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

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped down before the market opened on Monday . The stock had previously closed at $9.63, but opened at $9.33. Harmony Gold Mining shares last traded at $9.29, with a volume of 561,035 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Bank of America started coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They set a “neutral” rating for the company.

Harmony Gold Mining Stock Down 4.0 %

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 firm has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $9.72.

Harmony Gold Mining Cuts Dividend

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

Hedge Funds Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently modified their holdings of HMY. O Shaughnessy Asset Management LLC grew its position in shares of Harmony Gold Mining by 123.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 37,960 shares of the mining company’s stock valued at $310,000 after purchasing an additional 20,979 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Harmony Gold Mining during the 1st quarter worth about $8,171,000. Tidal Investments LLC purchased a new stake in Harmony Gold Mining in the first quarter valued at approximately $59,033,000. Cetera Investment Advisers acquired a new position in Harmony Gold Mining during the first quarter worth approximately $2,097,000. Finally, QRG Capital Management Inc. raised its stake in Harmony Gold Mining by 37.8% during the second quarter. QRG Capital Management Inc. now owns 14,656 shares of the mining company’s stock worth $134,000 after purchasing an additional 4,021 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.