Harmony Gold Mining (NYSE:HMY) Shares Gap Down to $10.80

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped down before the market opened on Monday . The stock had previously closed at $10.80, but opened at $10.38. Harmony Gold Mining shares last traded at $10.33, with a volume of 555,922 shares traded.

Analyst Upgrades and Downgrades

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

Harmony Gold Mining Price Performance

The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 9.23 and a beta of 1.78. The company’s 50 day moving average is $9.75 and its 200 day moving average is $9.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07.

Harmony Gold Mining Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 11th will be given 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%. Harmony Gold Mining’s payout ratio is 6.84%.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC grew its stake in Harmony Gold Mining by 23.0% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 75,654 shares of the mining company’s stock valued at $465,000 after acquiring an additional 14,141 shares during the last quarter. Virtu Financial LLC grew its position in shares of Harmony Gold Mining by 114.6% in the fourth quarter. Virtu Financial LLC now owns 79,441 shares of the mining company’s stock valued at $489,000 after purchasing an additional 42,416 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Harmony Gold Mining during the 4th quarter worth approximately $4,667,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Harmony Gold Mining during the 4th quarter worth approximately $3,075,000. Finally, GAMMA Investing LLC lifted its stake in Harmony Gold Mining by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock valued at $54,000 after buying an additional 1,496 shares in the last quarter. 31.79% of the stock is owned by hedge funds and other 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.