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Harmony Gold Mining Company Limited (NYSE:HMY) is one of the top cheap stocks to buy with the biggest upside potential. Harmony Gold Mining Company Limited (NYSE:HMY) announced on April 29 that the MSCI upgraded the company’s environmental, social, and governance (ESG) rating from ‘BB’ to ‘A’ after its most recent assessment in March 2026. Management stated that the improvement points towards the company’s bolstered performance across key ESG pillars, and is supported by measurable progress in toxic emissions and waste reduction, water management, and enhanced governance practices.

Harmony Gold Mining Company Limited (NYSE:HMY) further reported that its environmental pillar score improved from 3.0 to 5.1, while its social score improved from 2.4 to 4.7, which shows concrete progress in community relations, operational efficiency, and employee engagement. In addition, governance remains a “core strength”, according to the company, with a consistently high score of 7.4.

In a separate development, Harmony Gold Mining Company Limited (NYSE:HMY) was upgraded to Overweight from Equal Weight by Morgan Stanley on April 16, with the firm lifting the price target on the stock to ZAR 34,000 from ZAR 30,000.

Harmony Gold Mining Company Limited (NYSE:HMY) is a gold mining and exploration company with a copper footprint that includes an open-pit mining operation, nine deep-level mines, and a number of surface retreatment facilities. Its operations are divided into the following segments: Tshepong North, Tshepong South, Moab Khotsong, Joel, Doornkop, Target 1, Kusasalethu, Masimong, Mponeng, Mine Waste Solutions, and Hidden Valley.

While we acknowledge the potential of HMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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