Morgan Stanley Upgrades Harmony Gold (HMY) to Overweight

Morgan Stanley has upgraded Harmony Gold Mining Company Limited (NYSE:HMY) to Overweight from Equal Weight, raising its price target due to a higher gold price forecast and the company’s relative underperformance providing a valuation buffer. Harmony Gold reported a 20% year-over-year revenue increase and revised its dividend policy to return up to 50% of net free cash to investors. The company is involved in mineral exploration and processing across several regions.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin