Harmony Gold Mining (NYSE:HMY) Shares Gap Up to $9.86

Harmony Gold Mining Company Limited (NYSE:HMY) gapped up before the market opened on Friday . The stock had previously closed at $9.86, but opened at $10.13. Harmony Gold Mining shares last traded at $10.13, with a volume of 345,760 shares changing hands.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their target price on Harmony Gold Mining from $5.80 to $4.80 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd.

Harmony Gold Mining Price Performance

The business has a 50-day moving average price of $9.67 and a two-hundred day moving average price of $9.06. 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 company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 8.42 and a beta of 1.78.

Harmony Gold Mining Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 11th will be paid 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 dividend payout ratio (DPR) is 6.84%.

Institutional Investors Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HMY. Van ECK Associates Corp boosted its stake in Harmony Gold Mining by 30.0% during the 1st quarter. Van ECK Associates Corp now owns 75,016,459 shares of the mining company’s stock valued at $612,884,000 after purchasing an additional 17,298,604 shares during the last quarter. Polunin Capital Partners Ltd grew its holdings in Harmony Gold Mining by 10.0% during the first quarter. Polunin Capital Partners Ltd now owns 11,083,569 shares of the mining company’s stock worth $90,553,000 after buying an additional 1,005,685 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Harmony Gold Mining by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,238,873 shares of the mining company’s stock valued at $50,668,000 after buying an additional 42,126 shares during the last quarter. Tidal Investments LLC bought a new position in Harmony Gold Mining during the 1st quarter valued at $59,033,000. Finally, Acadian Asset Management LLC boosted its holdings in Harmony Gold Mining by 111.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after acquiring an additional 977,142 shares during the last quarter. 31.79% of the stock is owned by 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.