Harmony Gold Mining (NYSE:HMY) Trading 9.8% Higher - Should You Buy?

Key Points

• Shares jumped 9.8% intraday to $19.23 (high $19.32) on Friday, with about 4.92 million shares traded—roughly 7% below average daily volume.
• Analysts hold a Moderate Buy consensus (1 Strong Buy, 2 Buy, 3 Hold), but the average price target is $16.00, which is below the current trading level.
• Harmony declared a dividend of $0.3124 per share (ex-dividend April 24, payable May 5), which the article reports as a 430% yield.

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) were up 9.8% during mid-day trading on Friday . The stock traded as high as $19.32 and last traded at $19.23. Approximately 4,917,947 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 5,291,410 shares. The stock had previously closed at $17.51.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HMY shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. Morgan Stanley upgraded Harmony Gold Mining to an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen cut Harmony Gold Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.

Harmony Gold Mining Price Performance

The firm's 50-day simple moving average is $17.95 and its 200 day simple moving average is $19.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54.

Harmony Gold Mining Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be issued a dividend of $0.3124 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a dividend yield of 430.0%.

Institutional Investors Weigh In On Harmony Gold Mining

Several hedge funds have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Harmony Gold Mining by 2.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 400,574 shares of the mining company's stock valued at $6,157,000 after acquiring an additional 9,089 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Harmony Gold Mining by 66.4% during the 1st quarter. Diversified Trust Co now owns 32,106 shares of the mining company's stock valued at $493,000 after acquiring an additional 12,812 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Harmony Gold Mining during the 4th quarter valued at $1,815,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Harmony Gold Mining during the 4th quarter valued at $196,000. Finally, Dorsey Wright & Associates boosted its holdings in shares of Harmony Gold Mining by 4.4% during the 4th quarter. Dorsey Wright & Associates now owns 144,460 shares of the mining company's stock valued at $2,875,000 after acquiring an additional 6,086 shares in 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 is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.

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