Harmony Gold Mining (NYSE:HMY) Upgraded to Hold at Zacks Research

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

Several other research firms also recently issued reports on HMY. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. Morgan Stanley raised Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen downgraded Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Stock Performance

HMY opened at $17.93 on Monday. The business’s 50-day moving average price is $16.63 and its two-hundred day moving average price is $18.79. Harmony Gold Mining has a 1 year low of $12.58 and a 1 year high of $26.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38.

Harmony Gold Mining Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were issued a $0.3124 dividend. The ex-dividend date was Friday, April 24th. This represents a dividend yield of 372.0%.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently modified their holdings of the stock. Barometer Capital Management Inc. grew its holdings in shares of Harmony Gold Mining by 1,118.8% in the 1st quarter. Barometer Capital Management Inc. now owns 117,000 shares of the mining company’s stock valued at $1,764,000 after acquiring an additional 107,400 shares in the last quarter. Summit Global Investments bought a new position in shares of Harmony Gold Mining in the 1st quarter valued at about $462,000. Parallel Advisors LLC grew its holdings in shares of Harmony Gold Mining by 15.5% in the 1st quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock valued at $98,000 after acquiring an additional 852 shares in the last quarter. Dorsey Wright & Associates grew its holdings in shares of Harmony Gold Mining by 41.2% in the 1st quarter. Dorsey Wright & Associates now owns 204,042 shares of the mining company’s stock valued at $3,136,000 after acquiring an additional 59,582 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Harmony Gold Mining in the 1st quarter valued at about $34,000. Institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.