Harmony Gold Mining (NYSE:HMY) Shares Up 6.7% - What's Next?

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 rose 6.7% during mid-day trading on Friday . The stock traded as high as $15.84 and last traded at $15.95. Approximately 1,479,329 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 5,897,773 shares. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HMY shares. Zacks Research downgraded Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. BMO Capital Markets started coverage on Harmony Gold Mining in a research report on Thursday, July 17th. They set a "market perform" rating and a $16.00 target price on the stock. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Harmony Gold Mining currently has a consensus rating of "Hold" and an average target price of $12.20.

Harmony Gold Mining Stock Performance

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 business has a fifty day simple moving average of $14.88 and a 200 day simple moving average of $14.70.

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 120.0%. Harmony Gold Mining's dividend payout ratio (DPR) is 11.24%.

Institutional Trading of Harmony Gold Mining

Several hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in Harmony Gold Mining by 215.7% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after purchasing an additional 3,806,468 shares during the last quarter. Invesco Ltd. lifted its position in shares of Harmony Gold Mining by 12,337.7% in the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company's stock worth $66,998,000 after buying an additional 4,757,285 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Harmony Gold Mining by 286.6% in the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company's stock worth $54,248,000 after buying an additional 2,936,552 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Harmony Gold Mining by 14.9% in the first quarter. American Century Companies Inc. now owns 3,805,276 shares of the mining company's stock worth $56,204,000 after buying an additional 493,041 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Harmony Gold Mining by 46.9% in the second quarter. Acadian Asset Management LLC now owns 3,613,767 shares of the mining company's stock worth $50,460,000 after buying an additional 1,152,915 shares during the last quarter. Institutional investors and hedge funds 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.