Harmony Gold Mining (NYSE:HMY) Shares Gap Down – What’s Next?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped down prior to trading on Wednesday. The stock had previously closed at $17.32, but opened at $16.24. Harmony Gold Mining shares last traded at $16.4540, with a volume of 1,913,707 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on HMY shares. Wall Street Zen raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Harmony Gold Mining in a research note on Friday, July 17th. Finally, Zacks Research raised shares of Harmony Gold Mining to a “hold” rating in a research report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Harmony Gold Mining Stock Performance

The stock’s 50-day simple moving average is $19.40 and its 200 day simple moving average is $17.30.

Harmony Gold Mining Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, October 19th. Investors of record on Friday, October 9th will be given a $0.4611 dividend. The ex-dividend date is Friday, October 9th. This represents a yield of 548.0%.

Institutional Investors Weigh In On Harmony Gold Mining

A number of institutional investors have recently added to or reduced their stakes in HMY. Renaissance Technologies LLC raised its stake in shares of Harmony Gold Mining by 46.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,718,320 shares of the mining company’s stock worth $26,411,000 after buying an additional 542,200 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Harmony Gold Mining by 22.0% in the first quarter. Sei Investments Co. now owns 906,906 shares of the mining company’s stock valued at $13,939,000 after buying an additional 163,409 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Harmony Gold Mining by 18.6% during the first quarter. Public Employees Retirement System of Ohio now owns 553,186 shares of the mining company’s stock worth $8,502,000 after acquiring an additional 86,827 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Harmony Gold Mining by 2.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 400,574 shares of the mining company’s stock worth $6,157,000 after acquiring an additional 9,089 shares in the last quarter. Finally, U S Global Investors Inc. raised its position in Harmony Gold Mining by 49.4% in the first quarter. U S Global Investors Inc. now owns 397,947 shares of the mining company’s stock worth $6,116,000 after acquiring an additional 131,538 shares in the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South African-based gold producer engaged in the exploration, extraction, processing and refining of gold. The company operates a portfolio of underground and surface mines, supported by related processing facilities and exploration activities.

Harmony’s operations are primarily located in South Africa, with additional assets in Papua New Guinea. Its international portfolio includes the Hidden Valley open-pit gold and silver mine, while the company also participates in the Wafi-Golpu copper-gold development project in Papua New Guinea.