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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $15.86, but opened at $17.52. Harmony Gold Mining shares last traded at $17.7180, with a volume of 1,280,087 shares changing hands.

Analyst Ratings Changes

HMY has been the subject of a number of recent analyst reports. Wall Street Zen raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Sunday, May 31st. Zacks Research raised Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Morgan Stanley upgraded Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Harmony Gold Mining presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Trading Up 1.4%

The company’s 50 day moving average price is $16.84 and its two-hundred day moving average price is $18.76. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.

Harmony Gold Mining Announces Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently modified their holdings of HMY. Ballentine Partners LLC boosted its holdings in Harmony Gold Mining by 5.0% during the 4th quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company’s stock valued at $256,000 after acquiring an additional 607 shares during the period. Parallel Advisors LLC lifted its position in shares of Harmony Gold Mining by 15.5% during the first quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock valued at $98,000 after buying an additional 852 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of Harmony Gold Mining by 3.5% in the 3rd quarter. Compound Planning Inc. now owns 26,673 shares of the mining company’s stock valued at $484,000 after buying an additional 913 shares in the last quarter. Vise Technologies Inc. grew its position in shares of Harmony Gold Mining by 4.5% in the 4th quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company’s stock worth $478,000 after buying an additional 1,030 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its stake in shares of Harmony Gold Mining by 4.9% during the 4th quarter. Personal CFO Solutions LLC now owns 23,980 shares of the mining company’s stock worth $477,000 after acquiring an additional 1,127 shares in the last quarter. 31.79% of the stock is currently owned by hedge funds and other 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.