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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down prior to trading on Monday. The stock had previously closed at $18.97, but opened at $17.86. Harmony Gold Mining shares last traded at $17.9660, with a volume of 562,588 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. Zacks Research raised Harmony Gold Mining to a “hold” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings restated 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 assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Harmony Gold Mining Stock Down 6.3%

The stock’s fifty day moving average price is $19.07 and its 200-day moving average price is $17.18. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 0.03.

Harmony Gold Mining Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, October 19th. Stockholders of record on Friday, October 9th will be paid a $0.4611 dividend. This represents a dividend yield of 481.0%. The ex-dividend date of this dividend is Friday, October 9th.

Institutional Trading of Harmony Gold Mining

Large investors have recently bought and sold shares of the business. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Harmony Gold Mining in the 4th quarter worth approximately $36,000. Ascentis Independent Advisors purchased a new stake in shares of Harmony Gold Mining in the first quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Harmony Gold Mining in the first quarter valued at approximately $33,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at approximately $34,000. Finally, Parallel Advisors LLC increased its holdings in shares of Harmony Gold Mining by 15.5% in the first quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock valued at $98,000 after purchasing an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South African gold producer headquartered in Randfontein, South Africa. The company explores for, extracts, and processes gold from underground and surface operations, producing doré bars and gold concentrate for sale to refiners. Harmony is listed on the Johannesburg Stock Exchange and its American depositary shares trade on the New York Stock Exchange under the symbol HMY.

Harmony’s operations are primarily located in South Africa, where its assets include the Mponeng, Doornkop, Kusasalethu, and Tshepong operations, as well as surface retreatment and tailings-processing businesses.