The stock of Harmony Gold Mining Company Limited (NYSE:HMY) is now priced at $6.48 and the shares are 0 points down or 0% lower compared to its previous closing price of $6.48. The stock had 9.985 million contracts set over the past session. HMY shares’ daily volume is compared to its average trading volume at 8.878 million shares. However, it has a float of 494 million and although its performance was 9.46% over the week, it’s one to watch. Analysts have given the HMY stock a yearly average price target of $5.81 per share. It means the stock’s downside potential is -10.34% with the HMY share price recently placing at $6.45 to $6.71. However, some brokerage firms have priced the stock below the average, including one that has called $3.54.
The shorts are running away from the Harmony Gold Mining Company Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the HMY shares have declined. Short interest in the stock represents just 1.75% of its float, but the volume has dropped by 0.
In the last trading session, Harmony Gold Mining Company Limited (NYSE:HMY) raised by $0.56 over the week and gained $0.13 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.61. The stock recorded its established 52-week high on 07/27/20.
Since 03/19/20, the stock has traded to a low of $1.76 at 268.18%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.5. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Harmony Gold Mining Company Limited’s two-week RSI is 59.08. This suggests that the stock is neutral at the moment and that HMY shares’ price movement remains stable. The stochastic readings are equally revealing at 61.49% meaning the HMY share price is currently in neutral territory.
The technical chart shows that the HMY stock will likely settle at between $6.64 and $6.81 per share. However, if the stock dips below $6.38, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.29.
Currently, the stock is trading in the green of MACD, with a reading of 0.24. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JP Morgan raised their recommendation for HMY from Underweight to Overweight in February 21 review. Macquarie analysts downgraded their recommendation of the stock from Neutral to Underperform in a flash note released to investors on August 28. BofA/Merrill seeing the stock struggling downgraded it from Buy to Neutral on October 20.
The average rating for the HMY equity is 4 and is currently gathering a bearish momentum. Of 1 analysts tracking Harmony Gold Mining Company Limited polled by Reuters, 0 rated HMY as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the HMY stock price is 4.87X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 23.7. Harmony Gold Mining Company Limited has its P/E ratio at 2.3, which means that the stock is currently trading at a discount relative to the 2.8 industry average.