Harmony Gold Mining (NYSE:HMY) Stock Price Up 5.7% – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price rose 5.7% during trading on Thursday . The company traded as high as $11.22 and last traded at $11.18. Approximately 820,180 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,828,153 shares. The stock had previously closed at $10.58.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upgraded Harmony Gold Mining from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $4.90 to $8.20 in a report on Thursday, October 10th.

Harmony Gold Mining Price Performance

The firm has a market capitalization of $7.45 billion, a P/E ratio of 8.47 and a beta of 1.79. 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 company’s 50 day moving average price is $10.07 and its 200 day moving average price is $9.45.

Harmony Gold Mining Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.042 per share. The ex-dividend date is Friday, October 11th. This represents a yield of 1.2%. Harmony Gold Mining’s dividend payout ratio is currently 5.76%.

Institutional Trading of Harmony Gold Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Harmony Gold Mining during the second quarter worth $41,000. St. Johns Investment Management Company LLC acquired a new position in Harmony Gold Mining in the 1st quarter valued at $52,000. GAMMA Investing LLC lifted its position in shares of Harmony Gold Mining by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock valued at $54,000 after acquiring an additional 1,496 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Harmony Gold Mining during the 1st quarter worth $61,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Harmony Gold Mining in the first quarter worth $77,000. 31.79% of the stock is owned by institutional investors.

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.