Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Tuesday . The stock had previously closed at $17.08, but opened at $17.55. Harmony Gold Mining shares last traded at $17.29, with a volume of 747,950 shares trading hands.

Wall Street Analysts Forecast Growth

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

Harmony Gold Mining Stock Performance

The stock has a 50 day moving average of $12.75 and a 200 day moving average of $10.81. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

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 $0.1245 dividend. This is a positive change from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a dividend yield of 0.9%. The ex-dividend date is Friday, April 11th. Harmony Gold Mining’s dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds have recently bought and sold shares of HMY. Grove Bank & Trust grew its holdings in Harmony Gold Mining by 400.0% during the 4th quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after acquiring an additional 4,000 shares during the period. Jones Financial Companies Lllp grew its stake in Harmony Gold Mining by 230.3% during the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock worth $48,000 after purchasing an additional 4,081 shares during the period. Parallel Advisors LLC grew its stake in Harmony Gold Mining by 71.4% during the first quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company’s stock worth $70,000 after purchasing an additional 1,961 shares during the period. Optiver Holding B.V. bought a new stake in Harmony Gold Mining in the fourth quarter worth approximately $75,000. Finally, Quantbot Technologies LP acquired a new position in Harmony Gold Mining in the fourth quarter valued at approximately $77,000. Institutional investors own 31.79% of the company’s stock.

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.