Gold Prices Surge, Boosting Mining Stocks Including Harmony Gold
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20 Jan 26
Source: Yahoo Finance
Harmony Gold Mining Company Ltd's stock rose by 5.00% as it crossed above the 5-day SMA, reflecting positive momentum in the precious metals sector.
The surge in gold prices, which surpassed $4,700 per ounce for the first time, is attributed to strong investor demand amid a weaker dollar and escalating trade tensions. This has led to significant gains in mining stocks, including Harmony Gold, as investors shift their preference towards precious metals as a safe haven.
The implications of this price movement suggest a growing confidence in the mining sector, driven by favorable market conditions for gold and silver, which may attract further investment inflows.
Analyst Views on HMY
Wall Street analysts forecast HMY stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HMY is 20.50 USD with a low forecast of 20.50 USD and a high forecast of 20.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 23.570
Low
20.50
Averages
20.50
High
20.50
Current: 23.570
Low
20.50
Averages
20.50
High
20.50
About HMY
Harmony Gold Mining Company Limited is a mining company. It acquires, explores, develops, and operates gold and uranium properties, through its underground and open-pit mines in South Africa, and its Hidden Valley open-pit mine in Papua New Guinea. Its main products are gold bullion and uranium concentrate, extracted from deep-level and surface mining operations. Its segments include South Africa Underground, Surface, and International. In South Africa, its underground operations are located within the Witwatersrand Basin, which includes one in the Klerksdorp goldfield, three in the West Rand, and five in the Free State, in the southern portion of the Witwatersrand Basin. It also has an open pit mine, Kalgold, on the Kraaipan Greenstone Belt as well as several surface treatment operations. In Papua New Guinea, it operates the Hidden Valley mine and Wafi-Golpu project. In Australia, the Company owns the Eva Copper Mine Project. It also owns CSA Copper Mine in New South Wales, Australia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
