Harmony Gold Mining (NYSE:HMY) Shares Gap Up – What’s Next?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $10.04, but opened at $10.42. Harmony Gold Mining shares last traded at $10.53, with a volume of 885,191 shares.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised shares of Harmony Gold Mining from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $4.90 to $8.20 in a research report on Thursday, October 10th.

Harmony Gold Mining Trading Up 8.2 %

The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $7.24 billion, a PE ratio of 8.23 and a beta of 1.79. The business’s 50-day moving average is $10.03 and its two-hundred day moving average is $9.42.

Harmony Gold Mining Cuts Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 11th will be issued a $0.042 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 11th. Harmony Gold Mining’s payout ratio is currently 5.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at approximately $712,000. SG Americas Securities LLC increased its stake in Harmony Gold Mining by 225.6% in the first quarter. SG Americas Securities LLC now owns 108,954 shares of the mining company’s stock valued at $890,000 after purchasing an additional 75,494 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Harmony Gold Mining in the first quarter valued at about $2,097,000. Quantbot Technologies LP raised its holdings in shares of Harmony Gold Mining by 201.9% in the first quarter. Quantbot Technologies LP now owns 92,956 shares of the mining company’s stock valued at $759,000 after buying an additional 62,169 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in shares of Harmony Gold Mining by 19.7% during the first quarter. Atomi Financial Group Inc. now owns 17,031 shares of the mining company’s stock worth $139,000 after buying an additional 2,801 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.