Is Harmony Gold (HMY) Close Shortened Trading Week Higher?

We recently published a list of 10 Firms Close Shortened Trading Week Higher. In this article, we are going to take a look at where Harmony Gold Mining Company Limited (NYSE:HMY) stands against other firms close shortened trading week higher.

Wall Street’s main indices ended the shortened trading week in the red territory on Friday after labor market data came in much hotter than expected, fueling concerns that the Federal Reserve will not cut rates again.

Both the Dow Jones and the Nasdaq Composite dived by 1.63 percent, while the S&P 500 declined by 1.54 percent.

Meanwhile, 10 companies in the mixed sector posted notable gains amid fresh catalysts that perked up buying appetite. In this article, let’s explore the reasons behind their rally.

In Friday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Limited (NYSE:HMY)

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) rallied for a third day on Friday, jumping 5.81 percent to finish at $9.11 apiece. The rally came after the uranium-producing company benefited from the broader bullish trend in the nuclear energy sector, which continues to be driven by the growing demand fueled by advancements in Artificial Intelligence.

According to research from Goldman Sachs, data center energy consumption is expected to surge by 160 percent by 2030. Nuclear power, with its ability to deliver consistent and low-carbon electricity, is emerging as the preferred solution to meet these energy demands. Technology giants have publicly recognized the role of nuclear energy in supporting their operational energy needs.

In November 2024, the Biden administration unveiled a plan to triple US nuclear energy capacity by 2050. The plan included the deployment of 200 GW of new nuclear capacity through new reactor construction, plant restarts, and facility upgrades. In the short term, the administration aims to bring 35 GW of new capacity online by 2035.

Overall, HMY ranks 7th on our list of firms close shortened trading week higher. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that 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 more promising than HMY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.