Bank of America initiated coverage on shares of Harmony Gold Mining (NYSE:HMY – Free Report) in a research note issued to investors on Monday, StockNewsAPI reports. The brokerage issued a neutral rating on the mining company’s stock.
Separately, JPMorgan Chase & Co. raised shares of Harmony Gold Mining from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $4.90 to $8.20 in a research report on Thursday, October 10th.
Get Our Latest Report on Harmony Gold Mining
Harmony Gold Mining Stock Performance
Harmony Gold Mining Cuts Dividend
The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given a dividend of $0.042 per share. This represents a yield of 1.2%. The ex-dividend date was Friday, October 11th. Harmony Gold Mining’s payout ratio is presently 5.76%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC purchased a new position in Harmony Gold Mining during the first quarter valued at approximately $712,000. SG Americas Securities LLC grew its position in Harmony Gold Mining by 225.6% in the first quarter. SG Americas Securities LLC now owns 108,954 shares of the mining company’s stock worth $890,000 after acquiring an additional 75,494 shares in the last quarter. Cetera Investment Advisers bought a new stake in Harmony Gold Mining in the first quarter worth approximately $2,097,000. Quantbot Technologies LP grew its position in Harmony Gold Mining by 201.9% in the first quarter. Quantbot Technologies LP now owns 92,956 shares of the mining company’s stock worth $759,000 after acquiring an additional 62,169 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its position in Harmony Gold Mining by 19.7% in the first quarter. Atomi Financial Group Inc. now owns 17,031 shares of the mining company’s stock worth $139,000 after acquiring an additional 2,801 shares in the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.
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.
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