Harmony Gold Mining (NYSE:HMY) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Harmony Gold Mining (NYSE:HMY - Free Report) from a buy rating to a hold rating in a report released on Thursday.

HMY has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Bank of America assumed coverage on Harmony Gold Mining in a research report on Monday, October 21st. They set a "neutral" rating for the company.

Harmony Gold Mining Price Performance

HMY stock traded down $0.19 during midday trading on Thursday, reaching $9.07. 3,641,026 shares of the stock were exchanged, compared to its average volume of 4,846,702. Harmony Gold Mining has a 52 week low of $5.40 and a 52 week high of $12.29. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $10.26 and a 200 day moving average price of $9.72.

Harmony Gold Mining Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given 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 Inflows and Outflows

Several large investors have recently bought and sold shares of HMY. Van ECK Associates Corp raised its holdings in shares of Harmony Gold Mining by 3.3% during the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company's stock valued at $700,663,000 after purchasing an additional 2,206,537 shares during the period. Wellington Management Group LLP increased its holdings in 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 during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Harmony Gold Mining by 111.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company's stock worth $16,978,000 after purchasing an additional 977,142 shares during the period. AQR Capital Management LLC increased its holdings in Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company's stock worth $14,374,000 after acquiring an additional 609,971 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Harmony Gold Mining by 27.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company's stock valued at $8,057,000 after purchasing an additional 170,175 shares during the period. 31.79% of the stock is owned by institutional investors.

Harmony Gold Mining Company Profile

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.