Harmony Gold Mining (NYSE:HMY) Stock Price Down 5.9% – Should You Sell?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price fell 5.9% during trading on Tuesday. The stock traded as low as $16.35 and last traded at $16.5560. Approximately 505,638 shares traded hands during trading, a decline of 88% from the average daily volume of 4,378,101 shares. The stock had previously closed at $17.60.

Analyst Ratings Changes

HMY has been the subject of several analyst reports. Weiss Ratings downgraded shares of Harmony Gold Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Zacks Research raised Harmony Gold Mining to a “hold” rating in a research note on Tuesday, September 8th. Finally, Wall Street Zen upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Harmony Gold Mining Stock Performance

The firm has a 50-day moving average price of $17.81 and a two-hundred day moving average price of $17.79.

Harmony Gold Mining Announces Dividend

The business also recently declared a dividend, which was paid on Monday, October 19th. Investors of record on Friday, October 9th were paid a $0.4611 dividend. This represents a yield of 546.0%. The ex-dividend date of this dividend was Friday, October 9th.

Institutional Investors Weigh In On Harmony Gold Mining

Large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its position in shares of Harmony Gold Mining by 43.7% during the third quarter. Hantz Financial Services Inc. now owns 41,050 shares of the mining company’s stock worth $727,000 after acquiring an additional 12,481 shares during the period. North of South Capital LLP raised its stake in shares of Harmony Gold Mining by 35.5% during the third quarter. North of South Capital LLP now owns 190,990 shares of the mining company’s stock valued at $3,384,000 after acquiring an additional 50,044 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of Harmony Gold Mining in the third quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Harmony Gold Mining in the third quarter valued at approximately $187,000. Finally, Parallel Advisors LLC grew its stake in Harmony Gold Mining by 52.7% in the third quarter. Parallel Advisors LLC now owns 19,246 shares of the mining company’s stock worth $341,000 after purchasing an additional 6,646 shares in the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South African mining company focused on producing gold. Its activities include operating underground and surface mines, processing ore, and exploring for new mineral deposits. The company also produces silver and copper as by-products at some operations. Founded in South Africa in 1950, Harmony has expanded its operations beyond its home country. It operates mines in South Africa and Papua New Guinea, including the Hidden Valley mine in Papua New Guinea, and participates in the Wafi-Golpu copper-gold project through a joint venture.