Van Eck Associates Corp. recently announced the acquisition of new stake in Harmony Gold Mining Co Ltd ADR (NYSE:HMY). The institutional investor has increased its shareholding in the Basic Materials company by 0.57% to 53.55 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 8.64% valued currently at $240.46 million. In addition, Lingotto Investment Management LL raised its holdings by 2.23 million to 27.02 million shares. And Kopernik Global Investors LLC has lifted its position by 17.15% or 2.67 million shares – to 18.27 million shares.
With over 8.58 million Harmony Gold Mining Co Ltd ADR (HMY) shares trading Tuesday and a closing price of $5.57 on the day, the dollar volume was approximately $47.77 million. The shares have shown a positive half year performance of 24.33% and its price on 12/12/23 lost nearly -8.69%. Currently, there are 619.88M common shares owned by the public and among those 619.78M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for HMY have a consensus price objective of $4.16. The analysts have set the share’s price value over the next 12 months at a high of $5.23 and a low of $3.14. The average price target is -33.89% below its recent price level and a downside to the estimated low will see the stock lose -77.39% over that period. But a downside of -6.5% will see the stock hit the forecast high price target while median target price for the stock is $3.95.
The top 3 mutual fund holders in Harmony Gold Mining Co Ltd ADR are VanEck Gold Miners ETF, VanEck Junior Gold Miners ETF, and Kopernik Global All Cap Fund. VanEck Gold Miners ETF owns 33.4 million shares of the company’s stock, all valued at over $149.98 million. The company bought an additional 0.14 million shares recently to bring their total holdings to about 5.39% of the shares outstanding. VanEck Junior Gold Miners ETF bought 21963.0 shares to see its total holdings expand to 16.52 million shares valued at over $74.2 million and representing 2.67% of the shares outstanding. Kopernik Global All Cap Fund bought 0.27 million shares to bring its total holdings to over 8.49 million shares at a value of $38.12 million. Kopernik Global All Cap Fund now owns shares totaling to 1.37% of the shares outstanding.
Shares of Harmony Gold Mining Co Ltd ADR (NYSE: HMY) opened at $5.63, down -$0.47 from a prior closing price of $6.10. However, the script later moved the day high at 5.68, down -8.69%. The company’s stock has a 5-day price change of -6.70% and 31.06% over the past three months. HMY shares are trading 63.82% year to date (YTD), with the 12-month market performance up to 61.45% higher. It has a 12-month low price of $2.92 and touched a high of $6.34 over the same period. HMY has an average intraday trading volume of 4.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.98%, 10.71%, and 25.80% respectively.
Institutional ownership of Harmony Gold Mining Co Ltd ADR (NYSE: HMY) shares accounts for 29.39% of the company’s 619.88M shares outstanding. Mutual fund holders own 11.85%, while other institutional holders and individual stakeholders account for 17.55% and — respectively.
It has a market capitalization of $3.45B and a beta (3y monthly) value of 1.70. The stock’s trailing 12-month PE ratio is 12.82, while the earnings-per-share (ttm) stands at $0.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.61% over the week and 3.36% over the month.
Analysts forecast that Harmony Gold Mining Co Ltd ADR (HMY) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 1970. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 63.33%, and 21.28% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Harmony Gold Mining Co Ltd ADR (HMY) as a “Hold” at a consensus score of 3.88. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 4 rated it as a “Sell.”
