Harmony Gold Mining (NYSE:HMY) Hits New 12-Month High - Here's What Happened

Key Points

• Harmony Gold Mining achieved a new 52-week high, trading at $19.03, with a closing price of $18.69 and a significant trading volume of 830,732 shares.
• The company's debt-to-equity ratio is low at 0.04, indicating a strong balance sheet, while it has a market cap of $11.92 billion and a price-to-earnings ratio of 11.08.
• Harmony has declared a semi-annual dividend of $0.0893, resulting in an impressive yield of 120.0%, and will be paid on October 20th to investors of record on October 10th.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $19.03 and last traded at $18.69, with a volume of 830732 shares changing hands. The stock had previously closed at $18.33.

Analyst Upgrades and Downgrades

HMY has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on shares of Harmony Gold Mining in a research report on Thursday, July 17th. They issued a "market perform" rating and a $16.00 target price for the company. Zacks Research cut shares of Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a research report on Monday, September 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Harmony Gold Mining in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Harmony Gold Mining presently has an average rating of "Hold" and an average price target of $12.20.

Harmony Gold Mining Stock Up 2.1%

The business's 50 day moving average is $15.71 and its 200-day moving average is $15.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The company has a market cap of $11.92 billion, a PE ratio of 11.08, a P/E/G ratio of 0.15 and a beta of 0.79.

Harmony Gold Mining Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 10th will be given a $0.0893 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 120.0%. Harmony Gold Mining's dividend payout ratio is 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in Harmony Gold Mining by 16.7% during the second quarter. Parallel Advisors LLC now owns 5,494 shares of the mining company's stock valued at $77,000 after purchasing an additional 788 shares during the last quarter. GAMMA Investing LLC increased its stake in Harmony Gold Mining by 11.1% during the first quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company's stock valued at $128,000 after purchasing an additional 866 shares during the last quarter. Personal CFO Solutions LLC increased its stake in Harmony Gold Mining by 4.6% during the second quarter. Personal CFO Solutions LLC now owns 22,767 shares of the mining company's stock valued at $318,000 after purchasing an additional 993 shares during the last quarter. Profund Advisors LLC increased its stake in Harmony Gold Mining by 1.9% during the second quarter. Profund Advisors LLC now owns 59,968 shares of the mining company's stock valued at $838,000 after purchasing an additional 1,126 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Harmony Gold Mining by 13.9% during the second quarter. EverSource Wealth Advisors LLC now owns 10,516 shares of the mining company's stock valued at $147,000 after purchasing an additional 1,280 shares during the last quarter. 31.79% of the stock is 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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