Harmony Gold Mining (HMY) Stock Advanced Today on Higher Gold Prices

NEW YORK (TheStreet) -- Shares of Harmony Gold Mining  (HMY)  declined 4.87% to $4.30 in Tuesday's trading session as lower gold prices weighed on the South African gold miner.

Gold for August delivery fell 1.69% to $1,333.70 per ounce on the COMEX.

The precious metal was negatively impacted as safe-haven demand waned on greater economic clarity following Brexit and hopes for more economic stimulus.

"Tensions in Britain are easing for now, as the country will soon have a new prime minister," ActivTrades chief analyst Carlo Alberto de Casa told Reuters. "With the British pound gaining some ground, demand for gold and other safe havens is decreasing."

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. 

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