10 Firms Kick Off Trading Week Stronger

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

Harmony Gold extended its winning streak for a third day on Monday, adding 5.05 percent to close at $14.77 apiece as investors gobbled up shares after prices of gold hit a new record high.

On Monday, the spot prices of gold cracked past the $3,100 level for the first time as concerns about US President Donald Trump’s more aggressive tariff stance drove investor funds to safer assets such as gold and spilled over to gold mining stocks.

Optimistic outlooks for the precious metal further added to the sentiment, with Goldman Sachs expecting gold to soar to the $4,500 level over the next 12 months amid extreme market conditions.

Meanwhile, 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.

Earlier this year, HMY announced 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.