StockNews.com Downgrades Harmony Gold Mining (NYSE:HMY) to Hold

StockNews.com cut shares of Harmony Gold Mining (NYSE:HMY) from a buy rating to a hold rating in a report published on Tuesday.

Several other equities research analysts have also commented on the stock. Bank of America began coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upped their price target on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday.

Harmony Gold Mining Price Performance

Shares of HMY opened at $8.66 on Tuesday. 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’s 50 day moving average is $10.28 and its two-hundred day moving average is $9.68. Harmony Gold Mining has a 12 month low of $5.32 and a 12 month high of $12.29.

Harmony Gold Mining Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a dividend of $0.042 per share. The ex-dividend date was Friday, October 11th. This represents a yield of 1.2%.

Institutional Investors Weigh In On Harmony Gold Mining

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Harmony Gold Mining during the 3rd quarter valued at about $1,412,000. MML Investors Services LLC grew its position in shares of Harmony Gold Mining by 212.5% in the third quarter. MML Investors Services LLC now owns 31,405 shares of the mining company’s stock valued at $319,000 after purchasing an additional 21,356 shares in the last quarter. Dorsey Wright & Associates increased its holdings in shares of Harmony Gold Mining by 12.0% in the third quarter. Dorsey Wright & Associates now owns 378,630 shares of the mining company’s stock valued at $3,851,000 after purchasing an additional 40,592 shares during the last quarter. Wellington Management Group LLP lifted its position in Harmony Gold Mining by 76.8% during the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after buying an additional 1,162,292 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Harmony Gold Mining by 298.5% during the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock worth $525,000 after buying an additional 39,237 shares in the last quarter. 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.