Harmony Gold Mining (NYSE:HMY) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Harmony Gold Mining (NYSE:HMY) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings raised Harmony Gold Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Zacks Research raised Harmony Gold Mining to a “hold” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Harmony Gold Mining Trading Down 1.2%

Shares of Harmony Gold Mining stock opened at $16.68 on Friday. Harmony Gold Mining has a 12-month low of $13.03 and a 12-month high of $26.06. The firm’s 50-day moving average price is $19.42 and its two-hundred day moving average price is $17.34.

Harmony Gold Mining Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, October 19th. Investors of record on Friday, October 9th will be issued a dividend of $0.4611 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a dividend yield of 546.0%.

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of Harmony Gold Mining by 15.1% during the third quarter. Farther Finance Advisors LLC now owns 4,883 shares of the mining company’s stock valued at $87,000 after acquiring an additional 642 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Harmony Gold Mining by 7.6% during the second quarter. GAMMA Investing LLC now owns 9,548 shares of the mining company’s stock worth $145,000 after purchasing an additional 678 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Harmony Gold Mining by 15.5% during the first quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock worth $98,000 after purchasing an additional 852 shares during the period. Royal Bank of Canada grew its stake in shares of Harmony Gold Mining by 11.5% in the first quarter. Royal Bank of Canada now owns 11,003 shares of the mining company’s stock worth $169,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Harmony Gold Mining in the fourth quarter worth $36,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South African-based gold producer engaged in the exploration, extraction, processing and refining of gold. The company operates a portfolio of underground and surface mines, supported by related processing facilities and exploration activities.

Harmony’s operations are primarily located in South Africa, with additional assets in Papua New Guinea. Its international portfolio includes the Hidden Valley open-pit gold and silver mine, while the company also participates in the Wafi-Golpu copper-gold development project in Papua New Guinea.