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.

Harmony Gold Mining Stock Performance

HMY stock opened at $9.11 on Friday. Harmony Gold Mining has a 52 week low of $3.41 and a 52 week high of $9.80. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $6.01.

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 paid a $0.062 dividend. The ex-dividend date 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 Investors Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HMY. Van ECK Associates Corp increased its stake in Harmony Gold Mining by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 57,717,855 shares of the mining company’s stock worth $354,965,000 after buying an additional 4,163,528 shares during the period. Exor Capital LLP increased its stake in Harmony Gold Mining by 11.5% in the 4th quarter. Exor Capital LLP now owns 29,744,388 shares of the mining company’s stock worth $119,549,000 after buying an additional 3,079,485 shares during the period. Renaissance Technologies LLC increased its stake in Harmony Gold Mining by 542.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,545,720 shares of the mining company’s stock worth $11,098,000 after buying an additional 2,993,900 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Harmony Gold Mining in the 4th quarter worth about $7,335,000. Finally, Bank of America Corp DE increased its stake in Harmony Gold Mining by 33,544.1% in the 1st quarter. Bank of America Corp DE now owns 1,244,832 shares of the mining company’s stock worth $5,104,000 after buying an additional 1,241,132 shares during the period. 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.