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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $17.01, but opened at $16.13. Harmony Gold Mining shares last traded at $16.1360, with a volume of 597,181 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HMY shares. Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. Wall Street Zen lowered Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock Down 5.0%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. The business has a 50-day moving average price of $16.90 and a two-hundred day moving average price of $18.71.

Harmony Gold Mining Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were paid a $0.3124 dividend. This represents a dividend yield of 372.0%. The ex-dividend date of this dividend was Friday, April 24th.

Institutional Investors Weigh In On Harmony Gold Mining

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in Harmony Gold Mining in the third quarter valued at approximately $25,000. TD Private Client Wealth LLC acquired a new position in shares of Harmony Gold Mining in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Harmony Gold Mining in the 4th quarter valued at $26,000. Ascentis Independent Advisors bought a new position in shares of Harmony Gold Mining in the 1st quarter worth $28,000. Finally, Assetmark Inc. boosted its position in shares of Harmony Gold Mining by 907.5% in the 3rd quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after purchasing an additional 1,579 shares during the last quarter. 31.79% of the stock is owned by institutional investors.

About Harmony Gold Mining

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.