Financial Data and Key Metrics Changes - Group revenue increased by 25% to ZAR 61 billion, driven by higher production and gold prices [27] - Net profit rose by 78% to ZAR 8.7 billion, with EBITDA increasing by 54% to just under ZAR 19 billion [27][28] - Headline earnings per share increased by 132% to 1,852 South African cents or $0.99 per share [28] - Operating free cash flow surged over 100% to a record ZAR 13 billion or US$681 million, achieving a margin of 22% [8][22] Business Line Data and Key Metrics Changes - Gold production increased by 6% to 1.56 million ounces, exceeding revised guidance [7] - Underground recovery grades improved by 6% to 6.11 grams per tonne [8] - Silver production rose by 39% to a record 3.7 million ounces, generating revenue of ZAR 1.7 billion [21] - Uranium production increased by 13% to 590,000 pounds, generating revenue of just under ZAR 900 million [21] Market Data and Key Metrics Changes - 96% of revenue is from gold, with byproducts (silver and uranium) contributing 3% and 1% respectively [20] - The company expects approximately 20% of future production to come from copper within the next 10 years, primarily from the Wafi-Golpu and Eva Copper projects [3][10] Company Strategy and Development Direction - Harmony's strategy focuses on responsible stewardship, operational excellence, cash certainty, and effective capital allocation [3] - Major capital is allocated towards high-quality assets like Moab Khotsong and Mponeng, as well as projects that lower risk profiles [4][10] - The company aims to grow reserves and improve margins through investments in existing assets and new projects [5][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production targets of 1.4 to 1.5 million ounces in FY '25, with underground recovery grades expected above 5.8 grams per tonne [33] - The company is optimistic about maintaining a strong balance sheet and cash flow, with a net cash position of ZAR 2.9 billion [28][31] - Management emphasized the importance of safety and operational excellence, aiming for zero loss of life [19][20] Other Important Information - Harmony has been included in the FTSE4Good Index for the 7th consecutive year, reflecting its commitment to sustainability [9] - The company is progressing with the feasibility study for the Eva Copper project, which is expected to produce between 50,000 and 60,000 tonnes of copper per annum [13] - Total capital expenditure for FY '25 is expected to increase to ZAR 10.8 billion, with a focus on high-grade underground projects [14][30] Q&A Session Summary Question: Thoughts on underground operations and grade improvements - Management attributed grade improvements to acquiring high-grade assets in Mponeng and Moab Khotsong, emphasizing operational excellence and quality control [36][38] Question: FY '25 guidance and potential for better performance - Management expressed optimism about beating guidance, citing strong momentum in operations and a conservative planning approach [40][41] Question: Drivers for increased CapEx in FY '25 and FY '26 - Management highlighted the need for sustaining capital due to better performance, development requirements, and ongoing IT upgrades as key drivers for increased CapEx [42][43][47] Question: Succession plan and intentions for cash reserves - Management confirmed that a succession plan is in place, with a focus on maintaining a balanced capital allocation framework while pursuing growth opportunities [50][53]

FY24 ANNUAL RESULTS Peter Steenkamp, CEO 5 September 2024 © Harmony JSE ticker code HAR NYSE ticker code HMY MINING WITH PURPOSE 2 © Harmony PRIVATE SECURITIES LITIGATION REFORM ACT SAFE HARBOUR STATEMENT AND DISCLAIMER FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the safe harbour provided by Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), with respect to our financial condition, resul ...

J Studios Investment Thesis Harmony is one of the highest-cost gold miners globally, with significant earnings leverage to the gold price. Its production growth surprised the market in 2024, driven by improved recovered grades in its two young underground mines, which we view as sustainable. FY24 performance exceeded its production target and cost guidance and full year adjusted EPS was up over 100% from a year ago. Introduction Harmony Gold Mining Company Limited (NYSE:HMY) is a mid-sized gold miner based ...

Harmony Gold (HMY) closed the most recent trading day at $11.16, moving -0.53% from the previous trading session. This move lagged the S&P 500's daily gain of 0.42%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 0.57%. Coming into today, shares of the gold miner had gained 23.43% in the past month. In that same time, the Basic Materials sector lost 0.84%, while the S&P 500 gained 1.77%. The investment community will be closely monitoring the performance of Harmony Gold in its forth ...

Harmony Gold (HMY) closed the latest trading day at $10.13, indicating a +1.3% change from the previous session's end. The stock lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow experienced a rise of 1.39%, and the technology-dominated Nasdaq saw an increase of 2.34%. Coming into today, shares of the gold miner had lost 5.12% in the past month. In that same time, the Basic Materials sector lost 5.56%, while the S&P 500 lost 2.88%. Analysts and investors alike will be keeping a close eye on the p ...

In the latest market close, Harmony Gold (HMY) reached $9.48, with a +0.48% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.51%. Prior to today's trading, shares of the gold miner had lost 5.79% over the past month. This has lagged the Basic Materials sector's loss of 3.94% and the S&P 500's loss of 4.45% in that time. Investors will be eagerly watching for the performance of Harmo ...

Harmony Gold (HMY) closed the latest trading day at $9.57, indicating a -1.54% change from the previous session's end. This change lagged the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 2.3%. Shares of the gold miner have appreciated by 3.85% over the course of the past month, outperforming the Basic Materials sector's loss of 0.16% and the S&P 500's gain of 1.11%. The investment community will be paying close attention to the earnings performance ...

Harmony Gold (HMY) closed at $9.09 in the latest trading session, marking a +0.55% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the techheavy Nasdaq lost 0.06%. The investment community will be closely monitoring the performance of Harmony Gold in its forthcoming earnings report. For the full year, the Zacks Consensus Estimates project earnings of $1.20 per share and a revenue of $3.7 billion, demonstrating changes of +166.67% and + ...

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.20 per share and a revenue of $3.7 billion, signifying shifts of +166.67% and +33.15%, respectively, from the last year. In terms of valuation, Harmony Gold is presently being traded at a Forward P/E ratio of 8.02. This denotes a discount relative to the industry's average Forward P/E of 16.84. Harmony Gold (HMY) closed at $9.45 in the latest trading session, marking a -1.77% move from the prior day. This move lagged the S&P 500' ...

Advantages of Investing in Gold Miner Stocks Going back to the investing purists, who scoff at the idea of investing in a commodity with no earnings, they do make a reasonable point. However, there is one way to both invest in gold, and potentially derive some income. Gold mining stocks offer the advantage of getting exposure to gold, while also offering an income stream through dividends, which are paid from the profits of running a gold mine. Of course, they aren't perfect and it's important to be aware o ...