JPMorgan Chase & Co. Issues Positive Forecast for Harmony Gold Mining (NYSE:HMY) Stock Price

Harmony Gold Mining (NYSE:HMY) had its price target raised by JPMorgan Chase & Co. from $8.20 to $8.40 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the mining company’s stock.

Separately, Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating on the stock.

Harmony Gold Mining Price Performance

HMY stock opened at $8.82 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 1 year low of $5.32 and a 1 year high of $12.29. The company has a 50 day simple moving average of $10.28 and a 200 day simple moving average of $9.69.

Harmony Gold Mining Cuts Dividend

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

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of Harmony Gold Mining in the 1st quarter worth approximately $59,033,000. Van ECK Associates Corp increased its position in Harmony Gold Mining by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after purchasing an additional 2,206,537 shares during the period. Lazard Asset Management LLC bought a new position in shares of Harmony Gold Mining in the 1st quarter worth about $8,171,000. Acadian Asset Management LLC grew its position in Harmony Gold Mining by 111.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after purchasing an additional 977,142 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Harmony Gold Mining by 63.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after purchasing an additional 609,971 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors.

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.