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

Zacks Research upgraded shares of Harmony Gold Mining (NYSE:HMY) from a strong sell rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other analysts have also weighed in on HMY. HSBC raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Hsbc Global Res raised shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Wednesday, October 8th. Investec upgraded shares of Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. Finally, BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a report on Thursday, July 17th. They set a “market perform” rating and a $16.00 target price for the company. Two investment analysts have 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, Harmony Gold Mining has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Harmony Gold Mining Stock Up 1.8%

Shares of HMY stock opened at $16.63 on Tuesday. Harmony Gold Mining has a 1-year low of $7.97 and a 1-year high of $22.25. The business has a 50-day moving average of $16.83 and a 200 day moving average of $15.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72.

Harmony Gold Mining Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 10th were issued a $0.0893 dividend. The ex-dividend date was Friday, October 10th. This represents a yield of 98.0%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Colonial Trust Advisors purchased a new position in shares of Harmony Gold Mining in the 2nd quarter valued at approximately $26,000. Spire Wealth Management purchased a new position in Harmony Gold Mining during the first quarter valued at $33,000. Farther Finance Advisors LLC lifted its position in Harmony Gold Mining by 181.8% during the third quarter. Farther Finance Advisors LLC now owns 2,773 shares of the mining company’s stock valued at $50,000 after buying an additional 1,789 shares during the period. First Horizon Advisors Inc. purchased a new position in Harmony Gold Mining during the 2nd quarter valued at about $55,000. Finally, Hantz Financial Services Inc. lifted its position in Harmony Gold Mining by 533.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,449 shares of the mining company’s stock valued at $62,000 after acquiring an additional 3,747 shares during the period. Hedge funds and other 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.