Zacks Investment Research Upgrades Harmony Gold Mining Co. (HMY) to “Hold”
According to Zacks, “Estimates for Harmony Gold have been stable lately. Harmony has a diverse portfolio of gold development projects spread across South Africa and PNG. The company is making a good progress with its Wafi-Golpu project. The company is also progressing well with its cost reduction program. Moreover, it remains focused on improving gold grades. However, Harmony is exposed to geopolitical risks associated with potential mine shut downs and labor strikes. Its operations are also likely to be impacted by a slower-than-expected ramp-up in production at mines and gold price volatility.”
Several other research analysts have also recently weighed in on the company. Deutsche Bank AG raised Harmony Gold Mining from a hold rating to a buy rating in a research note on Wednesday, July 6th. Citigroup Inc. reaffirmed a sell rating on shares of Harmony Gold Mining in a report on Thursday, August 18th. TheStreet raised Harmony Gold Mining from a sell rating to a hold rating in a report on Thursday, July 14th. Macquarie raised Harmony Gold Mining from an underperform rating to a neutral rating in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. raised Harmony Gold Mining from a neutral rating to an overweight rating in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Harmony Gold Mining has an average rating of Hold and a consensus price target of $5.00.
Shares of Harmony Gold Mining (NYSE:HMY) opened at 3.35 on Tuesday. Harmony Gold Mining has a one year low of $0.53 and a one year high of $4.87. The stock’s 50 day moving average price is $4.16 and its 200-day moving average price is $3.76. The stock has a market cap of $1.46 billion, a PE ratio of 22.19 and a beta of -0.96.
The firm also recently disclosed a semiannual dividend, which will be paid on Monday, September 26th. Investors of record on Friday, September 16th will be paid a $0.0372 dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 14th. Harmony Gold Mining’s dividend payout ratio is currently -4.11%.
Large investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Harmony Gold Mining by 4.6% in the first quarter. Royal Bank of Canada now owns 51,965 shares of the mining company’s stock valued at $189,000 after buying an additional 2,287 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Harmony Gold Mining by 37.2% in the second quarter. Profund Advisors LLC now owns 81,728 shares of the mining company’s stock valued at $295,000 after buying an additional 22,173 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Harmony Gold Mining by 27.5% in the second quarter. BNP Paribas Arbitrage SA now owns 111,835 shares of the mining company’s stock valued at $404,000 after buying an additional 24,089 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Harmony Gold Mining during the first quarter valued at about $103,000. Finally, Societe Generale acquired a new stake in shares of Harmony Gold Mining during the second quarter valued at about $121,000. 26.60% of the stock is owned by hedge funds and other institutional investors.
Harmony Gold Mining Company Profile
Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Company’s operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations.
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