Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.46, but opened at $14.79. Harmony Gold Mining shares last traded at $14.57, with a volume of 860,197 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on HMY. StockNews.com raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Hsbc Global Res raised shares of Harmony Gold Mining from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 17th.

Harmony Gold Mining Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The firm has a market capitalization of $9.76 billion, a P/E ratio of 9.09, a PEG ratio of 0.63 and a beta of 1.01. The company has a 50-day simple moving average of $14.83 and a two-hundred day simple moving average of $11.64.

Harmony Gold Mining Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, April 11th were given a dividend of $0.1245 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a dividend yield of 0.9%. This is a boost from Harmony Gold Mining’s previous semi-annual dividend of $0.04. Harmony Gold Mining’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in HMY. Goldman Sachs Group Inc. boosted its holdings in Harmony Gold Mining by 215.7% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after acquiring an additional 3,806,468 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Harmony Gold Mining during the 4th quarter worth approximately $20,229,000. Renaissance Technologies LLC acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $11,903,000. Amundi increased its holdings in shares of Harmony Gold Mining by 88.9% in the first quarter. Amundi now owns 2,113,411 shares of the mining company’s stock valued at $30,961,000 after purchasing an additional 994,888 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Harmony Gold Mining by 59.5% in the 4th quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company’s stock worth $21,635,000 after acquiring an additional 982,740 shares during the last quarter. 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.