Harmony Gold Mining Company Limited (HMY) : Analyst Rating Update

Harmony Gold Mining Company Limited (HMY) has an average broker rating of 3, which is interpreted as a Hold, as rated by 2 equity analysts. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 4, which is also a Sell.

Harmony Gold Mining Company Limited (HMY) : Average target price received by Harmony Gold Mining Company Limited (HMY) is $2.65 with an expected standard deviation of $2.16. The most aggressive target on the stock is $4, whereas the most downbeat target is $1. 2 financial analysts are currently covering the stock.

Harmony Gold Mining Company Limited (NYSE:HMY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.31 and $4.24 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.32, notching a gain of 5.37% for the day. The total traded volume was 7,600,952 . The stock had closed at $4.10 on the previous day.

Also, In a research note released to the investors, Macquarie upgrades its rating on Harmony Gold Mining Company Limited (NYSE:HMY).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on July 1, 2016. The company shares have rallied 228.00% from its 1 Year high price. On Mar 17, 2016, the shares registered one year high at $4.19 and the one year low was seen on Nov 20, 2015. The 50-Day Moving Average price is $3.43 and the 200 Day Moving Average price is recorded at $2.94.

Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Companys operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations. The Companys operations in Papua New Guinea form part of a 50% joint venture with Newcrest Mining Limited. These operations include the Hidden Valley open-pit gold and silver mine, the Wafi-Golpu project and exploration tenements. In addition to its joint venture work, Harmony also has a 100%-owned exploration portfolio that focuses on prospective areas in Papua New Guinea. The Golpu project is a differentiating feature for Harmony and is one of the gold copper porphyries in South East Asia with an expected life-span of approximately 40 years. It has a diameter of approximately 600 meters and a proven depth of approximately 1,700 meters.

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