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Harmony Gold Mining Company Limited (HMY)



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Upturn Advisory Summary
08/28/2025: HMY (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $14.82
1 Year Target Price $14.82
0 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -23.2% | Avg. Invested days 28 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 9.02B USD | Price to earnings Ratio 13.27 | 1Y Target Price 14.82 |
Price to earnings Ratio 13.27 | 1Y Target Price 14.82 | ||
Volume (30-day avg) 2 | Beta 0.33 | 52 Weeks Range 7.91 - 18.77 | Updated Date 08/29/2025 |
52 Weeks Range 7.91 - 18.77 | Updated Date 08/29/2025 | ||
Dividends yield (FY) 1.40% | Basic EPS (TTM) 0.95 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2025-08-28 | When - | Estimate - | Actual - |
Profitability
Profit Margin 19.47% | Operating Margin (TTM) 30.44% |
Management Effectiveness
Return on Assets (TTM) 19.41% | Return on Equity (TTM) 32.52% |
Valuation
Trailing PE 13.27 | Forward PE - | Enterprise Value 8603238824 | Price to Sales(TTM) 0.12 |
Enterprise Value 8603238824 | Price to Sales(TTM) 0.12 | ||
Enterprise Value to Revenue 2.26 | Enterprise Value to EBITDA 7.6 | Shares Outstanding 622182976 | Shares Floating 547050070 |
Shares Outstanding 622182976 | Shares Floating 547050070 | ||
Percent Insiders - | Percent Institutions 25.43 |
Upturn AI SWOT
Harmony Gold Mining Company Limited

Company Overview
History and Background
Harmony Gold Mining Company Limited was founded in 1950. Initially focused on gold production in South Africa, it has expanded its operations internationally through strategic acquisitions and exploration. It has evolved from a single mine operation to a diversified gold producer with assets in South Africa and Papua New Guinea.
Core Business Areas
- Underground Mining: Extraction of gold ore from underground deposits. Includes development, stoping, and ore handling.
- Surface Mining: Extraction of gold ore from surface deposits, typically through open-pit mining techniques.
- Processing: Crushing, milling, and chemical treatment of gold ore to extract gold.
- Exploration: Identifying and evaluating new gold deposits for future mining operations.
Leadership and Structure
Harmony is led by Peter Steenkamp (CEO). Its organizational structure includes operational divisions for each mine, supported by corporate functions such as finance, human resources, and technical services.
Top Products and Market Share
Key Offerings
- Gold Production: Harmony's primary product is gold. Market share data fluctuates; exact figures are commercially sensitive. Competitors include Newmont, Barrick Gold, AngloGold Ashanti. Revenue from gold sales constitutes the vast majority of Harmony's income.
Market Dynamics
Industry Overview
The gold mining industry is driven by global demand for gold, which is influenced by economic conditions, investment trends, and geopolitical events. Gold is seen as a safe haven asset, making prices very sensitive to market dynamics.
Positioning
Harmony is a mid-tier gold producer focusing on both underground and surface mining. Its competitive advantages include its deep understanding of South African geology and its operational expertise. They recently invested in processing equipment.
Total Addressable Market (TAM)
The global gold market is estimated to be worth hundreds of billions of dollars annually. Harmonyu2019s position gives them access to a portion of this TAM. However, gold prices are highly volatile.
Upturn SWOT Analysis
Strengths
- Established Operational Experience
- Deep Geological Expertise in South Africa
- Diversified Portfolio of Mines
- Cost Control Programs
- Increased operational output from recent technology and equipment investments
Weaknesses
- Exposure to Geopolitical Risk in South Africa
- Operational Challenges Related to Deep Underground Mines
- Fluctuations in Gold Prices
- Labor Relations
- Dependency on aging equipment
Opportunities
- Expansion through Acquisitions and Exploration
- Increasing Gold Prices
- Technological advancements in mining
- Developing new mines
- Improving Environmental Sustainability Measures
Threats
- Declining Gold Reserves
- Rising Operating Costs (Energy, Labor)
- Unstable Political and Economic Environment in South Africa
- Environmental Regulations
- Fluctuations in the Value of the South African Rand (ZAR)
Competitors and Market Share
Key Competitors
- Newmont Corporation (NEM)
- Barrick Gold Corporation (GOLD)
- AngloGold Ashanti (AU)
Competitive Landscape
Harmony is smaller than the top competitors. They are strong in deep mining. Market share and financials are affected by production capabilities and costs of production for each mine and processing plant.
Major Acquisitions
AngloGold Ashanti's Mponeng Mine
- Year: 2020
- Acquisition Price (USD millions): 300
- Strategic Rationale: Increased Harmonyu2019s gold production and extended mine life.
Growth Trajectory and Initiatives
Historical Growth: Harmony's historical growth has been a mixture of organic growth and acquisitions.
Future Projections: Future growth is projected to be driven by increased production from existing mines and potential acquisitions.
Recent Initiatives: Recent strategic initiatives include investing in new mining technology, streamlining operations, and acquiring smaller mining operations.
Summary
Harmony Gold Mining Company is a mid-tier gold producer with a strong presence in South Africa. The company benefits from its deep operational expertise, however, it faces challenges like fluctuations in gold prices and geopolitical risks. Recent acquisitions and focus on cost control are driving growth, although they need to be careful about environmental risks. Future success hinges on managing these factors effectively.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (where available)
- Market Research Reports
- Industry News
Disclaimers:
This analysis is for informational purposes only and does not constitute investment advice. Financial data may be limited due to its proprietary nature. Market share data is approximate.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Harmony Gold Mining Company Limited
Exchange NYSE | Headquaters - | ||
IPO Launch date 1996-09-30 | Group CEO & Executive Director Mr. Beyers B. Nel BEng, BSc, MBA | ||
Sector Basic Materials | Industry Gold | Full time employees 34715 | Website https://www.harmony.co.za |
Full time employees 34715 | Website https://www.harmony.co.za |
Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of mineral properties in South Africa, Papua New Guinea, and Australasia. The company explores for gold, uranium, silver, and copper deposits. It has eight underground operations in the Witwatersrand Basin; the Kraaipan Greenstone Belt; and various surface source operations in South Africa. In addition, the company owns interests in the Hidden Valley, an open-pit gold and silver mine; and the Wafi-Golpu project located in Morobe Province in Papua New Guinea. Further, it holds interest in Rosby and Eva Copper Project located in Queensland, Australia. The company was incorporated in 1950 and is based in Randfontein, South Africa.

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