Connor Clark & Lunn Investment Management Ltd. Increases Position in Harmony Gold Mining Company Limited (NYSE:HMY)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Harmony Gold Mining Company Limited (NYSE:HMY) by 27.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 792,263 shares of the mining company’s stock after acquiring an additional 170,175 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Harmony Gold Mining were worth $8,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HMY. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Harmony Gold Mining in the 3rd quarter valued at $192,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Harmony Gold Mining during the third quarter worth about $210,000. Assetmark Inc. purchased a new position in Harmony Gold Mining during the third quarter worth about $501,000. Hara Capital LLC acquired a new stake in Harmony Gold Mining in the third quarter valued at about $38,000. Finally, Ground Swell Capital LLC purchased a new stake in Harmony Gold Mining in the 3rd quarter valued at approximately $115,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th. StockNews.com raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating on the stock.

Harmony Gold Mining Stock Up 0.6 %

Shares of NYSE:HMY opened at $9.63 on Friday. The stock has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $9.70. Harmony Gold Mining Company Limited has a 1 year low of $5.40 and a 1 year high of $12.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market capitalization of $6.11 billion, a P/E ratio of 7.08, a PEG ratio of 0.45 and a beta of 1.77.

Harmony Gold Mining Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a dividend of $0.042 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, October 11th. Harmony Gold Mining’s dividend payout ratio (DPR) is currently 6.62%.

Harmony Gold Mining 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.