Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $15.86, but opened at $17.52. Harmony Gold Mining shares last traded at $17.7180, with a volume of 1,280,087 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Sunday, May 31st. Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a research report on Thursday, April 16th. Finally, Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Harmony Gold Mining presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock Up 9.6%

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 simple moving average is $16.78 and its 200-day simple moving average is $18.77.

Harmony Gold Mining Announces Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC raised its holdings in shares of 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. Parallel Advisors LLC raised its holdings in shares of Harmony Gold Mining by 15.5% in the 1st quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock worth $98,000 after purchasing an additional 852 shares during the period. Compound Planning Inc. raised its holdings in shares of 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. Vise Technologies Inc. raised its holdings in shares of 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. Finally, Personal CFO Solutions LLC raised its holdings in shares of Harmony Gold Mining by 4.9% in the 4th quarter. Personal CFO Solutions LLC now owns 23,980 shares of the mining company’s stock worth $477,000 after purchasing an additional 1,127 shares during the period. Institutional investors own 31.79% of the company’s stock.

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.