Harmony Gold Mining (NYSE:HMY) Upgraded to Neutral by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Harmony Gold Mining (NYSE:HMY) from an underweight rating to a neutral rating in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have $8.20 price objective on the mining company’s stock, up from their prior price objective of $4.90.

Harmony Gold Mining Stock Performance

HMY traded down $0.01 during mid-day trading on Thursday, reaching $10.01. The stock had a trading volume of 815,688 shares, compared to its average volume of 4,857,882. The firm’s fifty day simple moving average is $9.90 and its two-hundred day simple moving average is $9.33. Harmony Gold Mining has a 52 week low of $4.42 and a 52 week high of $11.37. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

Harmony Gold Mining Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 11th will be paid a $0.042 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 11th.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Harmony Gold Mining in the second quarter worth about $41,000. St. Johns Investment Management Company LLC bought a new position in Harmony Gold Mining during the 1st quarter worth about $52,000. GAMMA Investing LLC lifted its holdings in shares of Harmony Gold Mining by 29.2% in the first quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock valued at $54,000 after purchasing an additional 1,496 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Harmony Gold Mining in the 1st quarter valued at approximately $61,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Harmony Gold Mining in the first quarter valued at $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.