Harmony Gold Mining (NYSE:HMY) Stock Price Down 9.6% – Should You Sell?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price traded down 9.6% during trading on Friday . The stock traded as low as $15.73 and last traded at $15.6980. 2,216,547 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 5,197,427 shares. The stock had previously closed at $17.37.

Analyst Ratings Changes

Several equities analysts recently commented on HMY shares. Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. Finally, Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock 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 company’s 50 day moving average is $16.37 and its 200 day moving average is $18.77.

Harmony Gold Mining Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were given a dividend of $0.3124 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a yield of 372.0%.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently bought and sold shares of HMY. FIL Ltd bought a new stake in Harmony Gold Mining during the fourth quarter worth about $111,182,000. Goldman Sachs Group Inc. lifted its position in Harmony Gold Mining by 215.7% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after purchasing an additional 3,806,468 shares during the period. AQR Capital Management LLC lifted its position in Harmony Gold Mining by 286.6% during the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock worth $54,248,000 after purchasing an additional 2,936,552 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Harmony Gold Mining by 7,504.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,306,431 shares of the mining company’s stock worth $41,862,000 after purchasing an additional 2,276,099 shares during the period. Finally, Man Group plc lifted its position in Harmony Gold Mining by 1,801.7% during the second quarter. Man Group plc now owns 1,985,093 shares of the mining company’s stock worth $27,732,000 after purchasing an additional 1,880,708 shares during the period. Institutional investors own 31.79% of the company’s stock.

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.