Harmony Gold Mining (NYSE:HMY) Trading Up 12% - Here's What Happened

Key Points

• HMY jumped 12% on Wednesday to about $17.46 (intraday high $17.37) while trading volume was ~1.61M, down roughly 69% from its 5.19M average.
• Analysts are mixed but the consensus is a "Moderate Buy" with a $16.00 price target, following recent ratings that range from Strong Buy to Strong Sell (Morgan Stanley recently upgraded to overweight).
• Harmony paid a $0.3124 per-share dividend (record April 24, paid May 5) reported as a 372.0% yield, and the company shows low liquidity (current ratio 0.54, quick ratio 0.38) with minimal leverage (debt-to-equity 0.03).

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) was up 12% during trading on Wednesday . The stock traded as high as $17.37 and last traded at $17.4570. Approximately 1,612,334 shares were traded during trading, a decline of 69% from the average daily volume of 5,189,666 shares. The stock had previously closed at $15.58.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HMY shares. Weiss Ratings reissued a "buy (b)" rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. Morgan Stanley upgraded shares of Harmony Gold Mining to an "overweight" rating in a report on Thursday, April 16th. Zacks Research lowered shares of Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered shares of Harmony Gold Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

Harmony Gold Mining Trading Up 12.3%

The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $17.05 and a two-hundred day moving average of $18.85.

Harmony Gold Mining Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were given a dividend of $0.3124 per share. This represents a yield of 372.0%. The ex-dividend date of this dividend was Friday, April 24th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans purchased a new position in Harmony Gold Mining in the third quarter valued at about $1,123,000. Assenagon Asset Management S.A. purchased a new position in Harmony Gold Mining in the fourth quarter valued at about $17,832,000. Alps Advisors Inc. grew its stake in Harmony Gold Mining by 34.5% in the third quarter. Alps Advisors Inc. now owns 1,405,825 shares of the mining company's stock valued at $25,516,000 after purchasing an additional 360,673 shares in the last quarter. Aquatic Capital Management LLC grew its stake in Harmony Gold Mining by 78.7% in the third quarter. Aquatic Capital Management LLC now owns 332,461 shares of the mining company's stock valued at $6,034,000 after purchasing an additional 146,459 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new position in Harmony Gold Mining in the fourth quarter valued at about $6,939,000. 31.79% of the stock is owned by institutional investors and hedge funds.

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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