Harmony Gold Mining Company Limited (NYSE:HMY – Get Rating) shares hit a new 52-week low on Friday . The company traded as low as $1.92 and last traded at $1.97, with a volume of 472945 shares trading hands. The stock had previously closed at $2.13.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on HMY. StockNews.com upgraded Harmony Gold Mining from a "sell" rating to a "hold" rating in a report on Thursday, September 1st. UBS Group downgraded Harmony Gold Mining from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 7th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $4.00.
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The business's 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $3.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 1.51.
Harmony Gold Mining Cuts Dividend
The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, October 24th. Investors of record on Friday, October 14th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, October 13th.Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Condire Management LP purchased a new stake in shares of Harmony Gold Mining during the 2nd quarter valued at about $18,398,000. Millennium Management LLC purchased a new stake in shares of Harmony Gold Mining during the second quarter valued at approximately $292,000. Sei Investments Co. lifted its position in shares of Harmony Gold Mining by 21.4% during the second quarter. Sei Investments Co. now owns 728,921 shares of the mining company's stock worth $2,279,000 after purchasing an additional 128,460 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Harmony Gold Mining by 41.2% in the second quarter. Quadrant Capital Group LLC now owns 11,182 shares of the mining company's stock valued at $35,000 after purchasing an additional 3,264 shares during the period. Finally, Virtu Financial LLC increased its stake in Harmony Gold Mining by 162.2% during the 2nd quarter. Virtu Financial LLC now owns 125,749 shares of the mining company's stock worth $394,000 after buying an additional 77,797 shares during the period. 27.46% of the stock is owned by hedge funds and other institutional investors.
About Harmony Gold Mining
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Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. It also explores for uranium, silver, copper, and molybdenum deposits. The company has nine underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface treatment operations in South Africa.
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