Harmony Gold Mining (NYSE:HMY) Shares Gap Up to $5.49

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.49, but opened at $5.60. Harmony Gold Mining shares last traded at $5.76, with a volume of 1,249,344 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HMY shares. HSBC raised Harmony Gold Mining from a “reduce” rating to a “hold” rating in a research report on Tuesday, November 14th. JPMorgan Chase & Co. reduced their price target on Harmony Gold Mining from $3.80 to $3.40 and set a “neutral” rating for the company in a report on Thursday, October 12th. Morgan Stanley cut Harmony Gold Mining from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 18th. Finally, StockNews.com cut Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.40.

Harmony Gold Mining Stock Up 4.2 %

The firm has a 50 day simple moving average of $4.52 and a two-hundred day simple moving average of $4.41. The company has a quick ratio of 0.79, a current ratio of 1.26 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.55 billion, a P/E ratio of 8.22, a PEG ratio of 0.40 and a beta of 1.40.

Harmony Gold Mining Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, October 23rd. Stockholders of record on Friday, October 13th were paid a $0.032 dividend. This represents a dividend yield of 0.8%. This is a boost from Harmony Gold Mining’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend was Thursday, October 12th. Harmony Gold Mining’s dividend payout ratio is presently 4.48%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 Middle East FZE bought a new position in shares of Harmony Gold Mining in the 2nd quarter valued at $38,000. LPL Financial LLC bought a new position in shares of Harmony Gold Mining in the 3rd quarter valued at $38,000. PNC Financial Services Group Inc. lifted its stake in shares of Harmony Gold Mining by 137.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,273 shares of the mining company’s stock valued at $43,000 after acquiring an additional 5,948 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Harmony Gold Mining during the 1st quarter worth $54,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Harmony Gold Mining during the 3rd quarter worth $43,000. 28.33% of the stock is currently owned by 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.