Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Time to Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $12.84, but opened at $13.48. Harmony Gold Mining shares last traded at $14.21, with a volume of 2,534,162 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Price Performance

The stock’s 50 day moving average is $11.54 and its two-hundred day moving average is $10.30. The stock has a market capitalization of $8.93 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07.

Harmony Gold Mining Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 11th will be given a $0.1245 dividend. The ex-dividend date is Friday, April 11th. This is an increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a dividend yield of 0.9%. Harmony Gold Mining’s dividend payout ratio is currently 11.24%.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors have recently modified their holdings of the company. Grove Bank & Trust raised its stake in Harmony Gold Mining by 400.0% in the fourth quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock valued at $41,000 after buying an additional 4,000 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Harmony Gold Mining by 230.3% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock worth $48,000 after acquiring an additional 4,081 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Harmony Gold Mining during the 4th quarter worth about $75,000. Quantbot Technologies LP purchased a new stake in Harmony Gold Mining during the fourth quarter worth approximately $77,000. Finally, Capstone Investment Advisors LLC purchased a new position in Harmony Gold Mining in the fourth quarter valued at approximately $82,000. 31.79% of the stock is 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.