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

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

Harmony Gold Mining Price Performance

Harmony Gold Mining stock opened at $9.11 on Friday. The firm’s fifty day moving average price is $7.09 and its two-hundred day moving average price is $6.01. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. Harmony Gold Mining has a 1-year low of $3.41 and a 1-year high of $9.80.

Harmony Gold Mining Increases Dividend

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

Institutional Trading of Harmony Gold Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $32,000. Fifth Third Bancorp purchased a new position in Harmony Gold Mining in the fourth quarter valued at about $34,000. Point72 Middle East FZE purchased a new stake in shares of Harmony Gold Mining during the 2nd quarter worth approximately $38,000. LPL Financial LLC bought a new stake in shares of Harmony Gold Mining in the 3rd quarter worth approximately $38,000. Finally, PNC Financial Services Group Inc. lifted its stake in Harmony Gold Mining by 137.5% in the second quarter. PNC Financial Services Group Inc. now owns 10,273 shares of the mining company’s stock valued at $43,000 after purchasing an additional 5,948 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.