Harmony Gold Mining Company Limited (HMY) AI Stock Analysis

Harmony Gold Mining Company Limited is actively involved in the exploration, extraction, and processing of precious metals, primarily focusing on gold. Beyond gold, the company explores for uranium, silver, copper, and molybdenum. Operating primarily in South Africa, Harmony Gold runs eight underground mines in the Witwatersrand Basin, an open-pit mine on the Kraaipan Greenstone Belt, and several surface source operations. Internationally, the company owns stakes in the Hidden Valley open-pit gold and silver mine and is involved in the Wafi-Golpu gold and copper project in Morobe Province, Papua New Guinea. Founded in 1950, it is headquartered in Randfontein, South Africa.

Harmony Gold demonstrated rapid top-line growth over five fiscal years, posting a 5-year revenue CAGR of 20.2% from FY2021 to FY2026. Annual revenue expanded from $42.65B in FY2022 to $104.72B in FY2026, when top-line growth reached 41.7%. Operating margin improved significantly from -1.8% in FY2022 to 44.6% in FY2026, lifting net income from -$1.05B to $28.23B over the same span. Over the trailing twelve months ended June 30, 2026, revenue stood at $99.24B with an operating margin of 47.2% and EPS of $2.74. In the latest quarter, quarterly revenue grew 49.2% year-over-year while quarterly earnings surged 198.8%.

As of June 30, 2026, Harmony Gold held $9.42B in cash and short-term investments alongside total debt of $9.40B, resulting in a net cash position of $17.9M. Total assets stood at $124.99B against shareholders' equity of $74.50B, with a debt-to-equity ratio of 0.13 and a current ratio of 0.84. In FY2026, the business produced $32.33B in operating cash flow and $15.17B in free cash flow. For that fiscal year, capital expenditures totaled $17.16B, and dividends paid reached $4.29B.

At $17.12, Harmony Gold traded at a trailing P/E of 6.2x, below the 19.7x median of its US-listed Basic Materials peers. Its forward P/E was 20.7x, compared to the peer median of 13.4x, and its EV-to-EBITDA was 6.0x versus the 10.5x peer median. Price-to-sales was 0.1x against the peer median of 1.8x. Over the past 1-year period, HMY delivered a return of -18.1%, trailing the S&P 500 (SPY) return of 16.8%. However, over a 5-year timeframe, the stock gained 386.0%, outpacing the S&P 500 return of 83.0%.

Harmony Gold pays a semiannual dividend with an annual forward payout of $0.78, yielding 4.55% as of October 16, 2026. The company has paid consecutive dividends for 6 years. Its payout ratio sits at 14.8%, and the last ex-dividend date was October 9, 2026.

Wall Street coverage includes 3 analysts, with 1 Strong Buy rating, 0 Buy ratings, and 2 Hold ratings. The mean price target is $22.19, which represents a 29.6% premium over the last close of $17.12. For the fiscal year ending June 30, 2027, consensus estimates forecast EPS of $2.94 and revenue of $107.62B. For the following fiscal year, 2 analysts project revenue of $122.62B and EPS of $3.30. Harmony Gold has beaten EPS estimates in 2 of the last 4 quarters.

This page is an AI-written research summary of Harmony Gold Mining Company Limited (HMY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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