Top investors say Harmony Gold Mining Company Limited (HMY) ticks everything they need

Harmony Gold Mining Company Limited (NYSE: HMY) stock fell -2.78% on Friday to $3.15 against a previous-day closing price of $3.24. With 4.2 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.42 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $3.2200 whereas the lowest price it dropped to was $3.1200. The 52-week range on HMY shows that it touched its highest point at $5.50 and its lowest point at $2.92 during that stretch. It currently has a 1-year price target of $2.76. With its current market cap of 1.89 billion, HMY has annualized dividend of $0.05 while the current yield stands at 1.46%. Beta for the stock currently stands at 1.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HMY was down-trending over the past week, with a drop of -1.56%, but this was down by -0.94% over a month. Three-month performance dropped to -24.64% while six-month performance fell -13.46%. The stock lost -25.18% in the past year, while it has lost -23.36% so far this year. EPS is expected to decline by 0.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 31.20%.

Float and Shares Shorts:

At present, 610.00 million HMY shares are outstanding with a float of 433.40 million shares on hand for trading. On Jul 14, 2022, short shares totaled 15.0 million, which was 2.43% higher than short shares on Jun 14, 2022. In addition to Mr. Peter William Steenkamp as the firm’s CEO & Exec. Director, Ms. Boipelo Pride Lekubo BComm, BComm (UCT), CA(SA) serves as its Financial Director & Exec. Director.

Institutional Ownership:

Through their ownership of 30.49% of HMY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.63% of HMY, in contrast to 19.59% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in HMY with 8.94% of the stake, Van Eck Associates Corp. holds 55,098,526 shares worth 55,098,526. A second-largest stockholder of HMY, Exor Investments, holds 25,164,903 shares, controlling over 4.08% of the firm’s shares. Baker Steel Capital Managers LLP is the third largest shareholder in HMY, holding 11,255,000 shares or 1.83% stake. With a 5.27% stake in HMY, the VanEck Gold Miners ETF is the largest stakeholder. A total of 32,496,818 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 3.18% of HMY stock, is the second-largest Mutual Fund holder. It holds 19,574,825 shares valued at 61.27 million. Bakersteel Global Funds SICAV – P holds 1.83% of the stake in HMY, owning 11,255,000 shares worth 35.23 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HMY since 7 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HMY analysts setting a high price target of $4.74 and a low target of $2.69, the average target price over the next 12 months is $3.57. Based on these targets, HMY could surge 50.48% to reach the target high and fall by -14.6% to reach the target low. Reaching the average price target will result in a growth of 13.33% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HMY will report FY 2022 earnings on 08/22/2023. Analysts have provided yearly estimates in a range of $0.33 being high and $0.19 being low. For HMY, this leads to a yearly average estimate of $0.27. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Based on analyst estimates, the high estimate for the next quarter is $0.09 and the low estimate is $0.09. The average estimate for the next quarter is thus $0.09.

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