Harmony Gold Mining (NYSE:HMY) Stock Price Down 5.9% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Harmony Gold Mining Stock Down 1.7%

The stock’s 50 day moving average is $17.69 and its 200 day moving average is $17.72.

Harmony Gold Mining Dividend Announcement

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

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in Harmony Gold Mining in the 3rd quarter valued at about $1,131,000. Private Advisor Group LLC acquired a new stake in Harmony Gold Mining in the third quarter valued at about $273,000. Ieq Capital LLC boosted its stake in shares of Harmony Gold Mining by 137.0% in the 3rd quarter. Ieq Capital LLC now owns 31,249 shares of the mining company’s stock valued at $554,000 after purchasing an additional 18,061 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Harmony Gold Mining by 164.7% during the third quarter. Global Retirement Partners LLC now owns 3,886 shares of the mining company’s stock worth $69,000 after buying an additional 2,418 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Harmony Gold Mining by 43.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 41,050 shares of the mining company’s stock worth $727,000 after acquiring an additional 12,481 shares during the last quarter. Institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.