10 Firms End Friday Strong; 3 Reach All-Time Highs

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1. Harmony Gold Mining Company Limited (NYSE:HMY)

Harmony Gold surged by 9.5 percent on Friday to finish at $14.06 apiece as investors snapped up shares in the company following higher gold spot prices and outlook from an investment firm.

As of Friday, 6:24 PM EDT, spot prices of gold were up by 0.91 percent to a new all-time high of $3,085.12 per ounce, marking its 18th record high this year, as investors continued to flock to safer assets amid the ongoing trade tensions globally.

The higher prices pushed Bank of America to raise its average gold price targets for this year and the next. In its market note on Wednesday, the investment firm raised its gold price forecast to $3,063 per ounce this year and to $3,350 per ounce next year. The new figures marked a significant increase from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.

While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as HMY but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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