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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down prior to trading on Monday . The stock had previously closed at $17.01, but opened at $16.13. Harmony Gold Mining shares last traded at $16.1360, with a volume of 597,181 shares traded.

Wall Street Analysts Forecast Growth

HMY has been the subject of several research reports. Wall Street Zen cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Saturday. 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 report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Trading Down 5.0%

The business has a 50-day moving average price of $16.90 and a 200-day moving average price of $18.71. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03.

Harmony Gold Mining Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC grew its stake 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 valued at $256,000 after purchasing an additional 607 shares during the period. Parallel Advisors LLC boosted its stake 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 valued at $98,000 after purchasing an additional 852 shares in the last quarter. Compound Planning Inc. grew 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 last quarter. Vise Technologies Inc. increased its position in shares of Harmony Gold Mining by 4.5% during 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 in the last quarter. Finally, Personal CFO Solutions LLC increased its position in shares of Harmony Gold Mining by 4.9% during 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 in the last quarter. 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.