Harmony Gold Mining (NYSE:HMY) Cut to “Reduce” at HSBC

HSBC cut shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a reduce rating in a research note published on Friday morning, MarketBeat Ratings reports.

Several other brokerages also recently weighed in on HMY. StockNews.com downgraded Harmony Gold Mining from a strong-buy rating to a buy rating in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Harmony Gold Mining from $3.20 to $4.90 and gave the stock an underweight rating in a report on Wednesday.

Harmony Gold Mining Price Performance

Shares of NYSE HMY opened at $9.29 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $7.40 and its 200-day moving average price is $6.17. Harmony Gold Mining has a fifty-two week low of $3.41 and a fifty-two week high of $9.80.

Harmony Gold Mining Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, April 22nd. Shareholders of record on Friday, April 12th will be issued a dividend of $0.062 per share. This is an increase from Harmony Gold Mining’s previous Semi-Annual dividend of $0.03. This represents a yield of 1.2%. The ex-dividend date is Thursday, April 11th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Harmony Gold Mining by 7.8% during the 4th quarter. Van ECK Associates Corp now owns 57,717,855 shares of the mining company’s stock valued at $354,965,000 after acquiring an additional 4,163,528 shares in the last quarter. Exor Capital LLP boosted its position in Harmony Gold Mining by 11.5% during the 4th quarter. Exor Capital LLP now owns 29,744,388 shares of the mining company’s stock valued at $119,549,000 after acquiring an additional 3,079,485 shares in the last quarter. Renaissance Technologies LLC boosted its position in Harmony Gold Mining by 542.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,545,720 shares of the mining company’s stock valued at $11,098,000 after acquiring an additional 2,993,900 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Harmony Gold Mining during the 4th quarter valued at $7,335,000. Finally, Bank of America Corp DE boosted its position in Harmony Gold Mining by 33,544.1% during the 1st quarter. Bank of America Corp DE now owns 1,244,832 shares of the mining company’s stock valued at $5,104,000 after acquiring an additional 1,241,132 shares in the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.