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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $17.32, but opened at $16.24. Harmony Gold Mining shares last traded at $16.4540, with a volume of 1,913,707 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Harmony Gold Mining to a “hold” rating in a research note on Tuesday, September 8th. Wall Street Zen raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Harmony Gold Mining has a consensus rating of “Moderate Buy”.

Harmony Gold Mining Stock Down 4.3%

The business has a 50 day simple moving average of $19.36 and a 200-day simple moving average of $17.26.

Harmony Gold Mining Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, October 19th. Investors of record on Friday, October 9th will be given a $0.4611 dividend. The ex-dividend date is Friday, October 9th. This represents a yield of 481.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HMY. QRG Capital Management Inc. boosted its position in shares of Harmony Gold Mining by 17.7% during the second quarter. QRG Capital Management Inc. now owns 18,979 shares of the mining company’s stock worth $289,000 after buying an additional 2,856 shares during the period. Sequoia Financial Advisors LLC increased its position in Harmony Gold Mining by 26.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,212 shares of the mining company’s stock valued at $307,000 after acquiring an additional 4,172 shares during the period. IFP Advisors Inc increased its position in Harmony Gold Mining by 100.2% in the 2nd quarter. IFP Advisors Inc now owns 9,947 shares of the mining company’s stock valued at $151,000 after acquiring an additional 4,978 shares during the period. Nykredit A S bought a new stake in Harmony Gold Mining during the 2nd quarter valued at $613,000. Finally, Corient Private Wealth LP boosted its position in Harmony Gold Mining by 24.7% during the 2nd quarter. Corient Private Wealth LP now owns 23,684 shares of the mining company’s stock worth $360,000 after acquiring an additional 4,684 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 African-based gold producer engaged in the exploration, extraction, processing and refining of gold. The company operates a portfolio of underground and surface mines, supported by related processing facilities and exploration activities.

Harmony’s operations are primarily located in South Africa, with additional assets in Papua New Guinea. Its international portfolio includes the Hidden Valley open-pit gold and silver mine, while the company also participates in the Wafi-Golpu copper-gold development project in Papua New Guinea.