Harmony Gold Mining Company Limited (NYSE:HMY) Plans $0.02 Semi-annual Dividend

Harmony Gold Mining Company Limited (NYSE:HMY) declared a semi-annual dividend on Friday, September 10th, Wall Street Journal reports. Stockholders of record on Friday, October 15th will be paid a dividend of 0.0189 per share by the mining company on Monday, October 25th. This represents a dividend yield of 2.5%. The ex-dividend date is Thursday, October 14th.

Harmony Gold Mining has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Harmony Gold Mining to earn $0.33 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 24.2%.

Shares of HMY opened at $3.69 on Wednesday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 0.46 and a beta of 0.97. The firm has a fifty day moving average of $3.48 and a 200-day moving average of $4.17. Harmony Gold Mining has a 1 year low of $3.00 and a 1 year high of $6.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.49.

A number of institutional investors have recently modified their holdings of HMY. Morgan Stanley raised its position in Harmony Gold Mining by 32.9% in the second quarter. Morgan Stanley now owns 531,499 shares of the mining company’s stock worth $1,982,000 after acquiring an additional 131,608 shares in the last quarter. OLD Mission Capital LLC raised its position in Harmony Gold Mining by 492.5% in the third quarter. OLD Mission Capital LLC now owns 69,369 shares of the mining company’s stock worth $366,000 after acquiring an additional 57,662 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Harmony Gold Mining by 36.4% in the second quarter. Bank of America Corp DE now owns 49,867 shares of the mining company’s stock worth $185,000 after acquiring an additional 13,319 shares in the last quarter. Hedge funds and other institutional investors own 26.70% of the company’s stock.

Several equities research analysts recently weighed in on HMY shares. Morgan Stanley downgraded shares of Harmony Gold Mining from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 22nd. JPMorgan Chase & Co. started coverage on shares of Harmony Gold Mining in a report on Friday, July 9th. They issued a “hold” rating and a $4.10 price objective for the company. Finally, Zacks Investment Research raised shares of Harmony Gold Mining from a “sell” rating to a “hold” rating and set a $4.50 price objective for the company in a report on Friday, July 30th.

About Harmony Gold Mining

Harmony Gold Mining Co Ltd. engages in mining and exploration of gold. It involves in building mines, open-pit operation, sales and financial management, land rehabilitation and mine closure. It operates through the following segments: Tshepong Operations, Phoenix, Kalgold, Waste Rock Dumps, Central Plant Reclamation, Moab Khotsong, Bambanani, Joel, Doornkop, Target 1, Kusasalethu, Masimong, and Unisel.

See Also: Dividend Kings

Dividend History for Harmony Gold Mining (NYSE:HMY)

Receive News & Ratings for Harmony Gold Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmony Gold Mining and related companies with MarketBeat.com's FREE daily email newsletter.