According to Zacks, “Estimates for Harmony Gold have been stable lately. Harmony has a diverse portfolio of gold development projects spread across South Africa and PNG. The company is making a good progress with its Wafi-Golpu project. The company is also progressing well with its cost reduction program. Moreover, it remains focused on improving gold grades. However, Harmony is exposed to geopolitical risks associated with potential mine shut downs and labor strikes. Its operations are also likely to be impacted by a slower-than-expected ramp-up in production at mines and gold price volatility. “
A number of other analysts also recently issued reports on HMY. JPMorgan Chase & Co. raised Harmony Gold Mining from a neutral rating to an overweight rating in a research report on Tuesday, July 12th. TheStreet raised Harmony Gold Mining from a sell rating to a hold rating in a research report on Thursday, July 14th. Citigroup Inc. reissued a sell rating on shares of Harmony Gold Mining in a research report on Thursday, August 18th. Deutsche Bank AG raised Harmony Gold Mining from a hold rating to a buy rating in a research report on Wednesday, July 6th. Finally, Macquarie raised Harmony Gold Mining from an underperform rating to a neutral rating in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Harmony Gold Mining presently has an average rating of Hold and a consensus target price of $5.00.
Harmony Gold Mining (NYSE:HMY) opened at 3.45 on Wednesday. Harmony Gold Mining has a 12-month low of $0.53 and a 12-month high of $4.87. The firm has a market cap of $1.50 billion, a PE ratio of 22.55 and a beta of -0.96. The stock’s 50 day moving average price is $3.90 and its 200-day moving average price is $3.78.
The business also recently declared a semiannual dividend, which was paid on Monday, September 26th. Stockholders of record on Friday, September 16th were issued a $0.0372 dividend. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 14th. Harmony Gold Mining’s payout ratio is currently -4.11%.
Several institutional investors have recently bought and sold shares of HMY. Boothbay Fund Management LLC bought a new position in Harmony Gold Mining during the first quarter worth approximately $103,000. Societe Generale bought a new position in Harmony Gold Mining during the second quarter worth approximately $121,000. Barclays PLC raised its position in Harmony Gold Mining by 1,457.1% in the second quarter. Barclays PLC now owns 40,485 shares of the mining company’s stock worth $146,000 after buying an additional 37,885 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Harmony Gold Mining during the second quarter worth approximately $167,000. Finally, Royal Bank of Canada raised its position in Harmony Gold Mining by 4.6% in the first quarter. Royal Bank of Canada now owns 51,965 shares of the mining company’s stock worth $189,000 after buying an additional 2,287 shares during the last quarter. 26.06% of the stock is owned by hedge funds and other institutional investors.
Harmony Gold Mining Company Profile
Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Company’s operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations.
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