Harmony Gold Mining (NYSE:HMY) Downgraded by HSBC to “Reduce”

HSBC downgraded shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a reduce rating in a research report released on Friday morning, MarketBeat reports.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Harmony Gold Mining from a strong-buy rating to a buy rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Harmony Gold Mining from $3.20 to $4.90 and gave the company an underweight rating in a research report on Wednesday.

Harmony Gold Mining Stock Performance

NYSE HMY opened at $9.29 on Friday. Harmony Gold Mining has a fifty-two week low of $3.41 and a fifty-two week high of $9.80. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $7.40 and a two-hundred day simple moving average of $6.17.

Harmony Gold Mining Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, April 12th will be given a dividend of $0.062 per share. The ex-dividend date is Thursday, April 11th. This is a positive change from Harmony Gold Mining’s previous Semi-Annual dividend of $0.03. This represents a dividend yield of 1.2%.

Institutional Investors Weigh In On Harmony Gold Mining

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Harmony Gold Mining by 7.8% during the fourth quarter. Van ECK Associates Corp now owns 57,717,855 shares of the mining company’s stock valued at $354,965,000 after purchasing an additional 4,163,528 shares in the last quarter. Exor Capital LLP raised its stake in Harmony Gold Mining by 11.5% during the fourth quarter. Exor Capital LLP now owns 29,744,388 shares of the mining company’s stock valued at $119,549,000 after buying an additional 3,079,485 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Harmony Gold Mining by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,238,873 shares of the mining company’s stock valued at $50,668,000 after buying an additional 42,126 shares during the last quarter. BlackRock Inc. raised its stake in Harmony Gold Mining by 3.5% during the first quarter. BlackRock Inc. now owns 6,799,743 shares of the mining company’s stock valued at $27,879,000 after buying an additional 227,570 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Harmony Gold Mining by 542.6% during the second quarter. Renaissance Technologies LLC now owns 3,545,720 shares of the mining company’s stock valued at $11,098,000 after buying an additional 2,993,900 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors.

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.