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Harmony Gold Mining Company Limited (HMY)



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Upturn Advisory Summary
09/16/2025: HMY (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $15
1 Year Target Price $15
0 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -19.12% | Avg. Invested days 28 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 9.46B USD | Price to earnings Ratio 11.47 | 1Y Target Price 15 |
Price to earnings Ratio 11.47 | 1Y Target Price 15 | ||
Volume (30-day avg) 2 | Beta 0.33 | 52 Weeks Range 7.91 - 18.77 | Updated Date 09/16/2025 |
52 Weeks Range 7.91 - 18.77 | Updated Date 09/16/2025 | ||
Dividends yield (FY) 1.18% | Basic EPS (TTM) 1.31 |
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 11.47 | Forward PE - | Enterprise Value 8814995030 | Price to Sales(TTM) 0.13 |
Enterprise Value 8814995030 | Price to Sales(TTM) 0.13 | ||
Enterprise Value to Revenue 2.07 | Enterprise Value to EBITDA 5.73 | Shares Outstanding 622552000 | Shares Floating 547050070 |
Shares Outstanding 622552000 | Shares Floating 547050070 | ||
Percent Insiders - | Percent Institutions 25.48 |
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 the Witwatersrand Basin in South Africa, it has expanded to become a global gold producer through strategic acquisitions and organic growth.
Core Business Areas
- Underground Mining: Extraction of gold ore from underground mines. This is a major segment contributing significant revenue.
- Surface Mining: Extraction of gold ore from surface operations. This complements underground mining activities.
- Processing: Processing of extracted ore to produce gold bullion. This involves crushing, milling, and refining operations.
Leadership and Structure
Peter Steenkamp serves as the Chief Executive Officer. The organizational structure includes various operational divisions overseeing mining and processing activities, as well as corporate functions such as finance, legal, and investor relations.
Top Products and Market Share
Key Offerings
- Competitors: Newmont (NEM), Barrick Gold (GOLD), AngloGold Ashanti (AU)
- Gold Bullion: Primary product. Revenue from gold sales constitutes the bulk of the company's income. They do not have the largest market share but compete globally with other large mining companies.
Market Dynamics
Industry Overview
The gold mining industry is influenced by factors such as gold prices, geopolitical events, inflation, and interest rates. Demand is driven by investment, jewelry, and industrial applications.
Positioning
Harmony Gold is a mid-tier gold producer. Its competitive advantages include its expertise in deep-level mining and its geographic diversification. Its main disadvantage is higher cost of production and regulatory uncertainty.
Total Addressable Market (TAM)
The global gold market is estimated to be worth hundreds of billions of dollars annually. Harmony Gold has positioned itself to capture a portion of this market through its production capacity and strategic investments.
Upturn SWOT Analysis
Strengths
- Deep-level mining expertise
- Geographic diversification
- Strong operational track record
Weaknesses
- High production costs relative to peers
- Exposure to South African regulatory risks
- Operational challenges in some mines
Opportunities
- Exploration potential in existing mining areas
- Acquisition of new mining assets
- Expansion into other commodities
Threats
- Fluctuations in gold prices
- Increasing operating costs
- Geopolitical risks
- Environmental regulations
Competitors and Market Share
Key Competitors
- Newmont (NEM)
- Barrick Gold (GOLD)
- AngloGold Ashanti (AU)
- Kinross Gold (KGC)
Competitive Landscape
Harmony Gold's strengths include its deep-level mining expertise and geographic diversification. Its disadvantages include higher production costs and exposure to regulatory risks compared to some of its competitors. Market shares are constantly changing due to acquisitions and mine production updates.
Major Acquisitions
Hidden Valley Mine
- Year: 2016
- Acquisition Price (USD millions): 265
- Strategic Rationale: Expansion into Papua New Guinea
Growth Trajectory and Initiatives
Historical Growth: Harmony Gold's growth has been driven by acquisitions, organic production increases, and changes in gold prices. Growth has been unsteady in recent years due to operational challenges and fluctuations in global gold prices.
Future Projections: Future projections would require analyst estimates. Analysts predictions for gold prices is required.
Recent Initiatives: Strategic initiatives include cost reduction programs, exploration projects, and acquisitions to expand the company's resource base.
Summary
Harmony Gold is a mid-tier gold producer with expertise in deep-level mining. While it has strengths in diversification and operations, its higher production costs and regulatory risks pose challenges. Fluctuating gold prices and operating costs influence its profitability, while strategic initiatives aim to bolster long-term growth. Its current overall rating is average, given its position in the market.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (SEC)
- Analyst Reports
- Industry Publications
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Market conditions can change rapidly, and investors should conduct their own due diligence.
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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