Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HMY shares. Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Finally, Zacks Research upgraded shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Trading Up 9.6%

The firm’s fifty day moving average price is $16.78 and its two-hundred day moving average price is $18.77. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03.

Harmony Gold Mining Announces Dividend

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

Hedge Funds Weigh In On Harmony Gold Mining

Several institutional investors have recently made changes to their positions in the stock. Ballentine Partners LLC increased its position in shares of Harmony Gold Mining by 5.0% during the fourth quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company’s stock worth $256,000 after acquiring an additional 607 shares in the last quarter. Parallel Advisors LLC increased 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 worth $98,000 after acquiring an additional 852 shares in the last quarter. Compound Planning Inc. increased its position in shares of Harmony Gold Mining by 3.5% during the third quarter. Compound Planning Inc. now owns 26,673 shares of the mining company’s stock worth $484,000 after acquiring an additional 913 shares in the last quarter. Vise Technologies Inc. increased its position in shares of Harmony Gold Mining by 4.5% during the fourth quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company’s stock worth $478,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its position in shares of Harmony Gold Mining by 4.9% during the fourth 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. 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.