Harmony Gold Mining Co. (NYSE:HMY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Estimates for Harmony Gold have been stable lately. Harmony has a diverse portfolio of gold development projects spread across South Africa and PNG. The company is making a good progress with its Wafi-Golpu project. The company is also progressing well with its cost reduction program. Moreover, it remains focused on improving gold grades. However, Harmony is exposed to geopolitical risks associated with potential mine shut downs and labor strikes. Its operations are also likely to be impacted by a slower-than-expected ramp-up in production at mines and gold price volatility. “

HMY has been the topic of a number of other reports. JPMorgan Chase & Co. raised Harmony Gold Mining from a “neutral” rating to an “overweight” rating in a research report on Tuesday, July 12th. Macquarie raised Harmony Gold Mining from an “underperform” rating to a “neutral” rating in a research report on Friday, July 1st. TheStreet raised Harmony Gold Mining from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Citigroup Inc. reaffirmed a “sell” rating on shares of Harmony Gold Mining in a research report on Thursday, August 18th. Finally, Deutsche Bank AG raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Harmony Gold Mining presently has a consensus rating of “Hold” and an average target price of $5.00.

Harmony Gold Mining (NYSE:HMY) traded up 4.15% during trading on Wednesday, reaching $3.51. 1,792,457 shares of the company’s stock were exchanged. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 23.88 and a beta of -0.96. The firm’s 50-day moving average price is $4.03 and its 200-day moving average price is $3.77. Harmony Gold Mining has a 12 month low of $0.53 and a 12 month high of $4.87.

The business also recently declared a semiannual dividend, which will be paid on Monday, September 26th. Investors of record on Friday, September 16th will be given a $0.0372 dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 14th. Harmony Gold Mining’s payout ratio is currently -4.11%.

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Harmony Gold Mining by 4.6% in the first quarter. Royal Bank of Canada now owns 51,965 shares of the mining company’s stock worth $189,000 after buying an additional 2,287 shares during the last quarter. Profund Advisors LLC raised its stake in Harmony Gold Mining by 37.2% in the second quarter. Profund Advisors LLC now owns 81,728 shares of the mining company’s stock worth $295,000 after buying an additional 22,173 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Harmony Gold Mining by 27.5% in the second quarter. BNP Paribas Arbitrage SA now owns 111,835 shares of the mining company’s stock worth $404,000 after buying an additional 24,089 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Harmony Gold Mining during the first quarter worth approximately $103,000. Finally, Societe Generale bought a new stake in Harmony Gold Mining during the second quarter worth approximately $121,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Company’s operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations.

5 Day Chart for NYSE:HMY

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