Harmony Gold Mining (NYSE:HMY) Shares Gap Up to $9.52

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped up before the market opened on Friday . The stock had previously closed at $9.52, but opened at $9.98. Harmony Gold Mining shares last traded at $9.92, with a volume of 490,013 shares traded.

Analysts Set New Price Targets

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

Harmony Gold Mining Trading Up 2.9 %

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $9.65 and a 200-day moving average price of $8.96.

Harmony Gold Mining Cuts Dividend

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

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors have recently added to or reduced their stakes in HMY. Van ECK Associates Corp grew its holdings 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 worth $612,884,000 after acquiring an additional 17,298,604 shares during the last quarter. Tidal Investments LLC acquired a new position in Harmony Gold Mining during the 1st quarter worth about $59,033,000. Polunin Capital Partners Ltd increased its stake in shares of Harmony Gold Mining by 10.0% in the first quarter. Polunin Capital Partners Ltd now owns 11,083,569 shares of the mining company’s stock valued at $90,553,000 after buying an additional 1,005,685 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Harmony Gold Mining in the first quarter worth approximately $8,171,000. Finally, Acadian Asset Management LLC boosted its holdings in Harmony Gold Mining by 111.5% in the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after acquiring an additional 977,142 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.