Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 13,320,000 shares, a growth of 26.0% from the March 31st total of 10,570,000 shares. Based on an average trading volume of 6,450,000 shares, the days-to-cover ratio is presently 2.1 days.
Institutional Investors Weigh In On Harmony Gold Mining
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in shares of Harmony Gold Mining during the fourth quarter valued at approximately $1,723,000. Citigroup Inc. raised its stake in Harmony Gold Mining by 59.4% during the third quarter. Citigroup Inc. now owns 19,755 shares of the mining company's stock valued at $74,000 after buying an additional 7,361 shares during the last quarter. Fifth Third Bancorp bought a new stake in Harmony Gold Mining in the fourth quarter worth $34,000. Rathbones Group PLC grew its stake in shares of Harmony Gold Mining by 977.4% in the third quarter. Rathbones Group PLC now owns 126,060 shares of the mining company's stock worth $475,000 after acquiring an additional 114,360 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Harmony Gold Mining by 26.2% in the third quarter. American Century Companies Inc. now owns 2,750,629 shares of the mining company's stock worth $10,342,000 after buying an additional 571,247 shares during the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on HMY. JPMorgan Chase & Co. boosted their price target on Harmony Gold Mining from $3.20 to $4.90 and gave the company an "underweight" rating in a report on Wednesday, April 17th. HSBC downgraded Harmony Gold Mining from a "hold" rating to a "reduce" rating in a report on Friday, April 19th. Finally, StockNews.com cut shares of Harmony Gold Mining from a "strong-buy" rating to a "buy" rating in a report on Friday, April 12th.
Check Out Our Latest Stock Report on Harmony Gold Mining
Harmony Gold Mining Stock Down 6.0 %
HMY traded down $0.55 on Tuesday, hitting $8.56. The company had a trading volume of 5,589,372 shares, compared to its average volume of 5,940,817. Harmony Gold Mining has a 52-week low of $3.41 and a 52-week high of $9.80. The stock has a fifty day simple moving average of $7.85 and a 200-day simple moving average of $6.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.11. The firm has a market capitalization of $5.42 billion, a P/E ratio of 7.51 and a beta of 1.71.
Harmony Gold Mining Increases Dividend
The company also recently announced a Semi-Annual dividend, which was paid on Monday, April 22nd. Stockholders of record on Friday, April 12th were paid a $0.062 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, April 11th. This is a boost from Harmony Gold Mining's previous Semi-Annual dividend of $0.03. Harmony Gold Mining's dividend payout ratio (DPR) is presently 10.53%.
Harmony Gold Mining Company Profile
(Get Free Report)
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.
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