HMY - Harmony Gold Mining Company Limited

NYSE - NYSE Delayed Price. Currency in USD
3.1300
+0.0600 (+1.95%)
At close: 4:02PM EST
Stock chart is not supported by your current browser
Previous Close3.0700
Open3.1100
Bid3.1300 x 45100
Ask3.1400 x 28000
Day's Range3.0700 - 3.2350
52 Week Range1.5700 - 3.9300
Volume8,414,523
Avg. Volume5,743,583
Market Cap1.6B
Beta (5Y Monthly)-0.29
PE Ratio (TTM)N/A
EPS (TTM)-0.7410
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateOct 11, 2017
1y Target Est3.90
  • AngloGold Seals South Africa Exit With $300 Million Asset Sale
    Bloomberg

    AngloGold Seals South Africa Exit With $300 Million Asset Sale

    (Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterSouth Africa’s fading gold industry has a new champion as iconic miner AngloGold Ashanti Ltd. sells its last remaining assets to Harmony Gold Mining Co.The $300 million deal marks the exit from South Africa of AngloGold, a company that emerged from a mining empire created by Ernest Oppenheimer a century ago. It also heralds a new era as Harmony, backed by black billionaire Patrice Motsepe’s African Rainbow Minerals Ltd., becomes the nation’s No. 1 gold producer.AngloGold is departing an industry that’s become expensive and dangerous as mines extend miles underground. The sector is less than a fifth of the size it was at its peak and its importance to the economy is rapidly diminishing. That doesn’t deter Harmony, which squeezes profits from a portfolio of mines by cutting costs and extending their lifespan.“We don’t think it’s a bad thing to be the last man standing,” Harmony Chief Executive Officer Peter Steenkamp said Wednesday on a conference call. “We have a different cost structure to Anglo.”Harmony shares climbed as much as 7.9%, before trading 3.9% higher as of 2:51 p.m. in Johannesburg. AngloGold gained 0.7%.The acquisition of AngloGold’s Mponeng mine and surface assets will help Harmony replenish its South African reserves. It will also boost output by about 350,000 ounces a year to more than 1.8 million ounces.Steenkamp expects to replicate the strategy employed when Harmony paid AngloGold $300 million in 2017 for its Moab Khotsong mine. Half of that money has already been paid back, the CEO said.Curbing costs at Mponeng, the world’s deepest mine, will be the key test for Harmony, said Rene Hochreiter, an analyst at Noah Capital Markets Ltd. in Johannesburg.“Harmony has shown what it can do when it comes to cutting costs when it acquired Moab,” Hochreiter said. “If it can do the same this time, there is substantial upside to the profitability of Mponeng and Harmony itself. If it doesn’t manage to do better than AngloGold did, this deal is not a dripping roast.”Harmony will acquire the new assets with $200 million of cash, plus deferred payments related to the performance of the operations. The AngloGold assets had a book value of 9.9 billion rand ($670 million) at the end of 2019, it said.For AngloGold, the sale furthers CEO Kelvin Dushnisky’s strategy of selling smaller operations as the producer focuses on more profitable mines in Ghana, Australia and the Americas.The sale may also pave the way for AngloGold to move its primary listing from Johannesburg. Analysts say that shifting to Toronto or London would narrow the discount that AngloGold shares trade at to larger rivals such as Barrick Gold Corp.“There is a window of opportunity in the current gold price environment to get a sale done and AngloGold is right to take advantage of this,” said James Bell, an analyst at RBC Capital Markets in London. “Closing today’s sale of the group’s South African assets and a potential move of its primary listing to London in time could also materially widen the group’s investor base.”(Updates with analyst comments in eighth paragraph)To contact the reporter on this story: Felix Njini in Johannesburg at fnjini@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Dylan Griffiths, Nicholas LarkinFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • AngloGold Picks Harmony to Buy South African Assets
    Bloomberg

    AngloGold Picks Harmony to Buy South African Assets

    (Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterAngloGold Ashanti Ltd. picked Harmony Gold Mining Co. as the buyer for its last remaining South African operations, according to people familiar with the matter.The two companies are finalizing the exact terms of the deal for the Mponeng mine and surface facilities, said the people, who asked not to be identified because the information is private.AngloGold is selling the assets as Chief Executive Officer Kelvin Dushnisky focuses on more profitable mines in Ghana, Australia and the Americas. Harmony -- backed by billionaire Patrice Motsepe’s African Rainbow Minerals Ltd. -- is hunting for deals to replenish declining reserves in South Africa. Harmony paid $300 million for AngloGold’s Moab Khotsong mine in 2017.AngloGold spokesman Chris Nthite declined to comment.Harmony is looking at potential acquisitions in South Africa and has a plan to finance the deals, Chief Executive Officer Peter Steenkamp said on a conference call Tuesday to discuss the company’s half-year results. The company is looking at assets with at least 1 million ounces of reserves and a 10-year life span, he said.AngloGold’s mines could be used as “criteria if we are to evaluate any assets” in South Africa, Steenkamp said.“We understand and we do have the ability and expertise to run underground mines,” he said. “We will not necessarily shy away from underground mines.”AngloGold’s Mponeng mine, the world’s deepest, produced 265,000 ounces of gold in 2018, while output from its surface operations, which extract the precious metal from ore dumps, totaled 171,000 ounces. Those South African assets accounted for about 13% of AngloGold’s production that year.AngloGold said last week it plans to provide an update on the asset sale on Feb. 21. In November, AngloGold narrowed the list of bidders for its South African assets to Harmony and Sibanye Gold Ltd., people familiar with the matter said at the time.The strategic rationale to find a buyer “trumps a straight valuation call” for the operations, said James Bell, an analyst at RBC Capital Markets in London. AngloGold needs to sell the assets before it can move its primary listing from Johannesburg to London, “something that we think could drive a material re-rating in time.”(Updates with Harmony CEO’s comments from fifth paragraph)To contact the reporters on this story: Felix Njini in Johannesburg at fnjini@bloomberg.net;Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Andre Janse van VuurenFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Harmony Gold Mining is Overbought: Is A Drop Coming?
    Zacks

    Harmony Gold Mining is Overbought: Is A Drop Coming?

    Harmony Gold Mining Company has moved higher as of late, but there could definitely be trouble on the horizon for this company.

  • Should You Buy Harmony Gold Mining Co.  (HMY)?
    Insider Monkey

    Should You Buy Harmony Gold Mining Co. (HMY)?

    Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]

  • Palladium ETF Is Soaring, Will the Trend Continue in 2020?
    Zacks

    Palladium ETF Is Soaring, Will the Trend Continue in 2020?

    Palladium ETF has seen a strong run this year on demand/supply imbalance. Will the trend continue in 2020?

  • Is Harmony Gold (HMY) a Great Value Stock Right Now?
    Zacks

    Is Harmony Gold (HMY) a Great Value Stock Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Has Harmony Gold Mining Company (HMY) Outpaced Other Basic Materials Stocks This Year?
    Zacks

    Has Harmony Gold Mining Company (HMY) Outpaced Other Basic Materials Stocks This Year?

    Is (HMY) Outperforming Other Basic Materials Stocks This Year?

  • Are Investors Undervaluing Harmony Gold (HMY) Right Now?
    Zacks

    Are Investors Undervaluing Harmony Gold (HMY) Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Hedge Funds Are Buying Harmony Gold Mining Company Limited (HMY)
    Insider Monkey

    Hedge Funds Are Buying Harmony Gold Mining Company Limited (HMY)

    We are still in an overall bull market and many stocks that smart money investors were piling into surged through October 17th. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 45% and 39% respectively. Hedge funds' top 3 stock picks returned 34.4% this year and beat the S&P […]

  • Top Ranked Value Stocks to Buy for September 17th
    Zacks

    Top Ranked Value Stocks to Buy for September 17th

    Top Ranked Value Stocks to Buy for September 17th

  • Reuters

    PNG demands Wafi-Golpu gold stays in-country, urges Newcrest, Harmony talks

    Papua New Guinea wants to keep 40% of gold produced from the proposed Wafi-Golpu project, the country's commerce minister said, creating a potential hurdle to an agreement with co-owners Newcrest Mining and Harmony Gold. The miners had been hoping to secure a mining lease over the major gold and copper deposit earlier this year, before a change in PNG's leadership and a shift in minerals policy led to delays. "We'd like to see Newcrest come to the negotiating table on this," PNG's Minister for Commerce and Industry Wera Mori told Reuters in a phone interview late on Thursday.

  • Reuters

    UPDATE 1-PNG demands Wafi-Golpu gold stays in-country, urges Newcrest, Harmony talks

    Papua New Guinea wants to keep 40% of gold produced from the proposed Wafi-Golpu project, the country's commerce minister said, creating a potential hurdle to an agreement with co-owners Newcrest Mining and Harmony Gold. The miners had been hoping to secure a mining lease over the major gold and copper deposit earlier this year, before a change in PNG's leadership and a shift in minerals policy led to delays. "We'd like to see Newcrest come to the negotiating table on this," PNG's Minister for Commerce and Industry Wera Mori told Reuters in a phone interview late on Thursday.

  • Harmony Gold (HMY) Is Up 3.63% in One Week: What You Should Know
    Zacks

    Harmony Gold (HMY) Is Up 3.63% in One Week: What You Should Know

    Does Harmony Gold (HMY) have what it takes to be a top stock pick for momentum investors? Let's find out.

  • The Zacks Analyst Blog Highlights: Apple, Harmony Gold, NRG, Ryman Hospitality and Dr. Reddy's
    Zacks

    The Zacks Analyst Blog Highlights: Apple, Harmony Gold, NRG, Ryman Hospitality and Dr. Reddy's

    The Zacks Analyst Blog Highlights: Apple, Harmony Gold, NRG, Ryman Hospitality and Dr. Reddy's

  • Top Stories of August Worth Watching in September
    Zacks

    Top Stories of August Worth Watching in September

    We discuss some of the events that dominated the headlines in August and will be worth watching this month.

  • 5 Gold Mining ETFs & Stocks Outperforming in August
    Zacks

    5 Gold Mining ETFs & Stocks Outperforming in August

    Trade has played foul on Wall Street throughout August, sending the broad indices into a tailspin, thus compelling investors to flock to gold as a great store of value and hedge against market turmoil.

  • Will Harmony Gold Continue to Surge Higher?
    Zacks

    Will Harmony Gold Continue to Surge Higher?

    As of late, it has definitely been a great time to be an investor Harmony Gold Mining.

  • Harmony Gold Mining Surges After Posting Annual Results
    GuruFocus.com

    Harmony Gold Mining Surges After Posting Annual Results

    South African miner increases production, improves profit Continue reading...

  • Harmony Gold's (HMY) Earnings and Sales Rise Y/Y in FY19
    Zacks

    Harmony Gold's (HMY) Earnings and Sales Rise Y/Y in FY19

    Harmony Gold's (HMY) FY19 results gain from higher gold sales. The company expects to produce 1.46 million oz of gold in fiscal 2020.

  • ACCESSWIRE

    Harmony Gold Mining Co. Ltd. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / August 19, 2019, 2018 / Harmony Gold Mining Co. Ltd. (NYSE: HMY ) will be discussing their earnings results in their 2019 Second Half Earnings to be held on August 19, 2019 ...

  • Harmony Gold (HMY) Is Up 14.29% in One Week: What You Should Know
    Zacks

    Harmony Gold (HMY) Is Up 14.29% in One Week: What You Should Know

    Does Harmony Gold (HMY) have what it takes to be a top stock pick for momentum investors? Let's find out.

  • 5 Stocks Hitting New Highs Amid Trade War Turbulence
    InvestorPlace

    5 Stocks Hitting New Highs Amid Trade War Turbulence

    The past two weeks have not been kind to the stock market.First, the Federal Reserve cut basis points by "only" 25 basis points in late July -- many investors were expecting a 50 basis point cut -- and then Fed Chair Jerome Powell sounded less dovish than expected in the following press conference with respect to future rate cuts. The next day, U.S. President Donald Trump -- perhaps in an attempt to force the Fed to cut rates -- upped the trade war ante by announcing a 10% tariff on $300 billion worth of Chinese goods. A few days later, China responded by directly devaluing its currency against the U.S. dollar.It has been nothing but bad economic news over the past two weeks for markets. Stocks have consequently taken a step back. As of this writing, the S&P 500 trades 5% off its all time highs.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut, not all stocks have stepped back with the market. Instead, some stocks have shrugged off the trade war noise, and have powered to fresh 2019 highs in early August. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What Which stocks have done that? More importantly, will they stay in rally mode?Let's answer those questions and more by taking a look at five stocks that rushed to fresh 2019 highs amid recent market turbulence. Hot Stocks Hitting 2019 Highs: Gold Stocks (GLD, AUY, KGC, GFI, HMY, RGLD, etc)YTD Change: 17% (for GLD)Pretty much every gold and gold-related stock -- Yamana Gold (NYSE:AUY), Kinross Gold Corporation (NYSE:KGC), Gold Fields (NYSE:GFI), Harmony Gold Mining (NYSE:HMY), and Royal Gold (NASDAQ:RGLD) -- has rushed to fresh 2019 highs in August as the trade war heats up.This makes 100% sense. Gold is often perceived as a hedge against risk of all sorts: geopolitical, economic, and financial market risk. All three of those risks are rising right now and have been rising all year long. The global geopolitical landscape is on rocky footing, with threats ranging from trade wars to political tensions. The global economy is slowing. Financial assets, particularly U.S. stocks and bonds, are trading at very rich valuations.As such, it makes complete sense that the SPDR Gold Trust ETF (NYSEARCA:GLD) is up 17% year-to-date, and at a multi-year high.This rally in gold and gold-related stocks should persist. The aforementioned geopolitical, economic, and financial market risks may cool going forward. But, they won't all together disappear. Throw in the fact that we are in the midst of the longest bull market in history, and it seems like investors will increasingly buy gold and gold-related stocks as a hedge against risk for the foreseeable future. Match (MTCH)YTD Change: 117%Growth stocks have been hit hard amid the recent market sell-off. Not Match (NASDAQ:MTCH). The online dating giant -- which owns Match.com, Tinder, Hinge, and many other dating platforms -- just reported second quarter numbers that breezed past expectations. It broadly affirmed that online dating is a global phenomena which nearly every single person wants to participate in.MTCH stock popped 25% to new all-time highs in response, and is now up nearly 101% year-to-date.Can the rally continue? Yes. Ultimately, Match has turned into the Facebook (NASDAQ:FB) of online dating, since they have basically acquired all their competitors (outside of Bumble) and own the entire online dating space.Online dating is a global phenomena. There's tons of room left for further subscriber and revenue growth here. All of the revenues are produced through a high-margin subscription model. Thus, there's visibility to huge profit growth over the next several years, and stocks with huge profit growth potential will out-perform so long as real rates remain next to zero.But, don't confuse a favorable market backdrop (real rates near zero) for fundamental support. MTCH stock now trades at 50 times forward earnings. Adjusted EBITDA grew 16% last quarter. That's a sharp disconnect that is supported only because of low rates. Thus, if rates move higher, MTCH stock will move lower. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates Until that happens, MTCH stock will stay on an uptrend. Most Solar Stocks (TAN, SEDG, ENPH, VSLR, etc)YTD Change: 66% (for TAN)Source: Shutterstock Solar energy stocks have on been fire in 2019, with the Invesco Solar Portfolio ETF (NYSEARCA:TAN) up nearly 67% year-to-date, as the long-term growth fundamentals underlying the industry have materially improved.Specifically, for the first time ever, solar energy is going mainstream. There are few fundamental drivers here. First, the numbers finally check out, as the cost of renewable energy has come down substantially. Second, consumers have increasingly adopted a "save the environment" approach to their consumption behavior, and part of that approach includes pivoting to solar. Third, legislation globally has increased incentives for solar tech adoption. Fourth, the underlying technology has improved meaningfully.These four fundamental drivers should persist for the foreseeable future. That means big growth is here to stay for solar companies. Just look at the profit growth estimates for these companies over the next few years. We are largely talking 20%-plus profit growth over the next several years. That's an attractive growth profile. It's especially attractive against the backdrop of low rates.As such, names like SolarEdge (NASDAQ:SEDG), Enphase Energy (NASDAQ:ENPH), and Vivint Solar (NYSE:VSLR) -- all of which are at 2019 highs today -- should continue to power higher. Shake Shack (SHAK)YTD Change: 103%Source: Shutterstock Shares of Shake Shack (NYSE:SHAK) powered to all-time highs in early August after the company reported second-quarter numbers which smashed expectations across the board. Importantly, the numbers and management commentary on the quarter confirmed that delivery expansion presents a huge revenue growth opportunity going forward, and that this growth opportunity won't meaningfully compromise margins -- so it presents a huge a profit growth opportunity, too.Investors celebrated those takeaways, and pushed SHAK stock to new highs.In the big picture, SHAK stock is now very richly valued. This valuation is somewhat supported by big growth -- positive comps on top of big unit expansion. But, as is the case with some of the other stocks on this list, part of the support from today's big valuation comes from low rates. After all, SHAK stock trades at a triple-digit forward earnings multiple, yet profits grew by less than 20% year-over-year last quarter. That discrepancy only makes sense given that real rates are next to zero. * 10 Stocks to Buy on the Trade War Dip If rates do rise from here, SHAK stock will get hit hard. Until that happens, momentum should continue to carry this stock higher for the foreseeable future. REITs (SCHH, WELL, CUBE)YTD Change: 19% (for SCHH)Source: Shutterstock Much like gold, REITs have been big winners amid recent market volatility as investors turned down their risk appetites, upped their defensive strategies, and turned to traditional safe-haven plays. The Schwab U.S. REIT ETF (NYSEARCA:SCHH) is presently just south of 2019 highs, and up 19% year-to-date. Names like Public Storage (NYSE:PSA), Welltower (NYSE:WELL), and CubeSmart (NYSE:CUBE) are all trading at 52-week highs.For the same reasons that gold and gold-related stocks will stay in rally mode, U.S. REITs will stay in rally mode, too. Geopolitical, economic, and financial market risks are rising, and they don't project to disappear anytime soon. So long as those risks stick around, investors will continue to play defense. One mainstream way to play defense is by piling into U.S. REITs.Also helping things will be current and future rate cuts. The lower rates go, the better the environment gets for REITs, and the more investors will smile upon the industry as a high-quality defensive play.Net-net, names like PSA, WELL, and CUBE should continue to grind higher into the end of the year.As of this writing, Luke Lango was long FB and TAN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post 5 Stocks Hitting New Highs Amid Trade War Turbulence appeared first on InvestorPlace.

  • 5 Soaring Top-Ranked Gold Stocks With More Upside Potential
    Zacks

    5 Soaring Top-Ranked Gold Stocks With More Upside Potential

    Given the optimism and intense buying pressure on the yellow metal, gold stocks have been surging this year. Below, we present five such high-flying stocks that will continue to outperform.