Harmony Gold Mining (NYSE:HMY) Cut to “Strong Sell” at Zacks Research

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

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

Harmony Gold Mining Stock Performance

NYSE HMY opened at $17.24 on Monday. The business’s 50-day moving average price is $15.02 and its 200 day moving average price is $14.74. Harmony Gold Mining has a 52-week low of $7.97 and a 52-week high of $18.77. The firm has a market cap of $10.94 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.15 and a beta of 0.80. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Harmony Gold Mining Dividend Announcement

The company 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 $0.0893 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 120.0%. Harmony Gold Mining’s payout ratio is currently 11.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantinno Capital Management LP acquired a new position in shares of Harmony Gold Mining during the fourth quarter valued at $132,000. Two Sigma Investments LP lifted its position in Harmony Gold Mining by 274.0% in the fourth quarter. Two Sigma Investments LP now owns 498,405 shares of the mining company’s stock worth $4,092,000 after purchasing an additional 365,132 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Harmony Gold Mining by 9.5% in the fourth quarter. Two Sigma Advisers LP now owns 145,100 shares of the mining company’s stock valued at $1,191,000 after buying an additional 12,600 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at $279,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at $130,000. 31.79% of the stock is owned by institutional investors and hedge funds.

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.