Harmony Gold Mining Company Limited (NYSE:HMY) Declares Dividend Increase – $0.12 Per Share

Harmony Gold Mining Company Limited (NYSE:HMY) declared a semi-annual dividend on Monday, March 10th, Wall Street Journal reports. Stockholders of record on Friday, April 11th will be paid a dividend of 0.1245 per share by the mining company on Monday, April 21st. This represents a dividend yield of 0.9%. The ex-dividend date is Friday, April 11th. This is a 196.3% increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04.

Harmony Gold Mining has raised its dividend by an average of 11.3% per year over the last three years. Harmony Gold Mining has a payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Harmony Gold Mining to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 7.4%.

Harmony Gold Mining Stock Performance

Shares of NYSE HMY opened at $11.51 on Tuesday. Harmony Gold Mining has a one year low of $7.15 and a one year high of $12.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The stock’s fifty day moving average price is $10.49 and its two-hundred day moving average price is $10.01. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 6.81, a P/E/G ratio of 0.63 and a beta of 1.85.

Analysts Set New Price Targets

Several research firms have recently weighed in on HMY. StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research note on Tuesday, November 12th.

About Harmony Gold Mining

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.