Harmony Gold Mining (NYSE:HMY) Sets New 1-Year High – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $16.48 and last traded at $16.24, with a volume of 13064485 shares. The stock had previously closed at $14.69.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

Harmony Gold Mining Stock Performance

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 stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42. The stock’s 50 day moving average is $12.31 and its two-hundred day moving average is $10.63.

Harmony Gold Mining Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.1245 per share. This is an increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, April 11th. Harmony Gold Mining’s payout ratio is currently 11.24%.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently bought and sold shares of the company. Grove Bank & Trust grew its holdings in shares of Harmony Gold Mining by 400.0% during the fourth quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after purchasing an additional 4,000 shares during the last quarter. Jones Financial Companies Lllp grew its position in Harmony Gold Mining by 230.3% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock valued at $48,000 after purchasing an additional 4,081 shares during the period. Parallel Advisors LLC increased its stake in Harmony Gold Mining by 71.4% during the 1st quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company’s stock valued at $70,000 after purchasing an additional 1,961 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Harmony Gold Mining in the fourth quarter worth approximately $75,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $77,000. 31.79% of the stock is owned by 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.