Harmony Gold Mining Company Limited (NYSE: HMY) stock jumped 0.46% on Monday to $4.33 against a previous-day closing price of $4.31. With 2.99 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.08 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $4.3750 whereas the lowest price it dropped to was $4.3000. The 52-week range on HMY shows that it touched its highest point at $5.43 and its lowest point at $1.93 during that stretch. It currently has a 1-year price target of $4.59. With its current market cap of 2.65 billion, HMY has annualized dividend of $0.05 while the current yield stands at 1.22%. Beta for the stock currently stands at 1.33.
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 up-trending over the past week, with a rise of 3.34%, but this was up by 22.32% over a month. Three-month performance dropped to -3.99% while six-month performance rose 14.85%. The stock gained 106.19% in the past year, while it has gained 27.35% so far this year.
Float and Shares Shorts:
At present, 617.00 million HMY shares are outstanding with a float of 432.97 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.11 million, which was 0.83% higher than short shares on Jul 30, 2023. 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.
Through their ownership of 32.77% of HMY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 16.40% of HMY, in contrast to 14.49% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in HMY with 8.62% of the stake, Van Eck Associates Corp. holds 53,252,997 shares worth 53,252,997. A second-largest stockholder of HMY, Lingotto Investment Management LL, holds 24,792,004 shares, controlling over 4.01% of the firm’s shares. Kopernik Global Investors LLC is the third largest shareholder in HMY, holding 15,591,439 shares or 2.52% stake. With a 5.34% stake in HMY, the VanEck Gold Miners ETF is the largest stakeholder. A total of 33,016,160 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 2.71% of HMY stock, is the second-largest Mutual Fund holder. It holds 16,761,143 shares valued at 69.06 million. Bakersteel Global Funds SICAV – P holds 1.55% of the stake in HMY, owning 9,598,800 shares worth 39.55 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HMY since 0 analysts follow the stock currently. 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 $5.44 and a low target of $3.59, the average target price over the next 12 months is $4.20. Based on these targets, HMY could surge 25.64% to reach the target high and fall by -17.09% to reach the target low. Reaching the average price target will result in a decline of -3.0% 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.