Harmony Gold Mining Company Limited (NYSE:HMY) Raises Dividend to $0.12 Per Share

Harmony Gold Mining Company Limited (NYSE:HMY) declared a semi-annual dividend on Monday, March 10th, Wall Street Journal reports. Shareholders of record on Friday, April 11th will be paid a dividend of 0.1245 per share by the mining company on Monday, April 21st. This represents a yield of 0.9%. The ex-dividend date of this dividend is Friday, April 11th. This is a 196.3% increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04.

Harmony Gold Mining has raised its dividend by an average of 11.3% annually over the last three years. Harmony Gold Mining has a payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Harmony Gold Mining to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 7.4%.

Harmony Gold Mining Stock Performance

Shares of Harmony Gold Mining stock opened at $12.02 on Wednesday. The stock’s fifty day moving average is $10.56 and its two-hundred day moving average is $10.02. The company has a market capitalization of $7.63 billion, a PE ratio of 7.11, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 52 week low of $7.21 and a 52 week high of $12.49.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased 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. StockNews.com raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Friday, March 7th.

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.