Harmony Gold Mining (NYSE:HMY) Trading 3% Higher – What’s Next?

Harmony Gold Mining Company Limited (NYSE:HMY) shot up 3% during trading on Monday . The stock traded as high as $14.37 and last traded at $14.48. 1,601,043 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,176,230 shares. The stock had previously closed at $14.06.

Analysts Set New Price Targets

Separately, StockNews.com raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Harmony Gold Mining Stock Performance

The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85. The stock’s 50-day simple moving average is $11.54 and its two-hundred day simple moving average is $10.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56.

Harmony Gold Mining Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.1245 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a dividend yield of 0.9%. Harmony Gold Mining’s payout ratio is 11.24%.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in Harmony Gold Mining by 5.5% in the 4th quarter. American Century Companies Inc. now owns 3,312,235 shares of the mining company’s stock valued at $27,193,000 after purchasing an additional 171,282 shares during the period. Wellington Management Group LLP lifted its stake 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 buying an additional 1,162,292 shares during the period. Millennium Management LLC grew its position in Harmony Gold Mining by 59.5% during the fourth quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company’s stock worth $21,635,000 after buying an additional 982,740 shares in the last quarter. ABC Arbitrage SA bought a new position in Harmony Gold Mining during the fourth quarter valued at about $20,229,000. Finally, Mackenzie Financial Corp raised its holdings in Harmony Gold Mining by 12.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,599,913 shares of the mining company’s stock valued at $13,135,000 after acquiring an additional 171,136 shares in the last quarter. Institutional investors and hedge funds own 31.79% of the company’s stock.

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.