Harmony Gold Mining (NYSE:HMY) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks.com reports.

Separately, BMO Capital Markets assumed coverage on Harmony Gold Mining in a report on Thursday, July 17th. They set a “market perform” rating and a $16.00 price target for the company. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Harmony Gold Mining has a consensus rating of “Reduce” and a consensus target price of $12.20.

Harmony Gold Mining Trading Down 4.6%

Shares of NYSE:HMY opened at $17.24 on Monday. The firm has a market capitalization of $10.94 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.15 and a beta of 0.80. Harmony Gold Mining has a 12-month low of $7.97 and a 12-month high of $18.77. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $15.02 and a two-hundred day moving average of $14.74.

Harmony Gold Mining Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.0893 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a yield of 120.0%. Harmony Gold Mining’s dividend payout ratio is currently 11.24%.

Institutional Trading of Harmony Gold Mining

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock valued at $82,289,000 after buying an additional 3,806,468 shares during the last quarter. Invesco Ltd. boosted its position in Harmony Gold Mining by 12,337.7% in the 2nd quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock valued at $66,998,000 after buying an additional 4,757,285 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Harmony Gold Mining by 286.6% in the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock valued at $54,248,000 after acquiring an additional 2,936,552 shares during the last quarter. American Century Companies Inc. boosted its holdings in Harmony Gold Mining by 14.9% in the first quarter. American Century Companies Inc. now owns 3,805,276 shares of the mining company’s stock valued at $56,204,000 after acquiring an additional 493,041 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Harmony Gold Mining by 46.9% in the second quarter. Acadian Asset Management LLC now owns 3,613,767 shares of the mining company’s stock valued at $50,460,000 after acquiring an additional 1,152,915 shares during the last quarter. 31.79% of the stock is owned by institutional investors.

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.