10 Firms Defy Market Slump, Record Double-Digit Gains Last Week

4. Harmony Gold Mining Company Ltd. (NYSE:HMY)

Shares of Harmony Gold increased by 32 percent week-on-week to end Friday’s trading at $17.16 each versus the $13 finish on April 4.

Based on its historical data, HMY’s performance last week defied a generally pessimistic market, having posted gains in all five trading days.

As of Friday, spot prices of gold were up by 1.93 percent at $3,237.61 per ounce, a new all-time high and its second record high during the week, as investor funds flocked to safer assets such as gold amid the ongoing trade tensions globally.

In recent news, Bank of America raised its average gold price targets for this year and the next to $3,063 per ounce this year and $3,350 per ounce in 2026.

The new figures were markedly up from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.

The upgraded outlook spilled over into gold mining firms such as HMY.

Earlier this year, the company that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.