Harmony Gold Mining (NYSE:HMY) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Harmony Gold Mining (NYSE:HMY) from a buy rating to a hold rating in a research note released on Tuesday.

Several other equities research analysts also recently commented on the stock. Bank of America assumed coverage on shares of Harmony Gold Mining in a research report on Monday, October 21st. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday.

Harmony Gold Mining Stock Down 1.5 %

NYSE:HMY opened at $9.22 on Tuesday. The firm’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $9.69. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a one year low of $4.72 and a one year high of $12.29.

Harmony Gold Mining Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were given a $0.042 dividend. The ex-dividend date was Friday, October 11th. This represents a dividend yield of 1.2%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HMY. Hara Capital LLC acquired a new position in shares of Harmony Gold Mining in the 3rd quarter worth approximately $38,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Harmony Gold Mining during the 2nd quarter valued at $41,000. QRG Capital Management Inc. acquired a new position in shares of Harmony Gold Mining during the 1st quarter valued at $87,000. Diversified Trust Co acquired a new position in shares of Harmony Gold Mining during the 2nd quarter valued at $93,000. Finally, Burns Matteson Capital Management LLC acquired a new position in shares of Harmony Gold Mining during the 1st quarter valued at $94,000. 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.