Bank of America Initiates Coverage on Harmony Gold Mining (NYSE:HMY)

Bank of America started coverage on shares of Harmony Gold Mining (NYSE:HMY) in a research report released on Monday, StockNewsAPI reports. The brokerage issued a neutral rating on the mining company’s stock.

Separately, JPMorgan Chase & Co. upgraded Harmony Gold Mining from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $4.90 to $8.20 in a report on Thursday, October 10th.

Harmony Gold Mining Trading Down 5.9 %

Shares of Harmony Gold Mining stock opened at $11.51 on Monday. Harmony Gold Mining has a 1-year low of $4.42 and a 1-year high of $12.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The stock has a market cap of $7.28 billion, a P/E ratio of 8.28 and a beta of 1.79. The stock’s 50 day simple moving average is $10.19 and its 200-day simple moving average is $9.52.

Harmony Gold Mining Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were issued a $0.042 dividend. This represents a yield of 1.2%. The ex-dividend date was Friday, October 11th. Harmony Gold Mining’s dividend payout ratio is presently 5.76%.

Institutional Trading of Harmony Gold Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new position in Harmony Gold Mining in the second quarter valued at about $41,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Harmony Gold Mining in the 1st quarter valued at approximately $52,000. GAMMA Investing LLC lifted its holdings in shares of Harmony Gold Mining by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock worth $54,000 after acquiring an additional 1,496 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Harmony Gold Mining during the 1st quarter worth approximately $61,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Harmony Gold Mining in the 1st quarter valued at approximately $77,000. 31.79% of the stock is owned by institutional investors and hedge funds.

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.