Harmony Gold Mining (NYSE:HMY) Shares Down 2.8%

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price dropped 2.8% on Wednesday . The company traded as low as $9.78 and last traded at $9.80. Approximately 328,376 shares were traded during trading, a decline of 93% from the average daily volume of 4,950,671 shares. The stock had previously closed at $10.08.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price target on Harmony Gold Mining from $5.80 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, July 3rd.

Harmony Gold Mining Price Performance

The company’s 50-day moving average is $9.67 and its 200 day moving average is $9.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07.

Harmony Gold Mining Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 11th will be given a dividend of $0.042 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 11th.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in HMY. Ashton Thomas Private Wealth LLC acquired a new position in Harmony Gold Mining in the second quarter worth approximately $41,000. St. Johns Investment Management Company LLC bought a new position in shares of Harmony Gold Mining during the 1st quarter valued at $52,000. GAMMA Investing LLC raised its holdings in shares of Harmony Gold Mining by 29.2% during the 1st 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 shares of Harmony Gold Mining in the 1st quarter valued at $61,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Harmony Gold Mining in the first quarter worth $77,000. 31.79% of the stock is 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.