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

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $15.84, but opened at $14.37. Harmony Gold Mining shares last traded at $14.49, with a volume of 1,271,226 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Harmony Gold Mining from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Hsbc Global Res upgraded Harmony Gold Mining from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 17th.

Harmony Gold Mining Stock Up 0.6%

The firm's 50-day moving average price is $15.16 and its two-hundred day moving average price is $11.83. The firm has a market cap of $9.35 billion, a PE ratio of 8.72, a P/E/G ratio of 0.63 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56.

Harmony Gold Mining Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, April 11th were given a dividend of $0.1245 per share. The ex-dividend date was Friday, April 11th. This represents a yield of 0.9%. This is an increase from Harmony Gold Mining's previous semi-annual dividend of $0.04. Harmony Gold Mining's dividend payout ratio is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently made changes to their positions in HMY. Goldman Sachs Group Inc. increased its holdings in Harmony Gold Mining by 215.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after acquiring an additional 3,806,468 shares in the last quarter. American Century Companies Inc. increased its holdings in Harmony Gold Mining by 14.9% during the 1st quarter. American Century Companies Inc. now owns 3,805,276 shares of the mining company's stock valued at $56,204,000 after acquiring an additional 493,041 shares in the last quarter. Millennium Management LLC increased its holdings in Harmony Gold Mining by 59.5% during the 4th quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company's stock valued at $21,635,000 after acquiring an additional 982,740 shares in the last quarter. ABC Arbitrage SA purchased a new position in Harmony Gold Mining during the 4th quarter valued at about $20,229,000. Finally, Acadian Asset Management LLC increased its holdings in Harmony Gold Mining by 4,004.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,460,852 shares of the mining company's stock valued at $36,333,000 after acquiring an additional 2,400,889 shares in the last quarter. Hedge funds and other institutional investors own 31.79% of the company's stock.

Harmony Gold Mining Company Profile

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.