Harmony Gold Mining (NYSE:HMY) Trading 6.7% Higher - Here's Why

Key Points

• Harmony Gold Mining's stock price increased by 6.7% on a recent trading day, reaching a high of $15.84, although trading volume was significantly lower than average.
• The company announced a semi-annual dividend of $0.0893, yielding 120.0%, with a payout ratio of 11.24% and an ex-dividend date of October 10th.
• Analyst ratings for Harmony Gold Mining have varied, with BMO Capital Markets giving a "market perform" rating and Zacks Research downgrading it to "hold," reflecting a consensus rating of "Hold" among five investment analysts.

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report)'s stock price traded up 6.7% on Friday . The company traded as high as $15.84 and last traded at $15.95. 1,479,329 shares were traded during mid-day trading, a decline of 75% from the average session volume of 5,897,773 shares. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BMO Capital Markets assumed 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 for the company. Zacks Research downgraded Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Harmony Gold Mining currently has a consensus rating of "Hold" and an average price target of $12.20.

Harmony Gold Mining Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $10.39 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.12 and a beta of 0.80. The business has a fifty day moving average of $14.77 and a 200 day moving average of $14.56.

Harmony Gold Mining Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HMY. Colonial Trust Advisors bought a new position in shares of Harmony Gold Mining in the second quarter worth about $26,000. Spire Wealth Management bought a new position in shares of Harmony Gold Mining in the first quarter worth about $33,000. First Horizon Advisors Inc. bought a new position in shares of Harmony Gold Mining in the second quarter worth about $55,000. Hantz Financial Services Inc. raised its stake in shares of Harmony Gold Mining by 533.8% in the second quarter. Hantz Financial Services Inc. now owns 4,449 shares of the mining company's stock worth $62,000 after buying an additional 3,747 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Harmony Gold Mining by 71.4% in the first quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company's stock worth $70,000 after buying an additional 1,961 shares during the period. Institutional investors 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.

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