Harmony Gold Mining (NYSE:HMY) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Harmony Gold Mining (NYSE:HMY) from a buy rating to a hold rating in a research note released on Tuesday morning.

HMY has been the topic of a number of other research reports. Bank of America started coverage on Harmony Gold Mining in a research report on Monday, October 21st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday.

Harmony Gold Mining Stock Performance

HMY stock opened at $8.66 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a one year low of $5.32 and a one year high of $12.29. The firm’s 50 day moving average price is $10.28 and its 200-day moving average price is $9.68.

Harmony Gold Mining Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given a $0.042 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend was Friday, October 11th.

Institutional Trading of Harmony Gold Mining

A number of hedge funds have recently added to or reduced their stakes in HMY. Public Employees Retirement System of Ohio purchased a new stake in shares of Harmony Gold Mining during the third quarter worth approximately $1,412,000. MML Investors Services LLC increased its stake in Harmony Gold Mining by 212.5% in the 3rd quarter. MML Investors Services LLC now owns 31,405 shares of the mining company’s stock valued at $319,000 after buying an additional 21,356 shares during the period. Dorsey Wright & Associates raised its position in Harmony Gold Mining by 12.0% during the 3rd quarter. Dorsey Wright & Associates now owns 378,630 shares of the mining company’s stock worth $3,851,000 after buying an additional 40,592 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Harmony Gold Mining by 76.8% in the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after acquiring an additional 1,162,292 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Harmony Gold Mining by 298.5% during the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock worth $525,000 after acquiring an additional 39,237 shares during the period. 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.