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

StockNews.com upgraded shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other brokerages have also recently commented on HMY. JPMorgan Chase & Co. boosted their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Bank of America started coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They set a “neutral” rating for the company.

Harmony Gold Mining Price Performance

NYSE:HMY opened at $9.51 on Wednesday. The stock has a 50 day moving average of $10.30 and a two-hundred day moving average of $9.70. Harmony Gold Mining has a 12 month low of $5.40 and a 12 month high of $12.29. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Harmony Gold Mining Cuts Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in Harmony Gold Mining in the 1st quarter valued at about $59,033,000. Van ECK Associates Corp grew its position in Harmony Gold Mining by 3.3% in the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock worth $700,663,000 after acquiring an additional 2,206,537 shares during the period. Wellington Management Group LLP grew its position in Harmony Gold Mining by 76.8% in the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after acquiring an additional 1,162,292 shares during the period. Lazard Asset Management LLC purchased a new stake in Harmony Gold Mining in the first quarter valued at $8,171,000. Finally, Acadian Asset Management LLC raised its position in Harmony Gold Mining by 111.5% in the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after purchasing an additional 977,142 shares during the period. 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.