Harmony Gold Mining (NYSE:HMY) Stock Price Up 12% – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price rose 12% during trading on Wednesday . The company traded as high as $17.37 and last traded at $17.4570. Approximately 1,612,334 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 5,189,666 shares. The stock had previously closed at $15.58.

Analyst Ratings Changes

HMY has been the topic of a number of recent research reports. Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a report on Thursday, April 16th. Zacks Research cut shares of Harmony Gold Mining from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Stock Performance

The business’s 50-day moving average is $16.89 and its two-hundred day moving average is $18.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38.

Harmony Gold Mining Dividend Announcement

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

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in Harmony Gold Mining by 48.2% in the 3rd quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company’s stock valued at $105,916,000 after buying an additional 1,910,028 shares during the last quarter. FIL Ltd purchased a new stake in shares of Harmony Gold Mining during the 4th quarter worth $111,182,000. Goldman Sachs Group Inc. boosted its position in shares of Harmony Gold Mining by 215.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after purchasing an additional 3,806,468 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Harmony Gold Mining by 31.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,042,664 shares of the mining company’s stock worth $60,549,000 after purchasing an additional 736,233 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Harmony Gold Mining by 29.3% during the 4th quarter. Lazard Asset Management LLC now owns 2,988,156 shares of the mining company’s stock worth $59,464,000 after purchasing an additional 677,479 shares in the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Company Profile

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.