Harmony Gold Mining (NYSE:HMY) Shares Gap Down - Time to Sell?

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $10.33, but opened at $9.78. Harmony Gold Mining shares last traded at $9.74, with a volume of 1,210,304 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Harmony Gold Mining from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $4.90 to $8.20 in a research note on Thursday, October 10th. Bank of America assumed coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They set a "neutral" rating for the company.

Harmony Gold Mining Stock Down 9.8 %

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 company's 50 day moving average price is $10.29 and its 200-day moving average price is $9.69.

Harmony Gold Mining Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a $0.042 dividend. This represents a yield of 1.2%. The ex-dividend date was Friday, October 11th.

Institutional Trading of Harmony Gold Mining

A number of hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP increased its position in shares of Harmony Gold Mining by 201.9% during the first quarter. Quantbot Technologies LP now owns 92,956 shares of the mining company's stock valued at $759,000 after buying an additional 62,169 shares during the period. SG Americas Securities LLC increased its holdings in Harmony Gold Mining by 225.6% in the 1st quarter. SG Americas Securities LLC now owns 108,954 shares of the mining company's stock valued at $890,000 after acquiring an additional 75,494 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Harmony Gold Mining by 19.7% in the 1st quarter. Atomi Financial Group Inc. now owns 17,031 shares of the mining company's stock valued at $139,000 after acquiring an additional 2,801 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Harmony Gold Mining during the 1st quarter worth about $87,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Harmony Gold Mining by 234.5% in the 1st quarter. Acadian Asset Management LLC now owns 876,464 shares of the mining company's stock valued at $7,152,000 after purchasing an additional 614,445 shares in the last quarter. 31.79% of the stock is owned by 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.

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