Harmony Gold Mining Company Limited (NYSE:HMY) Raises Dividend to $0.12 Per Share

Harmony Gold Mining Company Limited (NYSE:HMY) declared a semi-annual dividend on Monday, March 10th, Wall Street Journal reports. Shareholders of record on Friday, April 11th will be paid a dividend of 0.1245 per share by the mining company on Monday, April 21st. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, April 11th. This is a 196.3% increase from Harmony Gold Mining’s previous semi-annual dividend of $0.04.

Harmony Gold Mining has increased its dividend payment by an average of 11.3% per year over the last three years. Harmony Gold Mining has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Harmony Gold Mining to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 7.4%.

Harmony Gold Mining Trading Down 2.8 %

Shares of NYSE:HMY traded down $0.34 during mid-day trading on Monday, hitting $11.51. The stock had a trading volume of 6,536,907 shares, compared to its average volume of 5,177,567. The company’s 50 day moving average is $10.42 and its 200-day moving average is $10.00. Harmony Gold Mining has a 12-month low of $7.15 and a 12-month high of $12.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market cap of $7.30 billion, a PE ratio of 6.81, a P/E/G ratio of 0.63 and a beta of 1.85.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HMY. StockNews.com raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

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.