Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Should You Sell?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.05, but opened at $11.72. Harmony Gold Mining shares last traded at $11.80, with a volume of 867,276 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HMY shares. JPMorgan Chase & Co. lifted their price objective on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Trading Down 1.0 %

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85. The business has a 50 day simple moving average of $10.56 and a 200-day simple moving average of $10.02.

Harmony Gold Mining Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, April 11th. This represents a yield of 0.9%. This is a boost from Harmony Gold Mining’s previous semi-annual dividend of $0.04. Harmony Gold Mining’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in Harmony Gold Mining by 12.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,599,913 shares of the mining company’s stock worth $13,135,000 after purchasing an additional 171,136 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Harmony Gold Mining during the 4th quarter valued at $539,000. GTS Securities LLC acquired a new position in shares of Harmony Gold Mining during the 4th quarter valued at $492,000. Vise Technologies Inc. purchased a new stake in Harmony Gold Mining during the 4th quarter worth $130,000. Finally, Squarepoint Ops LLC purchased a new position in Harmony Gold Mining in the fourth quarter valued at about $279,000. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

About Harmony Gold Mining

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.