Short Interest in Harmony Gold Mining Company Limited (NYSE:HMY) Drops By 13.5%

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 6,830,000 shares, a drop of 13.5% from the October 15th total of 7,900,000 shares. Based on an average trading volume of 3,980,000 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

HMY has been the topic of several analyst reports. StockNews.com lowered shares of Harmony Gold Mining from a "buy" rating to a "hold" rating in a research report on Tuesday. Bank of America started coverage on Harmony Gold Mining in a research report on Monday, October 21st. They issued a "neutral" rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a "neutral" rating in a report on Tuesday.

Harmony Gold Mining Stock Down 1.8 %

Shares of NYSE:HMY traded down $0.16 during mid-day trading on Friday, reaching $8.65. 23,130,700 shares of the company were exchanged, compared to its average volume of 4,853,657. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. Harmony Gold Mining has a 1 year low of $5.32 and a 1 year high of $12.29. The firm's 50-day simple moving average is $10.28 and its 200 day simple moving average is $9.68.

Harmony Gold Mining Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were issued a dividend of $0.042 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend was Friday, October 11th.

Institutional Trading of Harmony Gold Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at $59,033,000. Van ECK Associates Corp boosted its stake in shares of Harmony Gold Mining by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company's stock valued at $700,663,000 after buying an additional 2,206,537 shares during the period. Wellington Management Group LLP grew its position in shares of Harmony Gold Mining by 76.8% during the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company's stock worth $27,219,000 after buying an additional 1,162,292 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Harmony Gold Mining during the first quarter worth approximately $8,171,000. Finally, Acadian Asset Management LLC raised its holdings in Harmony Gold Mining by 111.5% in the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company's stock valued at $16,978,000 after acquiring an additional 977,142 shares in the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.