Harmony Gold Mining Sees Unusually Large Options Volume (NYSE:HMY)

Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) saw unusually large options trading activity on Wednesday. Investors bought 3,094 call options on the stock. This is an increase of approximately 64% compared to the typical volume of 1,882 call options.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HMY. Bank of America began coverage on shares of Harmony Gold Mining in a research note on Monday. They issued a "neutral" rating for the company. JPMorgan Chase & Co. upgraded Harmony Gold Mining from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $4.90 to $8.20 in a report on Thursday, October 10th.

Harmony Gold Mining Stock Down 5.9 %

NYSE HMY traded down $0.72 during trading hours on Wednesday, hitting $11.51. The company's stock had a trading volume of 4,656,683 shares, compared to its average volume of 4,850,978. The company has a market capitalization of $7.28 billion, a PE ratio of 8.28 and a beta of 1.79. Harmony Gold Mining has a 52 week low of $4.42 and a 52 week high of $12.29. The company's 50-day simple moving average is $10.19 and its two-hundred day simple moving average is $9.52. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Harmony Gold Mining Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given a $0.042 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend was Friday, October 11th. Harmony Gold Mining's payout ratio is currently 5.76%.

Hedge Funds Weigh In On Harmony Gold Mining

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in shares of Harmony Gold Mining by 30.0% during the first quarter. Van ECK Associates Corp now owns 75,016,459 shares of the mining company's stock valued at $612,884,000 after acquiring an additional 17,298,604 shares during the last quarter. Tidal Investments LLC purchased a new position in Harmony Gold Mining in the first quarter valued at about $59,033,000. Lazard Asset Management LLC bought a new position in shares of Harmony Gold Mining during the 1st quarter valued at approximately $8,171,000. Acadian Asset Management LLC increased its stake in shares of Harmony Gold Mining by 111.5% during 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 last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Harmony Gold Mining in the 4th quarter worth approximately $4,667,000. 31.79% of the stock is currently 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.