Harmony Gold Mining (NYSE:HMY) Reaches New 52-Week High – Time to Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.76 and last traded at $12.67, with a volume of 849407 shares changing hands. The stock had previously closed at $12.31.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Stock Up 1.3 %

The stock’s fifty day simple moving average is $10.87 and its 200-day simple moving average is $10.07. The stock has a market cap of $7.92 billion, a P/E ratio of 7.37, a P/E/G ratio of 0.63 and a beta of 1.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56.

Harmony Gold Mining Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 11th will be given a $0.1245 dividend. The ex-dividend date is Friday, April 11th. This is a boost from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a dividend yield of 0.9%. Harmony Gold Mining’s payout ratio is presently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HMY. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Harmony Gold Mining in the 3rd quarter valued at approximately $210,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Harmony Gold Mining in the 3rd quarter valued at approximately $192,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Harmony Gold Mining by 27.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock valued at $8,057,000 after buying an additional 170,175 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Harmony Gold Mining in the 3rd quarter valued at approximately $241,000. Finally, Eagle Asset Management Inc. increased its position in Harmony Gold Mining by 10.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 43,359 shares of the mining company’s stock worth $448,000 after purchasing an additional 4,220 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

About Harmony Gold Mining

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.