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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Wednesday . The stock had previously closed at $15.84, but opened at $17.74. Harmony Gold Mining shares last traded at $16.7290, with a volume of 2,685,243 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research cut Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen cut Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Price Performance

The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $18.68 and a 200 day moving average of $19.07.

Harmony Gold Mining Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be issued a dividend of $0.3124 per share. The ex-dividend date is Friday, April 24th. This represents a yield of 430.0%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of HMY. Advisory Services Network LLC bought a new position in Harmony Gold Mining during the third quarter worth about $25,000. TD Private Client Wealth LLC bought a new position in Harmony Gold Mining during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in Harmony Gold Mining during the fourth quarter worth about $26,000. Assetmark Inc. boosted its holdings in shares of Harmony Gold Mining by 907.5% during the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after acquiring an additional 1,579 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Harmony Gold Mining during the fourth quarter worth approximately $36,000. 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.