Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Should You Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Monday . The stock had previously closed at $8.65, but opened at $9.28. Harmony Gold Mining shares last traded at $9.23, with a volume of 1,540,429 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HMY shares. StockNews.com cut shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research note on Tuesday, November 12th.

Harmony Gold Mining Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average is $10.28 and its two-hundred day moving average is $9.69.

Harmony Gold Mining Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a dividend of $0.042 per share. This represents a dividend yield of 1.2%. The ex-dividend date was Friday, October 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of Harmony Gold Mining by 3.3% during the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock worth $700,663,000 after acquiring an additional 2,206,537 shares during the period. Tidal Investments LLC bought a new stake in shares of Harmony Gold Mining during the 1st quarter worth about $59,033,000. Wellington Management Group LLP increased its stake in Harmony Gold Mining by 76.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after acquiring an additional 1,162,292 shares during the period. Acadian Asset Management LLC raised its holdings in Harmony Gold Mining by 111.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after acquiring an additional 977,142 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Harmony Gold Mining by 63.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after acquiring an additional 609,971 shares during the period. 31.79% of the stock is currently owned by 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.