Shares of Harmony Gold Mining Co. (ADR) (NYSE:HMY) are trading up big today, with one key reason being the increase in the value of gold. Gold, which is up 1.14% to $1090.80 today, is causing many gold mining stocks to follow suit. This combined with several technical factors have pushed Harmony Gold Mining Co. (ADR) (NYSE:HMY) up past the $1.30 per share mark. With gold close to its 30-day high, it should be interesting to continue following this stock especially if gold goes even higher.
With a “buy” rating from Zack’s Investment, shares of Harmony Gold Mining Co. (ADR) (NYSE:HMY) could continue to soar.
The stock is up 13.04% or $0.15 following the news, hitting $1.3 per share. About 2.72 million shares traded hands or up 24.77% from the average. HMY has declined 22.30% since June 2, 2015 and is currently downtrending. It has underperformed the S&P500 by 17.61%.
Harmony Gold Mining Company Limited is a gold-mining and exploration company. The company has a market cap of $518.35 million. The Firm has activities in South Africa and Papua New Guinea. It currently has negative earnings. In South Africa, the Company’s activities are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt.