Harmony Gold Mining Company Limited [HMY] Is Currently 1.16 below its 200 Period Moving Avg: What Does This Mean?

Harmony Gold Mining Company Limited [NYSE: HMY] gained 1.16% on the last trading session, reaching $3.48 price per share at the time. The company report on October 6, 2022 that Copper Mountain Mining Announces Agreement to Sell the Eva Copper Project and the Australian Exploration Tenements for Total Consideration of up to US$230 Million.


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Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper Mountain”) is pleased to announce it has entered into a definitive agreement with Harmony Gold Mining Company Limited (JSE: HAR) (NYSE: HMY) (“Harmony”) to sell its wholly-owned Eva Copper Project and its 2,100km2 exploration land package in Queensland, Australia for total consideration of up to US$230 million (the “Transaction”).

Under the terms of the Transaction, Copper Mountain will receive the following consideration:.

If compared to the average trading volume of 6.41M shares, HMY reached a trading volume of 6223015 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Harmony Gold Mining Company Limited [HMY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HMY shares is $3.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HMY stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for Harmony Gold Mining Company Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 07, 2022. The new note on the price target was released on June 23, 2021, representing the official price target for Harmony Gold Mining Company Limited stock.

The Average True Range (ATR) for Harmony Gold Mining Company Limited is set at 0.17, with the Price to Sales ratio for HMY stock in the period of the last 12 months amounting to 0.85. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 0.23. Price to Free Cash Flow for HMY in the course of the last twelve months was 129.78 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for HMY stock

Harmony Gold Mining Company Limited [HMY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.85. With this latest performance, HMY shares gained by 38.65% in over the last four-week period, additionally sinking by -3.33% over the last 6 months – not to mention a drop of -14.50% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HMY stock in for the last two-week period is set at 69.89, with the RSI for the last a single of trading hit 74.33, and the three-weeks RSI is set at 65.75 for Harmony Gold Mining Company Limited [HMY]. The present Moving Average for the last 50 days of trading for this stock 2.62, while it was recorded at 3.37 for the last single week of trading, and 3.53 for the last 200 days.

Harmony Gold Mining Company Limited [HMY]: A deeper dive into fundamental analysis

Harmony Gold Mining Company Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.50.

Harmony Gold Mining Company Limited [HMY]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HMY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Harmony Gold Mining Company Limited go to 0.00%.

An analysis of insider ownership at Harmony Gold Mining Company Limited [HMY]

There are presently around $677 million, or 31.70% of HMY stock, in the hands of institutional investors. The top three institutional holders of HMY stocks are: VAN ECK ASSOCIATES CORP with ownership of 57,636,837, which is approximately 0.954% of the company’s market cap and around 15.10% of the total institutional ownership; EXOR CAPITAL LLP, holding 26,664,903 shares of the stock with an approximate value of $92.79 million in HMY stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $89.75 million in HMY stock with ownership of nearly 69.155% of the company’s market capitalization.

66 institutional holders increased their position in Harmony Gold Mining Company Limited [NYSE:HMY] by around 30,453,846 shares. Additionally, 54 investors decreased positions by around 5,868,295 shares, while 16 investors held positions by with 158,155,818 shares. The mentioned changes placed institutional holdings at 194,477,959 shares, according to the latest SEC report filing. HMY stock had 21 new institutional investments in for a total of 1,665,526 shares, while 17 institutional investors sold positions of 1,926,006 shares during the same period.

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