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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $8.65, but opened at $9.28. Harmony Gold Mining shares last traded at $9.23, with a volume of 1,540,429 shares.

Analyst Ratings Changes

HMY has been the topic of a number of research reports. StockNews.com raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America assumed coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Harmony Gold Mining Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $10.28 and a 200-day simple moving average of $9.70.

Harmony Gold Mining Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were given a $0.042 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, October 11th.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new position in Harmony Gold Mining in the first quarter worth $59,033,000. Van ECK Associates Corp lifted its holdings in shares of Harmony Gold Mining by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after purchasing an additional 2,206,537 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Harmony Gold Mining by 76.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after purchasing an additional 1,162,292 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Harmony Gold Mining during the 1st quarter worth $8,171,000. Finally, Acadian Asset Management LLC increased its position in Harmony Gold Mining by 111.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after buying an additional 977,142 shares in the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.