Price Target Update on Harmony Gold Mining Company Limited (NYSE:HMY)

Harmony Gold Mining Company Limited (NYSE:HMY) : Average target price received by Harmony Gold Mining Company Limited (NYSE:HMY) is $2.51 with an expected standard deviation of $1.96. The most aggressive target on the stock is $4, whereas the most downbeat target is $1. 2 financial analysts are currently covering the stock.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Macquarie downgrades its rating on Harmony Gold Mining Company Limited (NYSE:HMY).The analysts at the brokerage house have a current rating of Underperform on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on March 15, 2016.

Harmony Gold Mining Company Limited (NYSE:HMY): On Thursdays trading session , Opening price of the stock was $3.32 with an intraday high of $3.4. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $3.29. However, the stock managed to close at $3.34, a loss of 4.02% for the day. On the previous day, the stock had closed at $3.48. The total traded volume of the day was 4,379,856 shares.

The company shares have rallied 152.17% 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 $3.36 and the 200 Day Moving Average price is recorded at $2.74.

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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