5 Best African Stocks to Buy Now

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In this article, we will discuss the 5 best African stocks to buy now. If you want to see more stocks in this selection, go directly to the 10 Best African Stocks to Buy Now.

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

Number of Hedge Fund Holders: 11

Harmony Gold Mining Company Limited (NYSE:HMY) is a Randfontein, South Africa-based corporation that has the distinction of being the biggest gold mining company in South Africa. The company also has operations in Papua New Guinea.

Harmony Gold Mining Company Limited (NYSE:HMY), founded over seven decades ago, is considered a solid long-term investment for investors interested in gaining exposure to the African gold mining industry. During Q3 2022, the company’s Tshepong North and Tshepong South gold mines reported stellar results. The mines generated 37% of operating free cash flow for Harmony Gold Mining Company Limited (NYSE:HMY) due to better grade production. Furthermore, Harmony Gold Mining Company Limited’s (NYSE:HMY) South African business segment countered the impact of lower production from the international segment.

AQR Capital Management increased its stake in Harmony Gold Mining Company Limited (NYSE:HMY) by 902% during the third quarter of the year.

Follow Harmony Gold Mining Co Ltd (NYSE:HMY)

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