Harmony Gold Mining (NYSE:HMY) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Harmony Gold Mining (NYSE:HMY) in a report released on Monday morning, StockNewsAPI reports. The firm issued a neutral rating on the mining company’s stock.

Separately, JPMorgan Chase & Co. upgraded Harmony Gold Mining from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $4.90 to $8.20 in a research note on Thursday, October 10th.

Harmony Gold Mining Stock Performance

Harmony Gold Mining stock opened at $12.04 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The stock has a fifty day moving average price of $10.12 and a two-hundred day moving average price of $9.49. Harmony Gold Mining has a 52-week low of $4.42 and a 52-week high of $12.22. The firm has a market capitalization of $7.62 billion, a P/E ratio of 8.66 and a beta of 1.79.

Harmony Gold Mining Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.042 dividend. The ex-dividend date was Friday, October 11th. This represents a dividend yield of 1.2%. Harmony Gold Mining’s dividend payout ratio (DPR) is presently 5.76%.

Institutional Trading of Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Harmony Gold Mining in the second quarter valued at $41,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at $52,000. GAMMA Investing LLC increased its stake in shares of Harmony Gold Mining by 29.2% in the first quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock valued at $54,000 after buying an additional 1,496 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at $61,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at $77,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

Harmony Gold Mining Company Profile

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.