Harmony Gold Mining Company Limited (NYSE:HMY) Sees Large Decrease in Short Interest

Harmony Gold Mining Company Limited (NYSE:HMY) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 6,830,000 shares, a decrease of 13.5% from the October 15th total of 7,900,000 shares. Based on an average daily trading volume, of 3,980,000 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently added to or reduced their stakes in HMY. Van ECK Associates Corp boosted its position in shares of Harmony Gold Mining by 3.3% during the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after buying an additional 2,206,537 shares during the period. Tidal Investments LLC purchased a new position in Harmony Gold Mining during the 1st quarter valued at $59,033,000. Wellington Management Group LLP grew its position in Harmony Gold Mining by 76.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after acquiring an additional 1,162,292 shares during the last quarter. Acadian Asset Management LLC increased its stake in Harmony Gold Mining by 111.5% in the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after purchasing an additional 977,142 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Harmony Gold Mining by 63.7% during the second quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock worth $14,374,000 after purchasing an additional 609,971 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HMY has been the topic of several recent research reports. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America began coverage on shares of Harmony Gold Mining in a research report on Monday, October 21st. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Harmony Gold Mining Price Performance

HMY traded up $0.65 during trading on Monday, reaching $9.31. The company had a trading volume of 5,813,084 shares, compared to its average volume of 4,857,964. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The business has a 50 day simple moving average of $10.28 and a 200-day simple moving average of $9.69. Harmony Gold Mining has a 52 week low of $5.40 and a 52 week high of $12.29.

Harmony Gold Mining Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Investors 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 dividend yield of 1.2%.

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.