Harmony Gold Mining Company Limited [HMY] is 20.59% higher this YTD. Is it still time to buy?

Harmony Gold Mining Company Limited [NYSE: HMY] gained 3.54% or 0.14 points to close at $4.10 with a heavy trading volume of 3637864 shares. 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.

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.

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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.

It opened the trading session at $4.03, the shares rose to $4.12 and dropped to $3.955, the range by which the price of stock traded the whole day. The daily chart for HMY points out that the company has recorded 103.98% gains over the past six months. However, it is still -112.44% lower than its most recent low trading price.

If we look at the average trading volume of 4.10M shares, HMY reached to a volume of 3637864 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 $2.30 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 0.18, with the Price to Sales ratio for HMY stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 0.08, with the Price to Cash per share for the same quarter was set at 0.01.

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 9.92. With this latest performance, HMY shares gained by 37.12% in over the last four-week period, additionally plugging by 103.98% over the last 6 months – not to mention a drop of -21.15% 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 66.92, with the RSI for the last a single of trading hit 70.28, and the three-weeks RSI is set at 63.74 for Harmony Gold Mining Company Limited [HMY]. The present Moving Average for the last 50 days of trading for this stock 3.47, while it was recorded at 4.01 for the last single week of trading, and 3.19 for the last 200 days.

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

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.

Reflecting on the efficiency of the workforce at the company, Harmony Gold Mining Company Limited [HMY] managed to generate an average of -$22,207 per employee. 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 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 $716 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 58,458,520, which is approximately 1.426% of the company’s market cap and around 15.10% of the total institutional ownership; EXOR CAPITAL LLP, holding 29,744,388 shares of the stock with an approximate value of $117.79 million in HMY stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $68.29 million in HMY stock with ownership of nearly -33.131% of the company’s market capitalization.

Positions in Harmony Gold Mining Company Limited stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 70 institutional holders increased their position in Harmony Gold Mining Company Limited [NYSE:HMY] by around 17,680,762 shares. Additionally, 57 investors decreased positions by around 31,073,643 shares, while 17 investors held positions by with 132,173,303 shares. The mentioned changes placed institutional holdings at 180,927,708 shares, according to the latest SEC report filing. HMY stock had 26 new institutional investments in for a total of 4,619,392 shares, while 20 institutional investors sold positions of 9,769,047 shares during the same period.

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