Harmony Gold Mining Company Limited (HMY) Receives ‘Analyst’ Rating

Harmony Gold Mining Company Limited (HMY) : 1 analysts are covering Harmony Gold Mining Company Limited (HMY) and their average rating on the stock is 3, which is read as a Hold. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, Equity Analysts at the Brokerage Firm, JP Morgan, upgrades their rating on the shares of Harmony Gold Mining Company Limited (NYSE:HMY). JP Morgan has a Overweight rating on the shares. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on July 12, 2016.

Harmony Gold Mining Company Limited (NYSE:HMY): The stock opened in the green at $3.52 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $3.59 and a low of $3.41 for the day. The stock did not find buyers even at the lows and closed at $3.48 recording a loss of -1.69%. 4,115,209 shares exchanged hands during the trading day. The stock had closed at $3.54 in the previous days trading.

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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