Harmony Gold shares are trading lower amid a decline in gold prices and analysts at JP Morgan lowering their price target on the stock.
Portfolio Pulse from Luke J Jacobi
Harmony Gold's shares are trading lower due to a decrease in gold prices and JP Morgan analysts lowering their price target on the stock.
October 02, 2023 | 12:53 pm
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NEGATIVE IMPACT
Harmony Gold's stock price is expected to decrease in the short term due to falling gold prices and a lower price target from JP Morgan.
Harmony Gold's stock price is directly influenced by the price of gold. As gold prices fall, the value of Harmony Gold's assets decreases, which negatively impacts its stock price. Additionally, JP Morgan's lower price target indicates a negative outlook for the stock, further driving down its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100