Saturday, June 25, 2022

Investing in Harmony Gold Mining Company Limited (HMY): What You Must Know

Morgan Stanley downgraded its Harmony Gold Mining Company Limited [HMY] rating to an Underweight from a an Equal-weight in a research note published on Tuesday. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late February from “an Underweight” to “an Overweight”. Macquarie also remained covering HMY and has decreased its forecast on August 28, 2018 with a “an Underperform” recommendation from previously “Neutral” rating. BofA/Merrill revised its rating on October 20, 2017. It rated HMY as “a Neutral” which previously was an “a Buy”.


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Price Performance Review of HMY

On Tuesday, Harmony Gold Mining Company Limited [NYSE:HMY] saw its stock jump 2.38% to $3.44. On the same session, the stock had its day’s lowest price of $3.31, but rose to a high of $3.44. Over the last five days, the stock has gained 9.55%. Harmony Gold Mining Company Limited shares have fallen nearly -16.30% since the year began. Nevertheless, the stocks have fallen -17.11% over the past one year. While a 52-week high of $5.50 was reached on 03/08/22, a 52-week low of $3.00 was recorded on 06/14/22. SMA at 50 days reached $3.83, while 200 days put it at $3.94.

Levels Of Support And Resistance For HMY Stock

The 24-hour chart illustrates a support level at 3.35, which if violated will result in even more drops to 3.27. On the upside, there is a resistance level at 3.48. A further resistance level may holdings at 3.53. The Relative Strength Index (RSI) on the 14-day chart is 47.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.71%. Stochastics %K at 52.45% indicates the stock is a holding.

Harmony Gold Mining Company Limited [HMY] – Who Are The Largest Shareholders?

At present, Dimensional Fund Advisors LP is holding 7,880,911 shares valued at $26.56 million. ETF Managers Group LLC owned 6,496,411 shares of the company at the time of its most recent 13F filing, worth $21.89 million.

According to FactSet, Harmony Gold Mining Company Limited’s share price will average $3.97 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.96 percent from its previous closing price of $3.36. Analysts expect Harmony Gold Mining Company Limited stock to reach the higher price of $5.16, while the lowest price estimate is $3.13. However, 8 analysts have rated HMY stock as a Hold in their predictions for 2022.

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