Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.55, but opened at $18.61. Harmony Gold Mining shares last traded at $18.19, with a volume of 1,181,615 shares traded.

Wall Street Analyst Weigh In

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 price is $12.96 and its two-hundred day moving average price is $10.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.63 and a beta of 1.42.

Harmony Gold Mining Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HMY. Rakuten Securities Inc. bought a new stake in shares of Harmony Gold Mining in the first quarter valued at approximately $326,000. Ritholtz Wealth Management boosted its holdings in Harmony Gold Mining by 4.9% in the 1st quarter. Ritholtz Wealth Management now owns 169,833 shares of the mining company’s stock valued at $2,508,000 after purchasing an additional 7,994 shares during the period. GAMMA Investing LLC grew its position in Harmony Gold Mining by 11.1% in the 1st quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company’s stock worth $128,000 after purchasing an additional 866 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Harmony Gold Mining by 71.4% during the 1st 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. Finally, PKO Investment Management Joint Stock Co acquired a new position in shares of Harmony Gold Mining during the fourth quarter valued at about $2,452,000. 31.79% of the stock is owned by 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.