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

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped down before the market opened on Monday . The stock had previously closed at $9.96, but opened at $9.59. Harmony Gold Mining shares last traded at $9.76, with a volume of 535,006 shares.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded shares of Harmony Gold Mining from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $4.90 to $8.20 in a research report on Thursday.

Harmony Gold Mining Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The firm’s 50-day moving average price is $9.92 and its 200 day moving average price is $9.38.

Harmony Gold Mining Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 11th will be given a dividend of $0.042 per share. This represents a yield of 1.2%. The ex-dividend date is Friday, October 11th.

Institutional Trading of Harmony Gold Mining

Several institutional investors and hedge funds have recently made changes to their positions in HMY. Virtu Financial LLC lifted its holdings in Harmony Gold Mining by 114.6% in the 4th quarter. Virtu Financial LLC now owns 79,441 shares of the mining company’s stock valued at $489,000 after purchasing an additional 42,416 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Harmony Gold Mining during the fourth quarter worth approximately $4,667,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Harmony Gold Mining in the 4th quarter worth approximately $3,075,000. GAMMA Investing LLC raised its holdings in Harmony Gold Mining by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock valued at $54,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Shilanski & Associates Inc. acquired a new position in Harmony Gold Mining in the 1st quarter valued at $225,000. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.