Harmony Gold Mining Company (HMY) Gets Initiated With a Market Perform Rating at BMO Capital

Harmony Gold Mining Company Limited (NYSE:HMY) is one of the most profitable gold stocks to buy right now. On July 17, BMO Capital analyst Raj Ray initiated coverage of Harmony Gold Mining Company Limited (NYSE:HMY) with a Market Perform rating and a $16 price target.

The analyst told investors in a research note that Harmony Gold Mining Company Limited (NYSE:HMY) is a South African senior gold producer experiencing geographical diversification and increasing copper exposure.

While the firm stated that it likes Harmony Gold Mining Company Limited’s (NYSE:HMY) operational setup, it also believes that the stock’s valuation is now broadly in line with the peer average.

Harmony Gold Mining Company Limited (NYSE:HMY) mines and explores gold and is involved in sales and financial management, building mines, open-pit operations, land rehabilitation, and mine closure.

The company’s operations are divided into the following segments: Tshepong Operations, Moab Khotsong, Bambanani, Joel, Doornkop, Target 1, Kusasalethu, Masimong, Unisel, Mponeng, Mine Waste Solutions, and Hidden Valley.

While we acknowledge the potential of HMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.