Harmony Gold Mining (NYSE:HMY) Cut to “Reduce” at HSBC

HSBC cut shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a reduce rating in a report released on Friday morning, Marketbeat Ratings reports.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Harmony Gold Mining from $3.20 to $4.90 and gave the company an underweight rating in a research note on Wednesday, April 17th. StockNews.com downgraded shares of Harmony Gold Mining from a strong-buy rating to a buy rating in a research note on Friday, April 12th.

Harmony Gold Mining Stock Up 1.9 %

NYSE:HMY opened at $9.29 on Friday. Harmony Gold Mining has a one year low of $3.41 and a one year high of $9.80. The firm’s fifty day moving average price is $7.40 and its two-hundred day moving average price is $6.20. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08.

Harmony Gold Mining Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, April 22nd. Stockholders of record on Friday, April 12th will be issued a $0.062 dividend. The ex-dividend date is Thursday, April 11th. This represents a dividend yield of 1.2%. This is a boost from Harmony Gold Mining’s previous Semi-Annual dividend of $0.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HMY. Envestnet Asset Management Inc. bought a new position in shares of Harmony Gold Mining in the first quarter worth about $182,000. JPMorgan Chase & Co. increased its position in Harmony Gold Mining by 3.6% during the 1st quarter. JPMorgan Chase & Co. now owns 655,791 shares of the mining company’s stock valued at $3,299,000 after purchasing an additional 22,584 shares during the period. Raymond James & Associates acquired a new stake in Harmony Gold Mining during the 1st quarter valued at approximately $156,000. Bank of New York Mellon Corp acquired a new stake in Harmony Gold Mining during the 1st quarter valued at approximately $67,000. Finally, Private Advisor Group LLC acquired a new stake in Harmony Gold Mining during the 1st quarter valued at approximately $71,000. Institutional investors 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.