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

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped down before the market opened on Monday . The stock had previously closed at $15.77, but opened at $14.46. Harmony Gold Mining shares last traded at $14.39, with a volume of 1,434,175 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hsbc Global Res raised Harmony Gold Mining from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 17th. 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 Performance

The company has a market capitalization of $8.98 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.63 and a beta of 1.01. 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 business’s fifty day moving average is $14.42 and its two-hundred day moving average is $11.48.

Harmony Gold Mining Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, April 11th were paid a dividend of $0.1245 per share. The ex-dividend date of this dividend was Friday, April 11th. This is a positive change from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a yield of 0.9%. Harmony Gold Mining’s payout ratio is currently 11.24%.

Institutional Investors Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently modified their holdings of HMY. Aprio Wealth Management LLC increased its stake in shares of Harmony Gold Mining by 38.2% in the 4th quarter. Aprio Wealth Management LLC now owns 26,015 shares of the mining company’s stock worth $214,000 after purchasing an additional 7,191 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Harmony Gold Mining in the 4th quarter worth $369,000. Assenagon Asset Management S.A. bought a new position in shares of Harmony Gold Mining during the 4th quarter valued at about $1,804,000. Grove Bank & Trust boosted its holdings in shares of Harmony Gold Mining by 400.0% during the 4th quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock valued at $41,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in shares of Harmony Gold Mining by 18.5% in the 4th quarter. Diversify Wealth Management LLC now owns 103,083 shares of the mining company’s stock valued at $939,000 after acquiring an additional 16,121 shares during the last quarter. 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.