Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Should You 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.

Analyst Upgrades and Downgrades

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

Harmony Gold Mining Price Performance

The stock has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $10.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The firm has a market cap of $9.03 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85.

Harmony Gold Mining Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.1245 per share. This is a boost from Harmony Gold Mining’s previous semi-annual dividend of $0.04. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 0.9%. Harmony Gold Mining’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

Several large investors have recently made changes to their positions in the company. Grove Bank & Trust increased its holdings 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 grew 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 valued at $48,000 after acquiring an additional 4,081 shares during the period. Optiver Holding B.V. purchased a new position in shares of Harmony Gold Mining in the 4th quarter valued at about $75,000. Quantbot Technologies LP acquired a new position in Harmony Gold Mining in the 4th quarter worth about $77,000. Finally, Capstone Investment Advisors LLC purchased a new position in Harmony Gold Mining during the fourth quarter worth approximately $82,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.