Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Time to Sell?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $10.33, but opened at $9.78. Harmony Gold Mining shares last traded at $9.74, with a volume of 1,210,304 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HMY shares. Bank of America initiated coverage on shares of Harmony Gold Mining in a research report on Monday, October 21st. They set a “neutral” rating for the company. JPMorgan Chase & Co. upgraded shares of Harmony Gold Mining from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.90 to $8.20 in a research report on Thursday, October 10th.

Harmony Gold Mining Price Performance

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $10.29 and a 200-day moving average price of $9.69.

Harmony Gold Mining Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a $0.042 dividend. This represents a yield of 1.2%. The ex-dividend date was Friday, October 11th.

Hedge Funds Weigh In On Harmony Gold Mining

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP raised its position in shares of Harmony Gold Mining by 201.9% during the 1st quarter. Quantbot Technologies LP now owns 92,956 shares of the mining company’s stock valued at $759,000 after acquiring an additional 62,169 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Harmony Gold Mining by 225.6% during the 1st quarter. SG Americas Securities LLC now owns 108,954 shares of the mining company’s stock valued at $890,000 after acquiring an additional 75,494 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of Harmony Gold Mining by 19.7% during the 1st quarter. Atomi Financial Group Inc. now owns 17,031 shares of the mining company’s stock valued at $139,000 after acquiring an additional 2,801 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Harmony Gold Mining during the 1st quarter valued at approximately $87,000. Finally, Acadian Asset Management LLC raised its position in shares of Harmony Gold Mining by 234.5% during the 1st quarter. Acadian Asset Management LLC now owns 876,464 shares of the mining company’s stock valued at $7,152,000 after acquiring an additional 614,445 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 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.