NEW YORK (TheStreet) -- Shares of Harmony Gold Mining Co. (HMY) are higher by 5.14% to $1.84 on heavy volume in mid-afternoon trading on Tuesday, as gold mining stocks spike due to a rise in gold prices.
The precious metal hit a two-week high today as Russia said it added more bullion to its reserves and the dollar fell, Bloomberg reports.
So far today, 5.94 million shares of Harmony Gold Mining have exchanged hands, as compared to its average daily volume of 2.49 million shares.
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Gold for December delivery gained by $13.60, or 1.2%, settling at $1,197.10 per ounce, MarketWatch reports.
Other gold mining stocks on the rise today include Yamana Gold Inc. (AUY) , higher by 6.05% to $4.21, Barrick Gold Corp. (ABX) , up by 5.69% to $13.18, and Goldcorp Inc. (GG) , gaining by 2.68% to $21.07 this afternoon.
Separately, TheStreet Ratings team rates HARMONY GOLD MINING CO LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate HARMONY GOLD MINING CO LTD (HMY) a SELL. This is driven by multiple weaknesses, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and poor profit margins."