Harmony Gold Mining (NYSE:HMY) Shares Gap Down - Here's Why

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $17.16, but opened at $16.65. Harmony Gold Mining shares last traded at $17.10, with a volume of 2,204,800 shares trading hands.

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 Stock Performance

The firm has a fifty day moving average price of $12.85 and a 200 day moving average price of $10.86. 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 stock has a market cap of $11.14 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42.

Harmony Gold Mining Increases Dividend

The firm also recently declared 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 positive change 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 payout ratio is presently 11.24%.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. purchased a new position in Harmony Gold Mining during the 1st quarter worth approximately $326,000. Ritholtz Wealth Management increased its stake in shares of Harmony Gold Mining by 4.9% in the first quarter. Ritholtz Wealth Management now owns 169,833 shares of the mining company's stock worth $2,508,000 after acquiring an additional 7,994 shares during the period. GAMMA Investing LLC raised its holdings in shares of Harmony Gold Mining by 11.1% during the first 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 lifted its position 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 valued at $70,000 after purchasing an additional 1,961 shares during the period. Finally, PKO Investment Management Joint Stock Co purchased a new stake in Harmony Gold Mining in the fourth quarter valued at $2,452,000. 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.