Harmony Gold Mining (NYSE:HMY) Stock Price Down 5.9% - Should You Sell?

Key Points

• Harmony Gold shares fell 5.9% in Tuesday mid-day trading, closing in on $16.56 after a prior close of $17.60. Trading volume was 88% below the average session volume.
• Analyst sentiment is Moderate Buy: two analysts rate the stock Buy and one rates it Hold. Recent rating changes included upgrades from Zacks Research and Wall Street Zen, while Weiss Ratings lowered its rating slightly.
• The company paid a dividend of $0.4611 per share on October 19. Several institutional investors increased their holdings, and institutions collectively owned 31.79% of the stock.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) fell 5.9% during mid-day trading on Tuesday. The company traded as low as $16.35 and last traded at $16.5560. 505,638 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,378,101 shares. The stock had previously closed at $17.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HMY shares. Zacks Research upgraded shares of Harmony Gold Mining to a "hold" rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded Harmony Gold Mining from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Weiss Ratings cut Harmony Gold Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Harmony Gold Mining Trading Down 7.9%

The stock has a 50-day moving average price of $17.81 and a two-hundred day moving average price of $17.79.

Harmony Gold Mining Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, October 19th. Shareholders of record on Friday, October 9th were paid a $0.4611 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a yield of 546.0%.

Institutional Trading of Harmony Gold Mining

Hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Harmony Gold Mining by 43.7% in the third quarter. Hantz Financial Services Inc. now owns 41,050 shares of the mining company's stock worth $727,000 after buying an additional 12,481 shares during the last quarter. North of South Capital LLP boosted its stake in Harmony Gold Mining by 35.5% during the third quarter. North of South Capital LLP now owns 190,990 shares of the mining company's stock worth $3,384,000 after buying an additional 50,044 shares during the period. Gen Wealth Partners Inc bought a new position in Harmony Gold Mining during the third quarter valued at $33,000. Allspring Global Investments Holdings LLC bought a new position in Harmony Gold Mining during the third quarter valued at $187,000. Finally, Parallel Advisors LLC raised its stake in shares of Harmony Gold Mining by 52.7% in the third quarter. Parallel Advisors LLC now owns 19,246 shares of the mining company's stock valued at $341,000 after acquiring an additional 6,646 shares during the period. 31.79% of the stock is owned by hedge funds and other institutional investors.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South African mining company focused on producing gold. Its activities include operating underground and surface mines, processing ore, and exploring for new mineral deposits. The company also produces silver and copper as by-products at some operations. Founded in South Africa in 1950, Harmony has expanded its operations beyond its home country. It operates mines in South Africa and Papua New Guinea, including the Hidden Valley mine in Papua New Guinea, and participates in the Wafi-Golpu copper-gold project through a joint venture.

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