Harmony Gold Mining Company Limited [HMY] gain 11.18% so far this year. What now?

Harmony Gold Mining Company Limited [NYSE: HMY] traded at a high on 01/19/23, posting a 1.61 gain after which it closed the day’ session at $3.78. The company report on December 15, 2022 that Copper Mountain Mining Receives FIRB Approval and Anticipates Imminent Completion of the Sale of the Eva Copper Project and the Australian Exploration Tenements.


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Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper Mountain”) is pleased to announce that the Foreign Investment Review Board (“FIRB”) in Australia granted approval on December 13, 2022 (the “FIRB Approval”) for the previously announced sale of Copper Mountain’s wholly-owned Eva Copper Project and its 2,100km2 exploration land package in Queensland, Australia (the “Transaction”) to Harmony Gold Mining Company Limited (JSE: HAR) (NYSE: HMY) (“Harmony”). See Copper Mountain’s press release dated October 6, 2022 (“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”) for additional details regarding the Transaction.

The FIRB Approval was the final key condition to the closing of the Transaction. The Company expects the Transaction to be completed imminently upon the Company receiving the cash consideration for the Transaction from Harmony.

The results of the trading session contributed to over 3457300 shares changing hands. Over the past one week, the price volatility of Harmony Gold Mining Company Limited stands at 4.06% while the volatility over the past one month is 3.92%.

The market cap for HMY stock reached $2.33 billion, with 612.46 million shares outstanding and 434.47 million shares in the current float. Compared to the average trading volume of 4.55M shares, HMY reached a trading volume of 3457300 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $2.26 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 0.92. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 0.24. Price to Free Cash Flow for HMY in the course of the last twelve months was 138.75 with Quick ratio for the last quarter at 0.90.

How has HMY stock performed recently?

Harmony Gold Mining Company Limited [HMY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.26. With this latest performance, HMY shares gained by 17.76% in over the last four-week period, additionally plugging by 26.42% over the last 6 months – not to mention a rise of 4.71% 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 55.57, with the RSI for the last a single of trading hit 52.39, and the three-weeks RSI is set at 56.77 for Harmony Gold Mining Company Limited [HMY]. The present Moving Average for the last 50 days of trading for this stock 3.52, while it was recorded at 3.88 for the last single week of trading, and 3.32 for the last 200 days.

Harmony Gold Mining Company Limited [HMY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Harmony Gold Mining Company Limited [HMY] shares currently have an operating margin of +19.23 and a Gross Margin at +11.05. Harmony Gold Mining Company Limited’s Net Margin is presently recorded at -2.50.

Return on Total Capital for HMY is now 23.79, given the latest momentum, and Return on Invested Capital for the company is -3.12. Return on Equity for this stock declined to -3.44, with Return on Assets sitting at -2.20. When it comes to the capital structure of this company, Harmony Gold Mining Company Limited [HMY] has a Total Debt to Total Equity ratio set at 10.67. Additionally, HMY Total Debt to Total Capital is recorded at 9.64, with Total Debt to Total Assets ending up at 6.85. Long-Term Debt to Equity for the company is recorded at 10.59, with the Long-Term Debt to Total Capital now at 9.57.

Receivables Turnover for the company is 26.32 with a Total Asset Turnover recorded at a value of 0.88.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.

Earnings analysis for Harmony Gold Mining Company Limited [HMY]

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%.

Insider trade positions for Harmony Gold Mining Company Limited [HMY]

There are presently around $738 million, or 36.00% 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 $100.79 million in HMY stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $97.49 million in HMY stock with ownership of nearly 69.155% of the company’s market capitalization.

Positions in Harmony Gold Mining Company Limited stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 65 institutional holders increased their position in Harmony Gold Mining Company Limited [NYSE:HMY] by around 31,018,706 shares. Additionally, 50 investors decreased positions by around 4,332,954 shares, while 16 investors held positions by with 159,878,959 shares. The mentioned changes placed institutional holdings at 195,230,619 shares, according to the latest SEC report filing. HMY stock had 20 new institutional investments in for a total of 1,556,640 shares, while 13 institutional investors sold positions of 348,358 shares during the same period.

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