Harmony

Gold

<ul class="list-ic vertical">
 <li><span>1</span> <a>HMY stock price has experienced a sideways trend since the month of May this year.</a></li>
 <li><span>2</span> <a>This gold stock can be used as a hedge against skyrocketing inflation.</a></li>
 <li><span>3</span> <a>The company’s revenue growth has been sluggish since 2021.&nbsp;</a></li>
</ul>
<p>Many people believe that gold is a good way to save their money when prices of everyday things go up due to inflation. Investors buy gold because it will help keep the value of their money safe. When more and more people want to buy gold, its demand goes up, hence, increasing its price. With the current situation of rising inflation in the West, gold or gold stocks can be good horses to bet on.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-the-mid-cap-gold-stock-strong"><strong>The Mid-cap Gold Stock</strong></h2>
<p>Harmony Gold Mining Company Ltd. (NYSE: HMY) is a gold mining and exploration company. It involves building mines, open-pit operation, sales and financial management, land rehabilitation, and mine closure. The company is considered a mid-cap firm, with a market capitalization of approximately $2.9 Billion.</p>
<h3 class="wp-block-heading" id="strong-financial-performance-in-recent-years-strong"><strong>Financial Performance in Recent Years</strong></h3>
<p>The company’s revenue growth is seen to slow down after 2021. In 2023, the firm posted an annual growth of just 0.5% with a revenue of $2.7 Billion. The gross profit margin stood at 26% while the shareholders were left with a net margin of&nbsp; 11.21%&nbsp;</p>
<p>The return on equity was 14.6%, while the return on assets was 9.2%. The company’s short-term assets are just 26% more than the short-term liabilities, which indicates that the company may be short on cash and equivalents.&nbsp;</p>
<p>However, despite slow growth and liquidity problems, the company has been giving regular dividends since 2021. With an average dividend payout ratio of 10.6%, the yield is 1.5. This makes up a dividend per share (DPS) of $0.03.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-hmy-stock-price-strong"><strong>Technical Analysis and Prediction of the HMY Stock Price&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/cjz3YhWDc0nkxiZBTG8QslfIe1EoLy8zzPp9I4lJm9ShRN3rsR9p9mpgg1Tp9fYF2SxnFVK0O4eV4F_snhZsEqz4PTOmyiUsjHTBX52FrsFguCEI-wlhuUfDSJz9phcBkT8rcTccF2Eu6Mtm5bwCCN0" alt="HMY Stock Price: Investors Shouldn't Miss this Gold Stock">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NYSE%3AHMY" rel="noopener noreferrer nofollow"> TradingView </a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div>
<p>At the press time, HMY <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" rel="noopener noreferrer nofollow">stock price</a> is trading at the level of $4.86 after breaking its resistance of $4.64. The bulls have claimed the support level of $3.88, after which the stock rose past its resistance. The 50-day exponential moving average is $4.13, while the 150-day exponential moving average price is $4.10.&nbsp;</p>
<p>The HMY stock price prediction will be bearish as the RSI has touched its oversold level of 70 as a result of the stock rising too much and too soon. Some correction can be seen in the short term, and the support level might be near the moving averages.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Harmony Gold Mining Company Ltd. (NYSE: HMY) engages in the mining and exploration of gold. On a fundamental basis, the company has not performed well since 2021. The current stock price is above the immediate resistance but the prediction is bearish.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $3.88 and $2.98</p>
<p>Resistance Levels: $4.64 and $5.38</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

HMY Stock Price: Investors Shouldn’t Miss this Gold Stock

Table of Contents

Thecoinrepublic.com

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