Several other research firms have also weighed in on HMY. Morgan Stanley lowered Harmony Gold Mining from an equal weight rating to an underweight rating in a report on Wednesday, October 18th. JPMorgan Chase & Co. reduced their target price on Harmony Gold Mining from $3.80 to $3.40 and set a neutral rating for the company in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $3.40.
Harmony Gold Mining Price Performance
Harmony Gold Mining Increases Dividend
The firm also recently declared a Semi-Annual dividend, which was paid on Monday, October 23rd. Shareholders of record on Friday, October 13th were given a $0.032 dividend. This is an increase from Harmony Gold Mining’s previous Semi-Annual dividend of $0.01. This represents a yield of 0.8%. The ex-dividend date was Thursday, October 12th.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Point72 Middle East FZE bought a new position in Harmony Gold Mining in the 2nd quarter worth approximately $38,000. Advisor Group Holdings Inc. increased its position in Harmony Gold Mining by 378.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 11,714 shares of the mining company’s stock worth $39,000 after buying an additional 9,264 shares during the period. PNC Financial Services Group Inc. increased its position in Harmony Gold Mining by 137.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,273 shares of the mining company’s stock worth $43,000 after buying an additional 5,948 shares during the period. Citigroup Inc. bought a new position in Harmony Gold Mining in the 2nd quarter worth approximately $52,000. Finally, Sequoia Financial Advisors LLC bought a new position in Harmony Gold Mining in the 1st quarter worth approximately $54,000. 28.33% 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 also 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.
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