Harmony Gold Mining (NYSE:HMY) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Harmony Gold Mining (NYSE:HMY) from a strong-buy rating to a buy rating in a report released on Friday morning.

Harmony Gold Mining Price Performance

NYSE:HMY opened at $9.02 on Friday. The business’s 50-day moving average is $7.15 and its 200 day moving average is $6.05. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08. Harmony Gold Mining has a 12 month low of $3.41 and a 12 month high of $9.80.

Harmony Gold Mining Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, April 12th will be given a $0.062 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from Harmony Gold Mining’s previous Semi-Annual dividend of $0.03.

Hedge Funds Weigh In On Harmony Gold Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new stake in Harmony Gold Mining in the 1st quarter valued at about $182,000. JPMorgan Chase & Co. increased its holdings in Harmony Gold Mining by 3.6% during the 1st quarter. JPMorgan Chase & Co. now owns 655,791 shares of the mining company’s stock worth $3,299,000 after purchasing an additional 22,584 shares during the period. Raymond James & Associates purchased a new stake in shares of Harmony Gold Mining in the 1st quarter worth $156,000. Bank of New York Mellon Corp bought a new position in shares of Harmony Gold Mining during the 1st quarter worth $67,000. Finally, Private Advisor Group LLC purchased a new position in shares of Harmony Gold Mining during the first quarter valued at $71,000. Hedge funds and other 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.