Harmony Gold Mining (NYSE:HMY) Hits New 52-Week High – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.79 and last traded at $14.77, with a volume of 9126759 shares. The stock had previously closed at $14.06.

Wall Street Analysts Forecast Growth

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 Price Performance

The firm’s 50-day simple moving average is $11.83 and its 200 day simple moving average is $10.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market capitalization of $9.58 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85.

Harmony Gold Mining Increases Dividend

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

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently modified their holdings of HMY. Grove Bank & Trust grew its holdings in shares of Harmony Gold Mining by 400.0% in the 4th quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after acquiring an additional 4,000 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Harmony Gold Mining by 230.3% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock worth $48,000 after buying an additional 4,081 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of Harmony Gold Mining during the 4th quarter worth $75,000. Quantbot Technologies LP purchased a new stake in shares of Harmony Gold Mining in the 4th quarter worth about $77,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Harmony Gold Mining in the 4th quarter valued at about $82,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.