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Harmony Gold Mining
(NYSE:HMY)
Harmony Gold Mining (HMY) vs. SPDR S&P 500 ETF (SPY)
Harmony Gold Mining Business Overview & Revenue Model
Harmony Gold Mining Earnings Call Summary
Harmony Gold Mining Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2023 | Dec 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.90B | 73.90B | 61.38B | 49.27B | 49.27B | 49.27B |
| Gross Profit | 29.30B | 29.30B | 14.15B | 9.74B | 9.74B | 9.74B |
| EBITDA | 26.27B | 26.27B | 16.52B | 11.05B | 11.05B | 11.05B |
| Net Income | 14.38B | 14.38B | 8.59B | 4.82B | 4.82B | 4.82B |
Balance Sheet | ||||||
| Total Assets | 77.50B | 77.50B | 60.46B | 57.24B | 57.24B | 57.24B |
| Cash, Cash Equivalents and Short-Term Investments | 13.10B | 13.10B | 4.73B | 2.87B | 2.87B | 2.87B |
| Total Debt | 2.23B | 2.23B | 2.29B | 6.22B | 6.22B | 6.22B |
| Total Liabilities | 28.99B | 28.99B | 19.51B | 22.36B | 22.36B | 22.36B |
| Stockholders Equity | 48.23B | 48.23B | 40.77B | 34.76B | 34.76B | 34.76B |
Cash Flow | ||||||
| Free Cash Flow | 10.79B | 10.79B | 7.25B | 2.31B | 2.31B | 2.31B |
| Operating Cash Flow | 22.65B | 22.65B | 15.65B | 9.95B | 9.95B | 9.95B |
| Investing Cash Flow | -11.96B | -11.96B | -8.37B | -10.60B | -10.60B | -10.60B |
| Financing Cash Flow | -2.21B | -2.21B | -5.43B | 1.19B | 1.19B | 1.19B |
Harmony Gold Mining Technical Analysis
Harmony Gold Mining Risk Analysis
Harmony Gold Mining Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $14.84B | 24.10 | 14.90% | 1.02% | 28.11% | 66.85% | |
73 Outperform | $10.46B | 12.43 | 32.05% | 1.27% | 29.08% | 72.12% | |
72 Outperform | $9.08B | 44.63 | 8.88% | 0.21% | 45.61% | ― | |
67 Neutral | $2.30B | 17.69 | 28.10% | 1.50% | 30.05% | 73.40% | |
66 Neutral | $9.43B | 21.54 | 19.57% | ― | 72.94% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | $7.77B | ― | -8.31% | ― | 6.27% | 93.14% |
Harmony Gold Mining Corporate Events
On November 3, 2025, Harmony Gold Mining Company Limited announced the filing of its annual report on Form 20-F for the fiscal year ending June 30, 2025, with the United States Securities and Exchange Commission. This filing, which was completed on October 31, 2025, is a significant step in maintaining transparency and compliance with international financial reporting standards, potentially impacting the company’s operations and stakeholder confidence.
On October 27, 2025, Harmony Gold Mining Company Limited reported a tragic incident at its Mponeng mine, resulting in the loss of life of an electrician during routine maintenance on October 26, 2025. The company expressed condolences to the bereaved family and initiated a full investigation in collaboration with the Department of Mineral and Petroleum Resources. Harmony reiterated its commitment to safety and proactive measures to ensure a culture of care across its operations.
Harmony Gold Mining Company Limited announced the release of its annual reporting suite for the financial year ending June 30, 2025, on October 24, 2025. The reports highlight a year of consistent delivery, with Harmony meeting production guidance for the tenth consecutive year and achieving record free cash flows. The company is celebrating its 75th anniversary and is focused on expanding into copper to diversify its operations. Additionally, Harmony is committed to transformation in South Africa, as evidenced by its Broad-Based Black Economic Empowerment report. The company also announced proposed changes to its board committees, including the appointment of Ms. Zanele Matlala as Chairperson of the Social and Ethics Committee, subject to shareholder approval at the upcoming AGM.
On October 24, 2025, Harmony Gold Mining Company Limited announced the completion of its acquisition of MAC Copper Limited, securing full ownership of the high-grade CSA copper mine in New South Wales, Australia. This strategic acquisition, valued at approximately US$1.01 billion, was funded through cash reserves and a bridge facility, and is expected to enhance Harmony’s position as a global gold and copper producer. The integration of the CSA mine is set to begin immediately, aiming to align its operations with Harmony’s frameworks to boost efficiency and contribute to long-term growth. This move marks a significant step in Harmony’s strategy to expand its copper production capabilities, reinforcing its commitment to sustainable value creation.
On October 10, 2025, Harmony Gold Mining Company Limited announced that the Royal Court of Jersey has sanctioned its acquisition of MAC Copper Limited through a scheme of arrangement. This legal approval allows Harmony to proceed with the acquisition, with the implementation expected on October 24, 2025, granting Harmony ownership and operational control of the CSA Copper Mine. This strategic move is anticipated to enhance Harmony’s market position by diversifying its mining portfolio to include copper, potentially impacting stakeholders positively by expanding the company’s operational footprint.
On October 3, 2025, Harmony Gold Mining Company Limited announced the awarding of deferred shares to its executive directors and prescribed officers as part of the 2018 Harmony Deferred Share Plan. The shares, awarded on September 18, 2025, are set to vest in five equal tranches over a five-year period. This move is in compliance with the JSE Listings Requirements and reflects the company’s commitment to aligning the interests of its executives with those of its shareholders, potentially impacting the company’s operational focus and stakeholder confidence.
On September 25, 2025, Harmony Gold Mining Company Limited announced the vesting and settlement of deferred share awards for its directors and prescribed officers under the Harmony Deferred Share Plan 2018. The transactions, which took place on September 18 and 22, 2025, involved the sale of vested ordinary shares by key executives, including the Group CEO, Financial Director, and other senior officers. These transactions reflect the company’s ongoing efforts to align executive compensation with shareholder interests and market performance.
On September 1, 2025, Harmony Gold Mining announced that MAC Copper Limited’s shareholders approved the sale of 100% of its issued share capital to Harmony Gold (Australia) Pty Ltd. This acquisition, pending final conditions, will add the high-grade CSA Copper mine in Australia to Harmony’s portfolio, enhancing cash flow resilience and supporting global decarbonisation trends.
Harmony Gold Mining Company Limited reported its financial results for the year ended June 30, 2025, highlighting record cash flows, strong margins, and strategic expansion into copper. Despite a 5% decrease in gold production due to safety-related stoppages and adverse weather, the company achieved a 20% increase in revenue, driven by higher gold prices and improved grades at its South African operations. The company declared a record dividend payout and increased its net cash position significantly. Harmony’s strategic focus on copper as a key component of its growth strategy aligns with global energy transition trends, enhancing its portfolio and long-term growth outlook.
Harmony Gold Mining Company Limited reported its financial results for the year ended June 30, 2025, highlighting a strong performance with record free cash flows and a 26% increase in headline earnings per share. Despite a 5% decrease in total gold production, the company achieved a 27% increase in the average gold price received and a 31% increase in the Eva Copper Mineral Resource. The company declared a final dividend of 155 SA cents per share, reflecting its commitment to shareholder returns. Harmony’s strategic focus on high-margin gold and copper operations, coupled with a disciplined approach to safety and sustainability, underscores its robust financial health and future growth prospects.
Harmony Gold Mining announced its financial results for the year ended June 30, 2025, marking its tenth consecutive year of meeting guidance. The company achieved a group production of 46,023kg of gold, driven by strong performance from its South African operations and the Hidden Valley mine. Improved underground grades and disciplined cost management contributed to maintaining all-in sustaining costs within the guided range. The company expects a significant increase in earnings per share due to higher group revenue and gold prices, despite increased production costs and taxation expenses. Harmony’s strategy focuses on enhancing margins and long-term returns by prioritizing high-margin, low-risk assets.
On August 19, 2025, Harmony Gold Mining Company Limited announced that its subsidiary, Harmony Gold (Australia) Pty Ltd, received approval from the Australian Foreign Investment Review Board for the acquisition of MAC Copper Limited. This acquisition includes the high-grade CSA Copper Mine in New South Wales, Australia, which produced approximately 41kt of copper in 2024. The approval marks a significant milestone in Harmony’s strategy to transform into a global gold and copper producer, promising substantial value for shareholders and stakeholders. The transaction is still subject to certain conditions, including shareholder approvals and court sanctioning, with the final decision expected after meetings on August 29, 2025.
On August 14, 2025, Harmony Gold Mining Company Limited appointed Frans Lombard as an independent non-executive director to its Board of Directors. With extensive experience in the metals, mining, engineering, and construction industries, Lombard is expected to enhance the board’s oversight capabilities and support the company’s commitment to sustainable value for shareholders and stakeholders.