Harmony Gold Mining Company Limited HMY

18.97 0.42 2.26% as of 25 Sep
Market cap
$11.8B
P/E
58.2×
Growth Flags show if company had growth for consecutive years

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios

Market Cap 11,820.00
Revenue 5,361.05
Net Income 1,562.39
Free Cash Flow 964.48
Net Debt 304.38
Current Ratio 0.54
Debt/Equity 0.25
P/E ratio 58.23
P/S ratio 2.19
P/B ratio 3.85
Past 5Y EPS Growth —
This Y EPS Growth 22.40%
Next Y EPS Growth 19.02%
Next 5Y EPS Growth 14.85%
in millions of $

Dividends

Payout Ratio 0.03
Annual Dividend Rate 0.05
Annual Dividend Yield 1.42%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 8.24
0.32
0.46
2025 1.16
0.12
0.09
2024 0.13
0.08
0.05
2023 0.04
0.04
2022 0.04
0.03
0.01
2021 0.10
0.08
0.02
2020 Powerpack
2017 0.07
0.04
0.03
2016 0.04
0.04
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 2026
Cash 170 283 743 562
Receivables 135 139 221 355
Inventory 184 193 211 289
Other — — — —
489 615 1,174 1,206
2023 2024 2025 2026
Payables 295 301 370 576
ST’ Debt 6 0 3 561
Other 86 92 309 250
387 394 683 1,439
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 16.61% 16.64% 28.34%
Cash Flow 20.36% 27.16% 52.50%
Earnings 38.69% 39.26% 85.58%
Book Value 8.83% 17.00% 31.39%

Revenue

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — — 5,875
’25 — — — — 4,072
’24 — — — — 3,284
’23 — 1,400 — 1,352 2,779
’22 — 1,242 — 1,367 2,806
’21 — 1,444 — 1,590 2,721
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — 809 1,990
’25 — — — 568 1,248
’24 — — — 374 837
’23 — 363 — 174 561
’22 — 198 — 231 456
’21 — 238 — 394 598
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — 339 938
’25 — — — 300 596
’24 — — — 167 388
’23 — 363 — (31) 133
’22 — 198 — 26 48
’21 — 238 — 242 264
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — — 2.74
’25 — — — — 1.26
’24 — — — — 0.73
’23 — 0.25 — 0.18 0.44
’22 — (0.25) — 0.14 (0.11)
’21 — (0.08) — 0.64 0.59
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
1.56 1.43 1.57 1.76 3.00 1.94 2.93 5.40 8.24 13.03

Analyst estimates 2027–2029

Powerpack
Low Price
2.99 2.53 3.86 7.61 5.76 5.50 6.58 12.29 22.25 26.06
High Price
30,441 34,031 32,837 33,093 38,459 37,609 34,913 43,667 34,350 —
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
1,416 1,584 1,897 1,883 2,721 2,806 2,779 3,284 4,072 5,875
Revenue
(2.26%) (13.64%) (7.27%) 11.41% 14.96% 1.68% 19.77% 23.05% 32.83% 44.92%
Gross Margin
(20) (339) (194) (38) 416 (70) 373 630 1,168 2,271
EBT
(1.41%) (21.40%) (10.20%) (2.03%) 15.29% (2.48%) 13.41% 19.18% 28.70% 38.65%
EBT Margin
(20) (339) (194) (38) 416 (70) 373 630 1,168 2,271
Net Income
185 200 286 226 253 242 195 248 267 434
Depreciation
3.23 3.55 3.62 3.48 4.46 4.58 4.50 5.30 6.55 9.41
Revenue/Sh
0.04 (0.78) (0.35) (0.11) 0.60 (0.11) 0.44 0.75 1.27 2.78
Earnings/Sh
0.64 0.68 0.63 0.56 0.98 0.74 0.91 1.35 2.01 3.19
Cash Flow/Sh
(0.64) (0.80) (0.68) (0.43) (0.55) (0.66) (0.69) (0.72) (1.05) (1.69)
Capex/Sh
(0.01) (0.12) (0.05) 0.13 0.43 0.08 0.22 0.63 0.96 1.50
Free CF/Sh
5.09 4.11 3.04 2.78 3.33 3.24 3.19 3.54 4.30 7.15
Book Value/Sh
439 446 524 542 610 612 618 619 622 624
Shares
0.00 0.00 0.00 0.00 7.21 6.61 12.89 28.15 42.88 46.69
PE Ratio
0.57 0.56 0.45 0.58 0.45 0.33 0.48 1.06 1.61 1.75
PS Ratio
0.42 0.41 0.71 1.66 1.04 1.03 1.41 2.65 3.36 3.08
PB Ratio
0.71 0.70 0.59 0.60 0.44 0.35 0.51 1.05 1.53 1.81
EV/Sales
(32.97) (32.49) 11.64 15.04 4.04 3.82 11.02 16.55 13.79 10.06
EV/FCF
280 303 330 304 598 456 561 837 1,248 1,990
Op' Cash Flow
(283) (356) (355) (232) (335) (407) (428) (449) (652) (1,052)
Capex
(3) (53) (25) 72 264 48 133 388 596 938
FCF
82 40 81 168 195 166 102 221 491 (234)
Working Cap'
177 420 431 509 219 211 321 96 108 561
Total Debt
(36) 327 336 95 (65) 14 151 (187) (635) (1)
Net Debt
2,234 1,835 1,594 1,505 2,035 1,982 1,967 2,191 2,673 4,462
Sh' Equity
0.62% (11.02%) (6.74%) (2.07%) 10.95% (2.21%) 8.62% 14.22% 21.12% 29.63%
ROA
(2.30%) (9.68%) (5.79%) (0.90%) 13.34% (1.56%) 11.81% 19.48% 34.40% 33.70%
ROIC
0.82% (15.78%) (10.72%) (3.65%) 18.74% (3.45%) 13.77% 22.10% 32.59% 48.70%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2023

Harmony Gold Mining Company Limited peers in Gold

Company Market cap P/E Compare
EQX Equinox Gold Corp. $13.7B 11.5× Compare
SSRM Silver Standard Resources Inc. $7.3B 30.8× Compare
CDE Coeur Mining, Inc. $19.5B 16.2× Compare
BTG B2Gold Corp $7.0B 9.0× Compare
Company Market cap P/E Compare
AUGO Aura Minerals Inc. $7.0B 23.3× Compare
OR OR Royalties Inc. $6.7B 23.7× Compare
RGLD Royal Gold, Inc. $21.4B 27.5× Compare
GFI Gold Fields Limited $36.2B 23.9× Compare

All 37 Gold stocks →

Harmony Gold Mining Company Limited (HMY) key facts

  • Harmony Gold Mining Company Limited (HMY) is a Gold company in the Basic Materials sector, traded in the US as an ADR.
  • Harmony Gold Mining Company Limited’s revenue for fiscal 2026 (year ended June 2026) was ZAR 5.9 billion, up 44.3% from fiscal 2025.
  • As of September 25, 2026, HMY traded at $18.97, a market capitalization of $11.8 billion.
  • Harmony Gold Mining Company Limited pays an annual dividend of $0.05 per share, a yield of 1.42%, with a payout ratio of 2.85%.
  • Return on equity was 48.7% and debt-to-equity 0.25.

Source: company filings (standardised) and stockrow calculations.

Harmony Gold Mining Company Limited (HMY) Latest News

News by impact score

Fine-tune

27 Aug

4 transcript

Harmony Gold Mining reported record revenue during its FY 2026 earnings call. Record revenue signals major positive shift in financial performance and investor outlook.

3 transcript

Harmony Gold Mining H2 earnings call highlighted financial results, production figures and operational updates for the company. H2 earnings details can moderately shift near-term market views on performance without altering long-term trajectory.

26 Jun

3

Harmony Gold Mining Company Limited stock fell almost 12% this week. Weekly stock drop may pressure near-term sentiment and valuation but does not alter long-term fundamentals.

7 May

4

MSCI upgraded Harmony Gold Mining Company Limited (HMY)'s ESG rating from BB to A. MSCI's ESG upgrade from BB to A enhances HMY's investor appeal and access to sustainable capital, significantly influencing market performance.

24 Apr

4

Morgan Stanley upgrades Harmony Gold Mining Company Limited (HMY) to Overweight rating. Morgan Stanley's upgrade to Overweight from a top investment bank signals strong bullish sentiment, likely driving significant stock price gains and improved investor confidence.

16 Apr

3

Harmony Gold Mining (JSE:HAR) presents an investment opportunity driven by strong EPS growth potential. EPS growth highlights moderately boost investor sentiment and financial performance outlook.

27 Mar

4

Harmony Gold Mining Company Limited (HMY) released its interim six months results. Interim six months results reveal key financial performance metrics that significantly influence HMY's market valuation and future outlook.

17 Mar

4

Harmony Gold Mining Co Ltd (HMY) reported strong financial results in its Half Year 2026 earnings call, highlighting robust performance amid favorable market conditions. Strong half-year financial highlights indicate significant improvements in profitability and operations, likely driving positive investor sentiment and stock trajectory.

11 Mar

4

Harmony Gold Mining Company Limited (HMY) released highlights from its H1 earnings call, covering financial performance, operational updates, and future outlook. H1 earnings call highlights detail financial results, production metrics, and guidance that significantly shape investor expectations and HMY's stock trajectory.

4

Harmony Gold Mining Company Limited (HMY) Q2 earnings call highlighted production increases, cost efficiencies, robust gold output, and optimistic outlook amid favorable market conditions. Q2 earnings highlights detail financial results and strategic updates significantly influencing HMY's operational trajectory and investor sentiment.

19 Feb

3

Harmony Gold Mining Company Ltd. (HMY) faces challenges with CSA Copper Mine. Challenges at CSA Copper Mine may affect HMY's operational costs, production output, and financial performance.

11 Feb

3

Morgan Stanley has upgraded Harmony Gold Mining Company Limited (HMY) to an 'Equal Weight' rating after a year marked by underperformance. This change reflects a reassessment of the company's potential following its recent struggles in the market. Analysts suggest that the upgrade may indicate a more favorable outlook for HMY moving forward, despite previous challenges. The upgrade to 'Equal Weight' suggests a moderate shift in market sentiment that could influence investor perception and stock performance.

23 Jan

4

Gold stocks, including Harmony Gold Mining Company Limited, have surged as the price of gold approaches the $5,000 mark. This significant increase in gold prices is driven by various economic factors, including inflation and geopolitical tensions, leading to heightened investor interest in precious metals. As a result, mining companies are experiencing a boost in their stock prices, reflecting the growing demand for gold as a safe-haven asset. Rising gold prices are likely to significantly enhance Harmony Gold's financial performance and market position.

21 Jan

3

Harmony Gold Mining Company Limited is experiencing a rally in its stock price, driven by various factors including rising gold prices and positive market sentiment. The company is benefiting from increased demand for gold as a safe-haven asset amid economic uncertainties. Analysts are optimistic about Harmony's future performance, citing its strong operational efficiency and strategic initiatives aimed at enhancing production capabilities. Investors are closely monitoring the company's developments as it navigates the current market landscape. Rising gold prices and positive market sentiment are expected to moderately influence Harmony Gold's financial performance and competitive positioning.

15 Jan

3

CGAU's shares have reached a new 52-week high, driven by factors such as rising gold prices, increased investor interest in precious metals, and positive market sentiment surrounding mining stocks. Analysts suggest that ongoing geopolitical tensions and inflation concerns are contributing to the bullish trend in the gold market, benefiting companies like Harmony Gold Mining Company Limited. The stock's performance reflects broader trends in the mining sector, with investors seeking safe-haven assets amid economic uncertainty. Rising gold prices and market sentiment may moderately influence Harmony Gold's financial performance and competitive positioning.

12 Jan

4

Harmony Gold Mining Company Limited is highlighted among four gold stocks to watch as gold prices reach record highs, projected to extend into 2026. The article emphasizes the potential for increased revenue and market interest in gold mining companies due to favorable pricing conditions. Investors are encouraged to consider these stocks as part of their portfolios in light of the ongoing bullish trend in the gold market. Record high gold prices are likely to significantly enhance Harmony Gold's revenue and market position.

2 Jan

3

Carpenter Technology Corporation is recommended for retention due to its strong financial performance, strategic initiatives, and positive market outlook. The company has shown resilience in the face of economic challenges, with robust demand for its specialty alloys and advanced materials. Recent investments in technology and capacity expansion are expected to enhance its competitive position. Analysts highlight the potential for growth in key sectors, including aerospace and medical, which could drive future revenue. Overall, Carpenter Technology is positioned well for sustained performance. The company's strategic initiatives and market demand are expected to moderately influence its financial performance.

24 Dec

4

Harmony Gold Mining Company Limited (HMY) has received a rating upgrade to 'Buy' from analysts, reflecting improved market conditions and positive financial outlook. The upgrade is attributed to the company's strong operational performance and favorable gold prices, which are expected to enhance profitability. Investors are encouraged to consider HMY as a viable investment option due to these developments. The rating upgrade indicates significant positive shifts in market sentiment and financial performance expectations for Harmony Gold.

19 Dec

4

Harmony Gold Mining Company Limited is highlighted among growth stocks as gold and silver prices are expected to rise significantly this year, positioning the company favorably in the market. The article emphasizes the potential for metals prices to drive investor interest and enhance the performance of mining stocks, including Harmony Gold. Rising gold and silver prices are likely to significantly impact Harmony Gold's financial performance and market positioning.

16 Dec

3

Harmony Gold Mining Company Limited is highlighted as one of the leading gold stocks that are approaching buy zones, alongside a prominent European bank. The article emphasizes the potential for investment in these stocks due to favorable market conditions and their positioning within the industry. The mention of Harmony Gold in a favorable investment context suggests a moderate influence on market sentiment and potential financial performance.

9 Dec

3

Agnico Eagle Mines has partnered with Nukik to advance the KHFL Project, which aims to enhance gold production and exploration in the region. This collaboration is expected to leverage both companies' strengths, potentially leading to increased operational efficiency and resource development. The partnership signifies a strategic move to bolster Agnico Eagle's position in the mining sector, while also benefiting Nukik's initiatives. The partnership may moderately influence Agnico Eagle's operational capabilities and market positioning, but its direct impact on Harmony Gold Mining's trajectory is limited.

4 Dec

4

Harmony Gold Mining Company Limited has increased its notes offering to $1.4 billion to enhance liquidity. This move aims to strengthen the company's financial position amid ongoing market challenges and operational demands. The upsizing of the notes offering is a significant strategic move to bolster liquidity, which could greatly influence the company's financial stability and market perception.

3 Dec

4

Wall Street analysts express optimism regarding Harmony Gold Mining Company Limited (HMY), citing potential growth and favorable market conditions. Investors are encouraged to consider buying shares as the company may benefit from rising gold prices and strategic initiatives. Analysts highlight the company's resilience and adaptability in a fluctuating market, suggesting that HMY could outperform expectations in the near future. Analysts' optimism and potential growth factors indicate significant impact on future performance and investor sentiment.

2 Dec

3

Barrick Gold Corporation is considering an initial public offering (IPO) for its subsidiary, which has received authorization from its board. This move is part of Barrick's strategy to enhance shareholder value and optimize its portfolio. The potential IPO could attract significant investor interest and provide capital for further investments. The IPO of a subsidiary may influence market sentiment and financial performance but is not expected to fundamentally alter Harmony Gold's trajectory.

1 Dec

3

Harmony Gold Mining Company Limited (HMY) is facing challenges due to fluctuating gold prices and operational issues. The company is working on improving its efficiency and reducing costs to enhance profitability. Investors are advised to monitor market conditions and company performance closely, as these factors will significantly influence HMY's future outlook. Fluctuating gold prices and operational challenges are expected to moderately influence Harmony Gold's financial performance and market positioning.

25 Nov

4

Harmony Gold Mining Company Limited has successfully completed the divestment of its subsidiary, enhancing its core operations. This strategic move is expected to streamline the company's focus and improve overall efficiency, positioning it for better performance in the competitive mining sector. The divestment of a subsidiary is a significant strategic move that can enhance operational focus and efficiency.

4

Harmony Gold Mining Company Limited has approved the development of the Eva Copper Project located in Queensland, Australia. This project is expected to enhance the company's portfolio and contribute to its growth strategy in the copper sector. The decision reflects Harmony's commitment to expanding its operations and diversifying its resource base. The approval of the Eva Copper Project represents a significant strategic move that could enhance Harmony's growth and market positioning.

18 Nov

4

Harmony Gold Mining Company Limited (HMY) has been identified as a strong buy stock, alongside other companies, indicating positive market sentiment and potential for growth. Investors are encouraged to consider HMY as part of their investment strategy for November 18. The identification of HMY as a strong buy suggests significant positive sentiment and potential for future performance improvement.

12 Nov

3

Harmony Gold Mining Company Limited (HMY) is highlighted in relation to upcoming government funding votes that could impact the gold market. The article discusses the potential implications for HMY and other gold companies, including Newmont Corporation (NEM), as they navigate the changing financial landscape. Investors are advised to monitor these developments closely, as they may influence market sentiment and operational strategies within the gold mining sector. Government funding votes could moderately influence market dynamics and investor sentiment affecting HMY's performance.

10 Nov

3

Harmony Gold Mining Company Limited (HMY) is under scrutiny from value investors considering its stock performance and market conditions. Analysts are evaluating the company's financial health, operational efficiency, and potential for growth amidst fluctuating gold prices and geopolitical factors. Investors are advised to weigh the risks and opportunities before making investment decisions. Current market conditions and operational factors may moderately influence Harmony Gold's financial performance and investor sentiment.

stockrow.com/HMY · Data as of Jun 30, 2023 · For information only; not investment advice. · © 2026 stockrow.com