Van ECK Associates Corp Sells 4,781,528 Shares of Harmony Gold Mining Company Limited $HMY

Van ECK Associates Corp trimmed its stake in shares of Harmony Gold Mining Company Limited (NYSE:HMY) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,612,617 shares of the mining company’s stock after selling 4,781,528 shares during the quarter. Van ECK Associates Corp owned approximately 5.28% of Harmony Gold Mining worth $668,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Harmony Gold Mining during the third quarter worth about $25,000. TD Private Client Wealth LLC bought a new position in shares of Harmony Gold Mining during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Harmony Gold Mining during the fourth quarter worth about $26,000. Assetmark Inc. raised its position in shares of Harmony Gold Mining by 907.5% during the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Harmony Gold Mining during the fourth quarter worth about $36,000. 31.79% of the stock is currently owned by institutional investors.

Harmony Gold Mining Trading Up 4.2%

Shares of NYSE:HMY opened at $15.84 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. The business has a fifty day moving average price of $16.78 and a two-hundred day moving average price of $18.77. Harmony Gold Mining Company Limited has a 1 year low of $12.58 and a 1 year high of $26.06.

Harmony Gold Mining Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were paid a $0.3124 dividend. This represents a yield of 372.0%. The ex-dividend date was Friday, April 24th.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HMY. Wall Street Zen upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Zacks Research upgraded Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Morgan Stanley upgraded Harmony Gold Mining to an “overweight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Harmony Gold Mining currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Profile

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.