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Is Harmony Gold Mining Company Limited’s (NYSE: HMY) Stock Due For A Strong Run?

In the latest trading session, 2.41 million Harmony Gold Mining Company Limited (NYSE:HMY) shares changed hands as the company’s beta touched 1.35. With the company’s most recent per share price at $3.62 changing hands around $0.04 or 1.26% at last look, the market valuation stands at $2.09B. HMY’s current price is a discount, trading about -49.17% off its 52-week high of $5.40. The share price had its 52-week low at $1.93, which suggests the last value was 46.69% up since then. When we look at Harmony Gold Mining Company Limited’s average trading volume, we note the 10-day average is 4.41 million shares, with the 3-month average coming to 3.74 million.

Analysts gave the Harmony Gold Mining Company Limited (HMY) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 3.50. If we narrow down to specifics, the data shows that 3 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended HMY as a Hold, 1 felt it is a Buy and 2 rated the stock as Underweight. Harmony Gold Mining Company Limited’s EPS for the current quarter is expected to be $0.

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Harmony Gold Mining Company Limited (NYSE:HMY) trade information

Instantly HMY is in green as seen in intraday trades today. With action 22.05%, the performance over the past five days has been green. The jump to weekly highs of 3.73 on Tuesday, 03/14/23 added 1.26% to the stock’s daily price. The company’s shares are showing year-to-date upside of 6.62%, with the 5-day performance at 22.05% in the green. However, in the 30-day time frame, Harmony Gold Mining Company Limited (NYSE:HMY) is 10.18% up. Looking at the short shares, we see there were 8.67 million shares sold at short interest cover period of 2.49 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.28, meaning bulls need a downside of -10.37% from its recent market value. According to analyst projections, HMY’s forecast low is $2.26 with $4.13 as the target high. To hit the forecast high, the stock’s price needs a -14.09% plunge from its current level, while the stock would need to tank 37.57% for it to hit the projected low.

Harmony Gold Mining Company Limited (HMY) estimates and forecasts

Data shows that the Harmony Gold Mining Company Limited share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 65.53% over the past 6 months, a 15.15% in annual growth rate that is considerably higher than the industry average of 13.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -33.10%. The 2023 estimates are for Harmony Gold Mining Company Limited earnings to decrease by -120.80%, but the outlook for the next 5-year period is at 0.00% per year.

HMY Dividends

Harmony Gold Mining Company Limited is expected to release its next quarterly earnings report in April. The 1.12% annual yield figure for the share gives it an annual dividend of 0.04. It is important to note, however, that the 1.12% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Harmony Gold Mining Company Limited (NYSE:HMY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of Harmony Gold Mining Company Limited shares while 35.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 35.36%. There are 35.36% institutions holding the Harmony Gold Mining Company Limited stock share, with Van Eck Associates Corporation the top institutional holder. As of Dec 30, 2022, the company held 9.46% of the shares, roughly 58.46 million HMY shares worth $198.76 million.

Exor Capital LLP holds the second largest percentage of outstanding shares, with 4.31% or 26.66 million shares worth $64.8 million as of Sep 29, 2022.

Among Mutual Funds, the top two as of Dec 30, 2022 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 32.03 million shares estimated at $108.92 million under it, the former controlled 5.18% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.44% of the shares, roughly 21.29 million shares worth around $72.37 million.

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