Signaturefd LLC now owns 16,323 shares of the mining company’s stock worth $296,000 after purchasing an additional 867 shares during the period. Compound Planning Inc. boosted its stake in Harmony Gold Mining by 3.5% in the 3rd quarter. Compound Planning Inc. now owns 26,673 shares of the mining company’s stock worth $484,000 after purchasing an additional 913 shares during the period. Finally, Vise Technologies Inc. boosted its stake in Harmony Gold Mining by 4.5% in the 4th quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company’s stock worth $478,000 after purchasing an additional 1,030 shares during the period. 31.79% of the stock is owned by institutional investors and hedge funds.

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.