Harmony Gold Mining (NYSE:HMY) Shares Gap Down - What's Next?

Key Points

• Harmony Gold Mining shares fell 6.3%, opening at $17.86 versus the prior close of $18.97 and last trading near $17.97.
• Analyst sentiment remains positive overall, with recent upgrades from Wall Street Zen and Zacks Research; MarketBeat reports an average rating of “Moderate Buy.”
• The company declared a $0.4611 dividend payable October 19 to shareholders of record October 9, while institutional investors own approximately 31.79% of the stock.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report)'s stock price gapped down prior to trading on Monday. The stock had previously closed at $18.97, but opened at $17.86. Harmony Gold Mining shares last traded at $17.9660, with a volume of 562,588 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HMY shares. Wall Street Zen upgraded Harmony Gold Mining from a "hold" rating to a "buy" rating in a research report on Sunday, September 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of Harmony Gold Mining to a "hold" rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

Harmony Gold Mining Trading Down 6.3%

The company has a quick ratio of 0.64, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $19.07 and a 200 day moving average price of $17.18.

Harmony Gold Mining Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, October 19th. Shareholders of record on Friday, October 9th will be given a $0.4611 dividend. This represents a yield of 481.0%. The ex-dividend date is Friday, October 9th.

Hedge Funds Weigh In On Harmony Gold Mining

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in Harmony Gold Mining by 46.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,718,320 shares of the mining company's stock worth $26,411,000 after acquiring an additional 542,200 shares in the last quarter. Assetmark Inc. raised its position in Harmony Gold Mining by 4,535.7% during the first quarter. Assetmark Inc. now owns 271,653 shares of the mining company's stock worth $4,175,000 after acquiring an additional 265,793 shares during the period. Asset One Wealth Management LLC purchased a new position in Harmony Gold Mining during the fourth quarter valued at $5,311,000. Y Intercept Hong Kong Ltd lifted its holdings in Harmony Gold Mining by 1,118.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 179,237 shares of the mining company's stock valued at $2,755,000 after purchasing an additional 164,523 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Harmony Gold Mining by 22.0% in the first quarter. Sei Investments Co. now owns 906,906 shares of the mining company's stock valued at $13,939,000 after purchasing an additional 163,409 shares during the period. 31.79% of the stock is owned by hedge funds and other institutional investors.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South African gold producer headquartered in Randfontein, South Africa. The company explores for, extracts, and processes gold from underground and surface operations, producing doré bars and gold concentrate for sale to refiners. Harmony is listed on the Johannesburg Stock Exchange and its American depositary shares trade on the New York Stock Exchange under the symbol HMY.

Harmony's operations are primarily located in South Africa, where its assets include the Mponeng, Doornkop, Kusasalethu, and Tshepong operations, as well as surface retreatment and tailings-processing businesses.

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