Harmony Gold Mining (NYSE:HMY) Trading Down 8.7% - Here's Why

Key Points

• The shares of Harmony Gold Mining (NYSE:HMY) fell by 8.7% on Friday, trading as low as $19.86 before closing at $19.99.
• Equities analysts have mixed ratings on HMY, with one strong buy, two buy, four hold, and one sell rating, resulting in a consensus hold rating and an average target price of $12.20.
• The company recently declared a semi-annual dividend of $0.0893 per share, with a dividend yield of 98.0%, to be paid on October 20th.

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) were down 8.7% during trading on Friday . The company traded as low as $19.86 and last traded at $19.99. Approximately 2,908,217 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 5,977,700 shares. The stock had previously closed at $21.90.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HMY shares. Hsbc Global Res raised shares of Harmony Gold Mining from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 9th. Investec upgraded shares of Harmony Gold Mining to a "hold" rating in a research note on Friday, October 10th. BMO Capital Markets started coverage on shares of Harmony Gold Mining in a report on Thursday, July 17th. They set a "market perform" rating and a $16.00 price objective on the stock. Zacks Research downgraded shares of Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Harmony Gold Mining in a report on Wednesday, October 8th. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $12.20.

Harmony Gold Mining Stock Performance

The stock's 50 day moving average price is $16.37 and its 200 day moving average price is $15.42. The firm has a market cap of $12.53 billion, a PE ratio of 11.65, a P/E/G ratio of 0.16 and a beta of 0.79. 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 firm also recently declared a semi-annual dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 10th will be issued a $0.0893 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 98.0%. Harmony Gold Mining's payout ratio is 8.28%.

Institutional Trading of Harmony Gold Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in HMY. Parallel Advisors LLC lifted its holdings in shares of Harmony Gold Mining by 16.7% during the second quarter. Parallel Advisors LLC now owns 5,494 shares of the mining company's stock worth $77,000 after buying an additional 788 shares in the last quarter. GAMMA Investing LLC raised its stake in Harmony Gold Mining by 11.1% in 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 in the last quarter. Personal CFO Solutions LLC raised its stake in Harmony Gold Mining by 4.6% in 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 in the last quarter. Profund Advisors LLC raised its stake in Harmony Gold Mining by 1.9% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Harmony Gold Mining by 13.9% in 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 in the last quarter. 31.79% of the stock is currently owned by institutional investors.

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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