Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY) gapped up before the market opened on Wednesday . The stock had previously closed at $12.97, but opened at $14.51. Harmony Gold Mining shares last traded at $14.37, with a volume of 2,392,329 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Stock Up 9.4 %

The firm has a fifty day simple moving average of $12.09 and a 200 day simple moving average of $10.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market cap of $9.01 billion, a PE ratio of 8.41, a PEG ratio of 0.63 and a beta of 1.42.

Harmony Gold Mining Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, April 21st. Investors of record on Friday, April 11th will be issued a $0.1245 dividend. This represents a yield of 0.9%. This is an increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04. The ex-dividend date is Friday, April 11th. Harmony Gold Mining’s payout ratio is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in shares of Harmony Gold Mining by 71.4% in the 1st quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company’s stock worth $70,000 after buying an additional 1,961 shares during the period. Grove Bank & Trust raised its holdings in shares of Harmony Gold Mining by 400.0% in the 4th quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after purchasing an additional 4,000 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Harmony Gold Mining by 230.3% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock worth $48,000 after purchasing an additional 4,081 shares during the period. Optiver Holding B.V. acquired a new position in shares of Harmony Gold Mining in the 4th quarter valued at about $75,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Harmony Gold Mining during the 4th quarter worth about $77,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.