Brokerages Set Harmony Gold Mining Company Limited (NYSE:HMY) Target Price at $12.20

Key Points

• Harmony Gold Mining Company Limited has received a consensus rating of "Hold" from analysts, with an average price target of $12.20 over the next year.
• The company recently announced a semi-annual dividend of $0.0893 per share, to be paid on October 20th, which reflects a notable dividend yield of 120.0%.
• Shares of Harmony Gold are currently trading at $16.87 after an increase of 12.8%, with a market capitalization of $10.71 billion.

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) have earned a consensus rating of "Hold" from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have covered the stock in the last year is $12.20.

A number of research firms have weighed in on HMY. Zacks Research downgraded Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. BMO Capital Markets began coverage on Harmony Gold Mining in a research note on Thursday, July 17th. They set a "market perform" rating and a $16.00 target price on the stock.

Harmony Gold Mining Price Performance

Shares of HMY traded up $1.92 during trading hours on Friday, reaching $16.87. 26,506,616 shares of the company's stock traded hands, compared to its average volume of 6,872,435. 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 firm's 50 day simple moving average is $14.81 and its 200-day simple moving average is $14.63. The stock has a market cap of $10.71 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.14 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.

Harmony Gold Mining Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 10th will be given a dividend of $0.0893 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a yield of 120.0%. Harmony Gold Mining's payout ratio is 8.28%.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently modified their holdings of the stock. Colonial Trust Advisors purchased a new stake in shares of Harmony Gold Mining during the second quarter worth $26,000. Spire Wealth Management acquired a new position in shares of Harmony Gold Mining in the 1st quarter worth approximately $33,000. First Horizon Advisors Inc. bought a new position in Harmony Gold Mining in the 2nd quarter worth approximately $55,000. Hantz Financial Services Inc. raised its position in shares of Harmony Gold Mining by 533.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,449 shares of the mining company's stock valued at $62,000 after acquiring an additional 3,747 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Harmony Gold Mining by 71.4% in the 1st quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company's stock valued at $70,000 after buying an additional 1,961 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.