What Will Happen to Harmony Gold Mining Company Limited (HMY) Next? The Stock Formed a Several Months Bearish Multiple Bottom

January 13, 2018 - By Clifton Ray

The stock of Harmony Gold Mining Company Limited (HMY) shows a multiple bottoms pattern with $1.72 target or 6.00 % below today’s $1.83 share price. The 7 months chart pattern indicates high risk for the $733.37 million company. It was reported on Jan, 13 by Finviz.com. If the $1.72 price target is reached, the company will be worth $44.00M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 2.81% or $0.05 during the last trading session, reaching $1.83. About 2.43 million shares traded. Harmony Gold Mining Company Limited (NYSE:HMY) has declined 31.33% since January 13, 2017 and is downtrending. It has underperformed by 48.03% the S&P500.

Harmony Gold Mining Company Limited (NYSE:HMY) Ratings Coverage

Among 7 analysts covering Harmony Gold Mining (NYSE:HMY), 0 have Buy rating, 1 Sell and 6 Hold. Therefore 0 are positive. Harmony Gold Mining had 12 analyst reports since August 20, 2015 according to SRatingsIntel. The stock has “Sell” rating by Deutsche Bank on Friday, October 13. The firm earned “Hold” rating on Thursday, November 30 by Deutsche Bank. The company was upgraded on Friday, July 1 by Macquarie Research. The rating was upgraded by Morgan Stanley on Friday, November 11 to “Equal-Weight”. The stock has “Sell” rating by Deutsche Bank on Friday, March 17. The rating was downgraded by HSBC to “Hold” on Friday, November 11. The rating was downgraded by Macquarie Research on Tuesday, March 15 to “Underperform”. JP Morgan downgraded the shares of HMY in report on Monday, September 14 to “Neutral” rating. Bank of America downgraded the stock to “Neutral” rating in Friday, October 20 report. The stock of Harmony Gold Mining Company Limited (NYSE:HMY) earned “Hold” rating by Zacks on Thursday, August 20.

More important recent Harmony Gold Mining Company Limited (NYSE:HMY) news were published by: Prnewswire.com which released: “Harmony Gold Mining Company Limited to present at the dbVIC – Deutsche Bank …” on November 14, 2017, also Quotes.Wsj.com published article titled: “Harmony Gold Mining Co. Ltd. ADR”, Seekingalpha.com published: “Reinvesting Cash Flow: Not Harmonious To Harmony Gold?” on December 22, 2017. More interesting news about Harmony Gold Mining Company Limited (NYSE:HMY) was released by: Benzinga.com and their article: “Glistening Gold: JPMorgan Upgrades Harmony Gold, Gold Fields; Downgrades DRDGOLD” with publication date: July 12, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.