Harmony Gold Mining Company Limited (NYSE:HMY) Sees Significant Decline in Short Interest

Harmony Gold Mining Company Limited (NYSE:HMY) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 6,830,000 shares, a decline of 13.5% from the October 15th total of 7,900,000 shares. Based on an average trading volume of 3,980,000 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America started coverage on shares of Harmony Gold Mining in a research report on Monday, October 21st. They issued a “neutral” rating for the company. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted 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.

Harmony Gold Mining Stock Down 1.8 %

Shares of HMY traded down $0.16 during trading hours on Friday, reaching $8.65. The stock had a trading volume of 23,130,700 shares, compared to its average volume of 4,853,657. Harmony Gold Mining has a 52 week low of $5.32 and a 52 week high of $12.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a 50-day moving average of $10.28 and a 200 day moving average of $9.68.

Harmony Gold Mining Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were issued a $0.042 dividend. 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

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in Harmony Gold Mining by 225.6% in the first quarter. SG Americas Securities LLC now owns 108,954 shares of the mining company’s stock valued at $890,000 after buying an additional 75,494 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Harmony Gold Mining in the first quarter valued at $87,000. Acadian Asset Management LLC lifted its stake in Harmony Gold Mining by 234.5% during the 1st quarter. Acadian Asset Management LLC now owns 876,464 shares of the mining company’s stock valued at $7,152,000 after acquiring an additional 614,445 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Harmony Gold Mining by 123.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 37,960 shares of the mining company’s stock worth $310,000 after purchasing an additional 20,979 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Harmony Gold Mining during the 1st quarter worth $553,000. 31.79% of the stock is owned by institutional investors and hedge funds.

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.