Harmony Gold Mining Company Limited (NYSE:HMY) to Issue $0.09 Semi-annual Dividend

Key Points

• Harmony Gold Mining Company Limited announced a dividend of $0.09 per share, to be paid on October 20th to shareholders of record as of October 10th, representing a substantial yield of 120.0%.
• The company has a low payout ratio of 10.5%, indicating that its dividend is well-supported by earnings, with expected earnings of $1.49 per share next year.
• As of Thursday, Harmony Gold Mining stock was priced at $14.87, showing a slight decline of 0.8%, with a market cap of $9.44 billion.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) announced a semi-annual dividend on Tuesday, September 16th. Stockholders of record on Friday, October 10th will be given a dividend of 0.0893 per share by the mining company on Monday, October 20th. This represents a dividend yield of 120.0%. The ex-dividend date is Friday, October 10th.

Harmony Gold Mining has a payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.24 annual dividend with an expected future payout ratio of 16.1%.

Harmony Gold Mining Price Performance

Shares of Harmony Gold Mining stock traded up $1.92 on Friday, hitting $16.87. 26,506,616 shares of the company traded hands, compared to its average volume of 6,872,435. The firm's 50-day simple moving average is $14.81 and its 200 day simple moving average is $14.61. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The company has a market cap of $10.71 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.12 and a beta of 0.80. Harmony Gold Mining has a 12-month low of $7.97 and a 12-month high of $18.77.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently bought and sold shares of the stock. Jump Financial LLC increased its stake in shares of Harmony Gold Mining by 2,655.3% in the first quarter. Jump Financial LLC now owns 585,608 shares of the mining company's stock worth $8,649,000 after buying an additional 564,354 shares during the period. Bank of America Corp DE increased its stake in shares of Harmony Gold Mining by 4.9% in the fourth quarter. Bank of America Corp DE now owns 1,235,498 shares of the mining company's stock worth $10,143,000 after buying an additional 58,138 shares during the period. GAMMA Investing LLC increased its stake in shares of Harmony Gold Mining by 11.1% in the first quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company's stock worth $128,000 after buying an additional 866 shares during the period. Walleye Capital LLC increased its position in shares of Harmony Gold Mining by 103.6% in the first quarter. Walleye Capital LLC now owns 244,232 shares of the mining company's stock valued at $3,607,000 after acquiring an additional 124,287 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Harmony Gold Mining by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 467,378 shares of the mining company's stock valued at $6,571,000 after acquiring an additional 109,873 shares during the period. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.