Harmony Gold Mining (NYSE:HMY) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Zacks Research cut Harmony Gold Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, September 22nd. BMO Capital Markets began coverage on Harmony Gold Mining in a research note on Thursday, July 17th. They issued a “market perform” rating and a $16.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Wednesday. Finally, HSBC raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Harmony Gold Mining currently has a consensus rating of “Hold” and an average target price of $12.20.

Harmony Gold Mining Stock Performance

HMY stock opened at $18.27 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72. The stock has a market cap of $11.64 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.15 and a beta of 0.79. The firm has a 50 day simple moving average of $15.99 and a 200 day simple moving average of $15.25. Harmony Gold Mining has a 52 week low of $7.97 and a 52 week high of $19.68.

Harmony Gold Mining Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 10th will be given a dividend of $0.0893 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a yield of 98.0%. Harmony Gold Mining’s dividend payout ratio is presently 8.28%.

Institutional Investors Weigh In On Harmony Gold Mining

A number of large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its position in Harmony Gold Mining by 22.1% during the second quarter. Osaic Holdings Inc. now owns 7,436 shares of the mining company’s stock worth $104,000 after purchasing an additional 1,346 shares during the period. FORA Capital LLC bought a new stake in Harmony Gold Mining during the second quarter worth approximately $145,000. Headlands Technologies LLC bought a new stake in Harmony Gold Mining during the second quarter worth approximately $236,000. Rakuten Securities Inc. boosted its position in shares of Harmony Gold Mining by 92.8% in the second quarter. Rakuten Securities Inc. now owns 42,608 shares of the mining company’s stock valued at $595,000 after acquiring an additional 20,506 shares during the period. Finally, Vident Advisory LLC boosted its position in shares of Harmony Gold Mining by 6.8% in the second quarter. Vident Advisory LLC now owns 122,034 shares of the mining company’s stock valued at $1,705,000 after acquiring an additional 7,728 shares during the period. Institutional investors own 31.79% of the company’s stock.

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.