Harmony Gold Mining Company Limited (NYSE:HMY) Raises Dividend to $0.12 Per Share

Harmony Gold Mining Company Limited (NYSE:HMY) announced a semi-annual dividend on Monday, March 10th, Wall Street Journal reports. Investors of record on Friday, April 11th will be paid a dividend of 0.1245 per share by the mining company on Monday, April 21st. This represents a yield of 0.9%. The ex-dividend date is Friday, April 11th. This is a 196.3% increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04.

Harmony Gold Mining has raised its dividend by an average of 11.3% annually over the last three years. Harmony Gold Mining has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Harmony Gold Mining to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 7.4%.

Harmony Gold Mining Stock Down 2.8 %

NYSE HMY traded down $0.34 during trading on Monday, hitting $11.51. 6,536,907 shares of the company traded hands, compared to its average volume of 5,177,567. The company has a market capitalization of $7.30 billion, a P/E ratio of 6.81, a PEG ratio of 0.63 and a beta of 1.85. The business has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $10.00. Harmony Gold Mining has a 12 month low of $7.15 and a 12 month high of $12.49. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HMY. StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

About Harmony Gold Mining

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.