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

Key Points

• Harmony Gold Mining shares gapped down significantly from a previous close of $20.20 to open at $18.27, with the last traded price at $18.07.
• Analysts have mixed views on the stock, with a mix of ratings leading to an average rating of “Hold” and a consensus price target of $12.20.
• The company announced a semi-annual dividend of $0.0893, which equates to a high dividend yield of 98.0%.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.20, but opened at $18.27. Harmony Gold Mining shares last traded at $18.07, with a volume of 1,775,962 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Harmony Gold Mining in a research note on Wednesday, October 8th. HSBC raised shares of Harmony Gold Mining from a "hold" rating to a "buy" rating in a research note on Thursday, October 9th. Zacks Research cut shares of Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a research note on Monday, September 22nd. Hsbc Global Res raised shares of Harmony Gold Mining from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 9th. Finally, BMO Capital Markets began coverage on shares of Harmony Gold Mining in a research note on Thursday, July 17th. They issued a "market perform" rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.20.

Harmony Gold Mining Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The stock has a market cap of $11.51 billion, a PE ratio of 10.71 and a beta of 0.79. The business has a 50 day moving average price of $16.55 and a two-hundred day moving average price of $15.51.

Harmony Gold Mining Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 10th were given a $0.0893 dividend. The ex-dividend date was Friday, October 10th. This represents a dividend yield of 98.0%. Harmony Gold Mining's payout ratio is presently 8.28%.

Institutional Trading of Harmony Gold Mining

Large investors have recently modified their holdings of the business. Shilanski & Associates Inc. raised its position in Harmony Gold Mining by 3.0% during the 3rd quarter. Shilanski & Associates Inc. now owns 22,909 shares of the mining company's stock valued at $416,000 after purchasing an additional 670 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Harmony Gold Mining by 16.7% during the second quarter. Parallel Advisors LLC now owns 5,494 shares of the mining company's stock valued at $77,000 after buying an additional 788 shares during the period. GAMMA Investing LLC raised its holdings in shares of Harmony Gold Mining by 11.1% during the first quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company's stock valued at $128,000 after acquiring an additional 866 shares in the last quarter. Personal CFO Solutions LLC lifted its stake in Harmony Gold Mining by 4.6% in the second quarter. Personal CFO Solutions LLC now owns 22,767 shares of the mining company's stock worth $318,000 after acquiring an additional 993 shares during the period. Finally, Profund Advisors LLC boosted its holdings in Harmony Gold Mining by 1.9% in the second quarter. Profund Advisors LLC now owns 59,968 shares of the mining company's stock valued at $838,000 after acquiring an additional 1,126 shares in the last quarter. 31.79% of the stock is 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.

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