Harmony Gold Mining (NYSE:HMY) Price Target Raised to $4.90

Harmony Gold Mining (NYSE:HMY) had its price objective hoisted by JPMorgan Chase & Co. from $3.20 to $4.90 in a research note published on Wednesday, Benzinga reports. They currently have an underweight rating on the mining company’s stock.

Separately, StockNews.com lowered Harmony Gold Mining from a strong-buy rating to a buy rating in a research report on Friday, April 12th.

Harmony Gold Mining Trading Up 1.9 %

NYSE:HMY opened at $9.29 on Wednesday. Harmony Gold Mining has a fifty-two week low of $3.41 and a fifty-two week high of $9.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.11. The stock has a market capitalization of $5.88 billion, a PE ratio of 8.85 and a beta of 1.71. The business’s 50-day simple moving average is $7.40 and its 200-day simple moving average is $6.18.

Harmony Gold Mining Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, April 12th will be given a $0.062 dividend. This represents a yield of 1.2%. The ex-dividend date is Thursday, April 11th. This is a positive change from Harmony Gold Mining’s previous Semi-Annual dividend of $0.03. Harmony Gold Mining’s dividend payout ratio (DPR) is currently 11.43%.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of HMY. GAMMA Investing LLC increased its position in shares of Harmony Gold Mining by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock worth $54,000 after purchasing an additional 1,496 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Harmony Gold Mining by 5.8% during the 4th quarter. Profund Advisors LLC now owns 43,218 shares of the mining company’s stock worth $266,000 after purchasing an additional 2,383 shares in the last quarter. Arlington Capital Management Inc. raised its stake in shares of Harmony Gold Mining by 1.7% during the 3rd quarter. Arlington Capital Management Inc. now owns 177,338 shares of the mining company’s stock worth $667,000 after purchasing an additional 2,910 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Harmony Gold Mining by 10.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,077 shares of the mining company’s stock worth $132,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of Harmony Gold Mining by 26.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 15,016 shares of the mining company’s stock worth $62,000 after purchasing an additional 3,103 shares in the last quarter. Institutional investors and hedge funds 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.