We recently published a list of 10 Firms Defy Market Slump, Record Double-Digit Gains Last Week. In this article, we are going to take a look at where Harmony Gold Mining Company Ltd. (NYSE:HMY) stands against other firms that defied the market slump and recorded double-digit gains last week.
The stock market may have taken a beating for most of the week, but it was able to recover losses on Friday, as investors gobbled up shares while weighing the impact of the US-China trade war.
Among all major indices, the tech-heavy Nasdaq registered the highest gain, up 7.29 percent, followed by the S&P 500 with 5.7 percent, and the Dow Jones by 4.95 percent.
Ten companies, predominantly in the gold and biopharmaceutical sectors, were the week’s top performers as investors sought haven from their stocks amid market uncertainties.
In this article, we have identified last week’s 10 highest gainers and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume.
The week-on-week prices were based on the companies’ closing prices on Friday as against on April 4, or a week earlier.
An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.
Shares of Harmony Gold increased by 32 percent week-on-week to end Friday’s trading at $17.16 each versus the $13 finish on April 4.
Based on its historical data, HMY’s performance last week defied a generally pessimistic market, having posted gains in all five trading days.
As of Friday, spot prices of gold were up by 1.93 percent at $3,237.61 per ounce, a new all-time high and its second record high during the week, as investor funds flocked to safer assets such as gold amid the ongoing trade tensions globally.
In recent news, Bank of America raised its average gold price targets for this year and the next to $3,063 per ounce this year and $3,350 per ounce in 2026.
The new figures were markedly up from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.
The upgraded outlook spilled over into gold mining firms such as HMY.
Earlier this year, the company that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.
Overall, HMY ranks 4th on our list of firms that defied the market slump and recorded double-digit gains last week. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is as promising as HMY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
