Harmony Gold Mining (NYSE:HMY) Trading 9.8% Higher – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) traded up 9.8% on Friday . The company traded as high as $19.32 and last traded at $19.23. 4,917,947 shares were traded during mid-day trading, a decline of 7% from the average session volume of 5,291,410 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Morgan Stanley upgraded Harmony Gold Mining to an “overweight” rating in a report on Thursday. Wall Street Zen downgraded Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Trading Up 6.7%

The stock’s 50-day moving average price is $17.95 and its 200-day moving average price is $19.01. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03.

Harmony Gold Mining Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be issued a dividend of $0.3124 per share. The ex-dividend date is Friday, April 24th. This represents a yield of 430.0%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HMY. Jones Financial Companies Lllp raised its holdings in Harmony Gold Mining by 210.4% during the first quarter. Jones Financial Companies Lllp now owns 18,165 shares of the mining company’s stock worth $268,000 after buying an additional 12,312 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock valued at $82,289,000 after acquiring an additional 3,806,468 shares in the last quarter. New York State Common Retirement Fund bought a new position in Harmony Gold Mining in the 2nd quarter valued at about $171,000. Arrowstreet Capital Limited Partnership purchased a new stake in Harmony Gold Mining in the 2nd quarter valued at about $424,000. Finally, EverSource Wealth Advisors LLC increased its stake in Harmony Gold Mining by 13.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,516 shares of the mining company’s stock valued at $147,000 after buying an additional 1,280 shares during the last quarter. Institutional investors and hedge funds own 31.79% of the company’s stock.

About Harmony Gold Mining

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.