Harmony Gold Mining (NYSE:HMY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other analysts have also recently commented on the company. Bank of America assumed coverage on Harmony Gold Mining in a research report on Monday, October 21st. They set a “neutral” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Harmony Gold Mining Trading Down 1.0 %

NYSE HMY opened at $9.51 on Wednesday. Harmony Gold Mining has a 12-month low of $5.40 and a 12-month high of $12.29. The company has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $9.70. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

Harmony Gold Mining Cuts Dividend

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

Institutional Trading of Harmony Gold Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Harmony Gold Mining during the 3rd quarter worth about $1,412,000. MML Investors Services LLC raised its holdings in Harmony Gold Mining by 212.5% in the 3rd quarter. MML Investors Services LLC now owns 31,405 shares of the mining company’s stock worth $319,000 after purchasing an additional 21,356 shares during the period. Dorsey Wright & Associates boosted its position in Harmony Gold Mining by 12.0% during the third quarter. Dorsey Wright & Associates now owns 378,630 shares of the mining company’s stock worth $3,851,000 after purchasing an additional 40,592 shares in the last quarter. Wellington Management Group LLP grew its holdings in Harmony Gold Mining by 76.8% in the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after purchasing an additional 1,162,292 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Harmony Gold Mining by 298.5% in the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock valued at $525,000 after buying an additional 39,237 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 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.