Harmony Gold Mining (NYSE:HMY) Trading Up 5.7% – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) rose 5.7% on Thursday . The company traded as high as $11.22 and last traded at $11.18. Approximately 820,180 shares traded hands during trading, a decline of 83% from the average daily volume of 4,828,153 shares. The stock had previously closed at $10.58.

Analysts Set New Price Targets

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

Harmony Gold Mining Price Performance

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 company has a 50-day moving average of $9.99 and a 200-day moving average of $9.41.

Harmony Gold Mining Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 11th will be given a dividend of $0.042 per share. This represents a dividend yield of 1.2%. The ex-dividend date is Friday, October 11th.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in Harmony Gold Mining by 30.0% during the 1st quarter. Van ECK Associates Corp now owns 75,016,459 shares of the mining company’s stock worth $612,884,000 after purchasing an additional 17,298,604 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Harmony Gold Mining during the first quarter worth about $59,033,000. Acadian Asset Management LLC raised its position in Harmony Gold Mining by 111.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after buying an additional 977,142 shares during the last quarter. AQR Capital Management LLC lifted its stake in Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after acquiring an additional 609,971 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Harmony Gold Mining in the 1st quarter valued at approximately $8,171,000. 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.