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Why Harmony Gold Stock Slumped This Week

Neha Chamaria, The Motley Fool
·2-min read
Why Harmony Gold Stock Slumped This Week

Harmony Gold Mining (NYSE: HMY) stock plunged 9.6% at its lowest point this week, according to data provided by S&P Global Market Intelligence, before regaining some ground the last day. As of 2 p.m. ET Friday, the gold stock was trading nearly 5% lower for the week. At midweek, UBS analyst Steve Friedman downgraded Harmony Gold stock's rating to neutral and slashed its price target to 47 South African rand per share from 61 ZAR a share, according to TheFly.com.

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