Harmony Gold Mining Company Limited (NYSE:HMY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Harmony Gold Mining Company Limited (NYSE:HMY) has received an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.00.

A number of analysts have recently issued reports on HMY shares. Zacks Research upgraded shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a report on Thursday, April 16th. Finally, Wall Street Zen raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Sunday.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans bought a new position in Harmony Gold Mining during the third quarter worth $1,123,000. Assenagon Asset Management S.A. bought a new position in Harmony Gold Mining during the fourth quarter worth $17,832,000. Alps Advisors Inc. boosted its position in Harmony Gold Mining by 34.5% during the third quarter. Alps Advisors Inc. now owns 1,405,825 shares of the mining company’s stock worth $25,516,000 after purchasing an additional 360,673 shares during the period. Aquatic Capital Management LLC boosted its position in Harmony Gold Mining by 78.7% during the third quarter. Aquatic Capital Management LLC now owns 332,461 shares of the mining company’s stock worth $6,034,000 after purchasing an additional 146,459 shares during the period. Finally, Ninety One UK Ltd bought a new position in Harmony Gold Mining during the fourth quarter worth $6,939,000. 31.79% of the stock is owned by institutional investors.

Harmony Gold Mining Stock Down 3.4%

NYSE HMY opened at $17.66 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. Harmony Gold Mining has a 12-month low of $12.58 and a 12-month high of $26.06. The firm’s 50 day moving average is $16.50 and its 200-day moving average is $18.85.

Harmony Gold Mining Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were paid a $0.3124 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a dividend yield of 372.0%.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.