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What Is The Outlook For Harmony Gold Mining Company Limited (NYSE: HMY) Like For Short-Term?

Harmony Gold Mining Company Limited (NYSE:HMY) traded at $3.76 at close of the session on Tuesday, 01/24/23, made a downward move of -1.57% on its previous day’s price.

Looking at the stock we see that its previous close was $3.82 and the beta (5Y monthly) reads 0.65 with the day’s price range being $3.66 – $3.79. In terms of its 52-week price range, HMY has a high of $5.50 and a low of $1.93. The company’s stock has gained about 10.59% over that past 30 days.

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Harmony Gold Mining Company Limited has a market cap of $2.31 billion. With its Forward Dividend at 0.04 and a yield of 1.06%, the company’s investors could be anxious for the HMY stock to gain ahead of the earnings release.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the HMY stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 7 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Harmony Gold Mining Company Limited (HMY) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 2 of them rated it as underweight, whereas 3 suggest the stock as a Sell. The stock has an overall rating of Underweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 1.09% off its SMA20 and 5.99% from its 50-day simple moving average. The RSI (14) is pointing at 53.65 while the volatility over the past week is 3.86% and jumps to 3.89% over the past one month. The beta value is 1.26, while the average true range (ATR) is currently pointing at 0.16. The average price target for the stock over the next 12 months is $3.37, with the estimates having a low of $2.20 and a high of $4.36. These price ends are 41.49% and -15.96% off the current price level respectively, although investors could be excited at the prospect of a 6.38% if the HMY share price touches on the median price of $3.52.

Let’s briefly compare Harmony Gold Mining Company Limited (HMY) stock to its peers. We find that current price change of -1.57% and -7.84% over the past 12 months for HMY competes that of Gold Fields Limited (GFI), which has seen its stock price fall -0.33% in the last trading session and was 11.44% over the last one year. Another of its peers AngloGold Ashanti Limited (AU) has dropped -2.53% previous session, and was 8.59% up over the past year, while DRDGOLD Limited (DRD) was also up 1.78% in the last session, while its price remained in the green at 1.90% over the same period.. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.

Coming back to Harmony Gold Mining Company Limited (NYSE:HMY), we note that the average 3-month trading volume was 4.48 million, while that of the preceding 10-day period stands at 3.52 million. Current shares outstanding are 612.46 million.

The insiders hold 15.10% of the company’s shares while institutions hold 36.00%. The data shows that short shares as of Oct 13, 2022, stood at 17.29 million at a short ratio of 2.04. This represents a 2.80% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 16.39 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 10.59% up in year-to-date price movement.

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