For April delivery, gold is inching lower by 0.06% to $1,238.40 per ounce on the COMEX this afternoon.
"It's been able to absorb some selling as some risk seems to have gone out of the market a little bit," James Steel, chief precious metals analyst at HSBC Securities, told the Wall Street Journal. "We do see stable buying on drops,."
Gold has climbed by about 16% since the beginning of the year as unstable global markets have pushed investors toward a haven, the Journal reports.
The metal is often seen as a safe-haven asset because it tends to maintain its value better than stocks and bonds during times of financial volatility.
Harmony Gold is a South Africa-based gold mining and exploration company with operations in South Africa and Papua New Guinea.
About 5.33 million of the company's shares were traded by this afternoon versus its average volume of 3.93 million shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
This is driven by several weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HMY