Harmony Gold Mining (NYSE:HMY) Shares Up 4.1% – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) shares were up 4.1% on Tuesday . The company traded as high as $9.72 and last traded at $9.69. 986,669 shares traded hands during trading, a decline of 80% from the average daily volume of 4,840,732 shares. The stock had previously closed at $9.31.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HMY. StockNews.com downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating on the stock.

Harmony Gold Mining Trading Up 1.9 %

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $10.28 and a two-hundred day simple moving average of $9.70.

Harmony Gold Mining Cuts Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hara Capital LLC purchased a new position in Harmony Gold Mining during the 3rd quarter worth approximately $38,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Harmony Gold Mining in the 2nd quarter valued at approximately $41,000. QRG Capital Management Inc. acquired a new stake in shares of Harmony Gold Mining during the first quarter worth $87,000. Diversified Trust Co purchased a new stake in shares of Harmony Gold Mining in the second quarter valued at about $93,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in Harmony Gold Mining in the first quarter valued at about $94,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.