Harmony Gold Mining (NYSE:HMY) Trading Down 9.6% – Time to Sell?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) traded down 9.6% during trading on Friday . The company traded as low as $15.73 and last traded at $15.6980. 2,216,547 shares were traded during trading, a decline of 57% from the average session volume of 5,197,427 shares. The stock had previously closed at $17.37.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HMY shares. Wall Street Zen lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Price Performance

The company’s 50-day moving average is $16.46 and its two-hundred day moving average is $18.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54.

Harmony Gold Mining Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in shares of 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 fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Harmony Gold Mining in the fourth quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new position in shares of Harmony Gold Mining in the first quarter valued at approximately $28,000. Finally, Assetmark Inc. increased its stake in shares of Harmony Gold Mining by 907.5% in the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock valued at $32,000 after buying an additional 1,579 shares during the period. Institutional investors and hedge funds own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.