Harmony Gold Mining (NYSE:HMY) Hits New 1-Year High - Here's What Happened

Key Points

• Harmony Gold Mining reached a new 52-week high of $20.04 on Tuesday, closing at $19.86 after trading 5,368,944 shares.
• HSBC recently upgraded its rating on Harmony Gold Mining from "hold" to "strong-buy", while other firms have maintained ratings ranging from "buy" to "strong sell".
• The company declared a semi-annual dividend of $0.0893 per share, to be paid on October 20th, representing a 98.0% dividend yield.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.04 and last traded at $19.86, with a volume of 5368944 shares trading hands. The stock had previously closed at $18.27.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Hsbc Global Res raised Harmony Gold Mining from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 9th. BMO Capital Markets initiated coverage on Harmony Gold Mining in a research report on Thursday, July 17th. They issued a "market perform" rating and a $16.00 target price on the stock. HSBC upgraded Harmony Gold Mining from a "hold" rating to a "buy" rating in a research report on Thursday. Weiss Ratings reiterated a "buy (b)" rating on shares of Harmony Gold Mining in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.20.

Harmony Gold Mining Trading Up 8.7%

The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.15 and a beta of 0.79. The firm has a 50-day moving average price of $16.08 and a 200-day moving average price of $15.30. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

Harmony Gold Mining Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 10th will be given a dividend of $0.0893 per share. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 98.0%. Harmony Gold Mining's dividend payout ratio (DPR) is 8.28%.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of Harmony Gold Mining by 22.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,436 shares of the mining company's stock valued at $104,000 after purchasing an additional 1,346 shares during the period. FORA Capital LLC bought a new stake in shares of Harmony Gold Mining during the 2nd quarter worth $145,000. Headlands Technologies LLC bought a new stake in shares of Harmony Gold Mining during the 2nd quarter worth $236,000. Rakuten Securities Inc. boosted its stake in shares of Harmony Gold Mining by 92.8% during the 2nd quarter. Rakuten Securities Inc. now owns 42,608 shares of the mining company's stock worth $595,000 after acquiring an additional 20,506 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of Harmony Gold Mining by 6.8% during the 2nd quarter. Vident Advisory LLC now owns 122,034 shares of the mining company's stock worth $1,705,000 after acquiring an additional 7,728 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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