NEW YORK (TheStreet) -- Harmony Gold Mining (HMY) - Get Report stock is rising by 5.78% to $3.93 in afternoon trading on Tuesday, as the Federal Reserve's cautious stance on increasing the interest rate boosts gold prices.
Harmony Gold Mining is a South Africa-based gold-mining and exploration company.
Gold for June delivery is rising by 1.33% to $1,238.20 per ounce on the COMEX this afternoon, following bearish comments by Federal Reserve Chairwoman Janet Yellen.
Yellen indicated that the central bank will remain tentative regarding an interest rate hike given the uncertain economic outlook.
Gold prices often fall when interest rates are raised, since the precious metal doesn't pay any interest to its holders.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
Harmony Gold Mining's weaknesses include its disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: HMY
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 article's author.