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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $16.86, but opened at $17.78. Harmony Gold Mining shares last traded at $17.7750, with a volume of 2,053,083 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on HMY. Wall Street Zen lowered Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 14th. Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Morgan Stanley upgraded Harmony Gold Mining to an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Price Performance

The company has a fifty day moving average of $17.91 and a two-hundred day moving average of $19.02. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.

Harmony Gold Mining Announces Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in Harmony Gold Mining by 48.2% in the 3rd quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company’s stock worth $105,916,000 after purchasing an additional 1,910,028 shares during the last quarter. FIL Ltd bought a new position in Harmony Gold Mining in the 4th quarter worth approximately $111,182,000. Goldman Sachs Group Inc. increased its position in Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after buying an additional 3,806,468 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Harmony Gold Mining by 31.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,042,664 shares of the mining company’s stock worth $60,549,000 after buying an additional 736,233 shares during the period. Finally, Lazard Asset Management LLC increased its position in Harmony Gold Mining by 29.3% in the 4th quarter. Lazard Asset Management LLC now owns 2,988,156 shares of the mining company’s stock worth $59,464,000 after buying an additional 677,479 shares during the period. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.