Harmony Gold Mining Company Limited (NYSE:HMY) is -0.09 points lower today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has plummeted by nearly -2.85% to $3.07 from its previous close of $3.16. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1412611 contracts so far this session. HMY shares had a relatively better volume day versus average trading capacity of 10.59 million shares, but with a 0.43 billion float and a 4.29% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HMY stock indicates that the average analyst price target is $3.7 per share. This means the stock has a potential increase of 20.52% from where the HMY share price has been trading recently which is between $3.14 and $3.24. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.28. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $5.25.
During the recent trading session for Harmony Gold Mining Company Limited (NYSE:HMY), the company witnessed their stock rise $0.11 over a week and tumble down $-0.1 from the price 20 days ago. When compared to their established 52-week high of $3.86, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/27/19. The recent low of $1.47 stood for a -20.36% since 03/12/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -1.54 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for HMY is set at $4.21, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Harmony Gold Mining Company Limited, the two-week RSI stands at 49.49. This figure suggests that HMY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current HMY readings is similarly very revealing as it has a stochastic reading of 53.23% at this stage. This figure means that HMY share price today is being neutral.
Technical chart claims that Harmony Gold Mining Company Limited (HMY) would settle between $3.22/share to $3.28/share level. However, if the stock price goes below the $3.12 mark, then the market for Harmony Gold Mining Company Limited becomes much weaker. If that happens, the stock price might even plunge as low as $3.08 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan raised their recommendation on shares of HMY from Underweight to Overweight in their opinion released on February 21. Macquarie analysts have lowered their rating of Harmony Gold Mining Company Limited (NYSE:HMY) stock from Neutral to Underperform in a separate flash note issued to investors on August 28. Analysts at BofA/Merrill lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to October 20.
HMY equity has an average rating of 2.6, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Harmony Gold Mining Company Limited (NYSE:HMY) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.