Company Performance - Harmony Gold (HMY) closed at $15.91, reflecting a +2.71% increase from the previous day, outperforming the S&P 500's decline of 0.4% [1] - The stock has appreciated by 4.45% over the past month, surpassing the Basic Materials sector's gain of 2.44% and the S&P 500's gain of 1.67% [1] Earnings Estimates - Harmony Gold is expected to announce its earnings on August 28, 2025, with Zacks Consensus Estimates predicting earnings of $2.85 per share and revenue of $0 million, representing a +190.82% change in earnings from the previous year [2] - The consensus EPS projection has remained stagnant over the past 30 days, and Harmony Gold currently holds a Zacks Rank of 2 (Buy) [5] Analyst Estimates and Valuation - Changes in analyst estimates for Harmony Gold are crucial as they reflect short-term business trends, with positive revisions indicating a favorable outlook on the company's health and profitability [3] - Harmony Gold has a Forward P/E ratio of 5.44, significantly lower than the industry average of 12.96, and a PEG ratio of 0.09 compared to the Mining - Gold industry's average PEG ratio of 0.58 [6] Industry Context - The Mining - Gold industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 75, placing it in the top 31% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

智通财经APP获悉，周一，三大指数高开低走，最终均收跌，市场等待CPI与PPI等关键通胀报告。周一 早间，纳指最高上涨至21544.21点，创盘中历史新高。 【美股】截至收盘，道指跌200.52点，跌幅为0.45%，报43975.09点；纳指跌64.62点，跌幅0.3%，报 21385.4点；标普500指数跌16点，跌幅为0.25%，报6373.45点。C3.ai(AI.US)收跌25.6%，英特尔 (INTC.US)涨3.51%，英伟达(NVDA.US)跌0.35%。黄金板块走弱，巴里克矿业(B.US)收跌2.54%，哈莫 尼黄金(HMY.US)跌1.81%。纳斯达克中国金龙指数微跌0.29%。 【宏观消息】 特朗普团队将鲍曼、杰斐逊和洛根纳入美联储主席候选人之列。据两名美国政府官员透露，美联储两位 副主席鲍曼和杰斐逊以及达拉斯联储主席洛根正在考虑在明年美联储主席一职空缺时出任该职位。负责 遴选的财政部长贝森特说，他将在未来几周内面试更多的候选人。官员说，特朗普预计将在今年秋天做 出最后宣布。知情人士说，其他仍在考虑中的人选包括特朗普经济顾问凯文·哈塞特、美联储理事沃 勒、经济学家马克·萨默林以及前美联储官 ...

Company Performance - Harmony Gold (HMY) closed at $15.82, reflecting a -1.25% change from the previous day, underperforming the S&P 500 which lost 0.08% [1] - Prior to the recent trading session, shares of Harmony Gold had gained 11.79%, outperforming the Basic Materials sector's loss of 1.5% and the S&P 500's gain of 1.21% [1] Earnings Forecast - Zacks Consensus Estimates project earnings of $2.85 per share and revenue of $0 million for the year, indicating a significant increase of +190.82% in earnings compared to the previous year [2] Analyst Estimates - Recent changes to analyst estimates for Harmony Gold reflect short-term business trends, with positive revisions indicating a favorable outlook on the company's health and profitability [3] Zacks Rank and Valuation - Harmony Gold currently holds a Zacks Rank of 1 (Strong Buy), with a Forward P/E ratio of 5.62, which is a discount compared to the industry average Forward P/E of 13.38 [5] - The company has a PEG ratio of 0.1, significantly lower than the Mining - Gold industry's average PEG ratio of 0.58 [6] Industry Context - The Mining - Gold industry is part of the Basic Materials sector and holds a Zacks Industry Rank of 54, placing it in the top 22% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Company Overview - Harmony Gold Mining is one of the largest gold miners globally, with an expected production of up to 1.5 million ounces in the current year [1] Industry Insights - The company operates predominantly in South Africa and is involved in various growth projects, indicating a strategic focus on expanding its operations [1] Analyst Background - The analyst has over 10 years of experience researching companies across various sectors, including commodities like gold, and has transitioned to a value investing-focused platform [1]

Core Insights - Harmony Gold Mining Co. Ltd. (HMY) and Gold Fields Limited (GFI) are benefiting from a surge in gold prices, currently above $3,300 per ounce, driven by global economic uncertainties and investor demand for safe-haven assets [1][2] - Gold prices have increased approximately 27% this year, with central banks accumulating gold reserves amid geopolitical tensions and trade policy changes [2] - A comparison of HMY and GFI is relevant for investors looking for exposure in the precious metals sector [1] Harmony Gold Mining Co. Ltd. (HMY) - HMY is South Africa's largest gold producer by volume, with production of approximately 1.56 million ounces in fiscal 2024 [4] - The Wafi-Golpu project in Papua New Guinea has an estimated gold reserve of 13 million ounces and is seen as a potential game-changer for HMY [5] - The Eva Copper project in Australia, acquired in 2022, is expected to produce 55,000-60,000 tons of copper annually and is part of HMY's strategy to transition into a low-cost gold and copper mining company [6] - HMY's net cash increased by about 53% to $592 million at the end of Q3 fiscal 2025 [7] - HMY has a dividend policy to pay 20% of net free cash generated, with a current dividend yield of 1.4% and a five-year annualized dividend growth rate of approximately 19.4% [8] Gold Fields Limited (GFI) - GFI's gold production increased roughly 19% year-over-year to 551,000 ounces in Q1 2025, with a production guidance of 2.25-2.45 million ounces for the year [10] - The acquisition of Osisko Mining in October 2024 strengthens GFI's portfolio and expands its presence in Quebec [11] - GFI's Windfall project in Quebec targets an annual production of 300,000 ounces of gold [12] - GFI's net debt decreased to $1,981 million at the end of Q1 2025, and it offers a dividend yield of 2.5% with a five-year annualized dividend growth rate of about 17.3% [15] Valuation and Performance - Year-to-date, HMY stock has increased by 71%, while GFI stock has risen by 91.8%, outperforming the Zacks Mining – Gold industry's increase of 55.4% [16] - HMY trades at a forward earnings multiple of 4.93, representing a 60% discount compared to the industry average of 12.4 [17] - GFI trades at a forward earnings multiple of 8.74, which is below the industry average [19] - The Zacks Consensus Estimate for HMY's 2025 EPS implies a year-over-year rise of 190.8%, while GFI's EPS growth is estimated at 93.9% [20][24] Investment Considerations - Both HMY and GFI are well-positioned to capitalize on the current gold price environment, with HMY appearing to have a more attractive valuation and stronger growth projections [26]

Group 1 - Harmony Gold Mining Co. Ltd. (HMY) is confident in achieving its fiscal 2025 production guidance of 1.4-1.5 million ounces of gold despite a 6% year-over-year decline in gold output to approximately 1.11 million ounces in the first nine months due to unprecedented rainfall affecting operations [1][6] - The company raised its underground recovered grade guidance to 6.00g/t from 5.80g/t, expecting to exceed this target based on strong performances from its Mponeng and Moab Khotsong assets [2][6] - HMY's shares have increased by 68.9% year to date, outperforming the Zacks Mining – Gold industry's rise of 58.7%, attributed to a surge in gold prices [5] Group 2 - AngloGold Ashanti plc (AU) reported a 22% year-over-year increase in gold production to 720,000 ounces in the first quarter of 2025, marking its strongest first-quarter production since 2020 [3] - Gold Fields Limited (GFI) achieved a 19% year-over-year increase in attributable equivalent gold production to 551,000 ounces in the first quarter of 2025 and remains on track to meet its production guidance for the year [4] - The Zacks Consensus Estimate for HMY's fiscal 2025 earnings indicates a significant year-over-year rise of 190.8%, with EPS estimates trending higher over the past 60 days [7] Group 3 - HMY is currently trading at a forward 12-month earnings multiple of 4.87, which is approximately 61.7% lower than the industry average of 12.72X, and holds a Value Score of B [8] - HMY stock is rated as a Zacks Rank 1 (Strong Buy) [10]

Company Overview - Harmony Gold is currently ranked 1 (Strong Buy) in the Zacks Rank system, indicating strong potential for outperforming the market in the near term [3] - The company has seen a significant increase in its full-year earnings estimate, which has risen by 43.9% over the past quarter, reflecting improved analyst sentiment [4] Performance Metrics - Year-to-date, Harmony Gold has gained approximately 83.1%, significantly outperforming the Basic Materials sector, which has returned an average of 15.8% [4] - Within the Mining - Gold industry, Harmony Gold ranks 12 in the Zacks Industry Rank, with the industry itself averaging a gain of 58.7% this year, indicating that Harmony Gold is performing better than its peers [6] Comparative Analysis - Another stock in the Basic Materials sector, Novozymes A/S, has a year-to-date return of 22.7% and also holds a Zacks Rank of 1 (Strong Buy) [5] - Novozymes A/S belongs to the Chemical - Specialty industry, which is currently ranked 89, with an average year-to-date gain of 5.5%, showing a stark contrast to Harmony Gold's performance [6] Sector Context - The Basic Materials sector consists of 238 individual stocks and is ranked 10 in the Zacks Sector Rank, which evaluates sectors based on the average Zacks Rank of individual companies [2]

Core Viewpoint - Harmony Gold Mining Co. Ltd. (HMY) is focusing on long-term growth through the execution of two key development projects: the Wafi-Golpu copper-gold project in Papua New Guinea and the Eva Copper project in Australia [1]. Group 1: Wafi-Golpu Project - The Wafi-Golpu project is a significant asset for HMY, with an estimated gold reserve of 13 million ounces, making it one of the largest copper-gold block cave projects globally [2]. - HMY is currently negotiating with its joint venture partner, Newmont Corporation, and the PNG Government regarding the Mining Development Contract necessary for a Special Mining Lease, with permitting on track [2]. Group 2: Eva Copper Project - The Eva Copper project in Australia is considered low-risk and adds to HMY's global copper-gold footprint, aligning with its goal of becoming a low-cost mining company [3]. - HMY acquired Eva Copper in 2022, and the project is expected to produce between 55,000 to 60,000 tons of copper annually, with a feasibility study update currently in progress [3]. Group 3: Strategic Diversification - HMY's strategy includes diversifying beyond its South African gold operations, with a focus on the Wafi-Golpu and Eva Copper projects to drive transformative growth [4]. - The paired focus on these projects positions HMY uniquely in the market, enhancing its growth potential [4]. Group 4: Market Performance and Valuation - HMY shares have increased by 64.9% over the past year, outperforming the Zacks Mining – Gold industry, which rose by 33.4% [7]. - The company is currently trading at a forward 12-month earnings multiple of 5.26, which is approximately 56.3% lower than the industry average of 12.04 [9]. - The Zacks Consensus Estimate for HMY's fiscal 2025 earnings indicates a year-over-year growth of 190.8%, with EPS estimates trending higher over the past 60 days [10].

Core Insights - Harmony Gold Mining Company Limited (HMY) shares have surged 75.4% year-to-date, outperforming the Zacks Mining – Gold industry's growth of 53% and the S&P 500's increase of 5.9% [2] - The stock's performance is attributed to rising gold prices and strong operational results, with peers Gold Fields Limited (GFI) and DRDGOLD Limited (DRD) gaining 83.6% and 59% respectively [2] Performance Metrics - HMY's stock has consistently traded above its 200-day simple moving average (SMA) since January 17, 2025, indicating a bullish trend, despite currently being below the 50-day SMA [5] - The stock trades at a forward price/earnings ratio of 5.05X, approximately 60% below the industry average, highlighting its value appeal [7][16] Growth Drivers - HMY is South Africa's largest gold producer, with an output of approximately 1.56 million ounces in fiscal 2024, supported by projects like Wafi-Golpu and Eva Copper [10] - The Wafi-Golpu project is expected to significantly enhance HMY's reserves, with an estimated 13 million ounces of gold, and is currently in negotiations for a Mining Development Contract [11] - The Eva Copper project, acquired in 2022, is anticipated to produce 55,000-60,000 tons of copper annually and is supported by a conditional grant from the Queensland government [12] Market Conditions - Gold prices have increased by roughly 28% this year, driven by global trade tensions and central bank purchases, with current prices hovering above $3,300 per ounce [13] - HMY reported a 30% increase in average gold prices received, reaching $2,497 per ounce for the nine months ending March 31, 2025, which is expected to enhance profitability [14] Financial Health - HMY's net cash rose approximately 53% to $592 million by the end of Q3 fiscal 2025, indicating strong financial health [15] - The company has a dividend policy to distribute 20% of net free cash to shareholders, with a current dividend yield of 1.3% and a five-year annualized growth rate of about 19.4% [15] Valuation and Earnings Outlook - HMY's stock is considered attractive from a valuation perspective, trading at a significant discount compared to its peers [16] - Earnings estimates for fiscal 2025 have been revised upward over the past 60 days, indicating positive market sentiment [19] Investment Recommendation - The combination of key development projects, favorable gold prices, solid financials, and attractive valuation positions HMY as a strong investment opportunity [21]

Core Insights - Harmony Gold Mining Co. Ltd. (HMY) experienced a 24% increase in all-in-sustaining costs (AISC) in Q3 FY25, with total cash costs rising 22% year over year, indicating pressure on margins due to higher labor and electricity costs [1][6]. Cost Structure - Labor and electricity are the largest components of Harmony's cost structure, contributing significantly to the overall increase in costs [1][6]. - Electricity costs rose by 21% in fiscal 2024 due to higher tariffs from Eskom, and the company is implementing energy-saving initiatives and a renewable energy program, but relief from high electricity costs is not expected in the near term [2]. Peer Comparison - AngloGold Ashanti plc reported a 1% year-over-year increase in AISC to $1,640 per ounce, with managed operations seeing a 2% decline in AISC, while non-managed joint ventures experienced a 37% surge [3]. - Gold Fields Limited reported a 7% year-over-year decline in AISC to $1,625 per ounce, with expectations for AISC in the range of $1,500-$1,650 per ounce for FY25 [4]. Stock Performance and Valuation - HMY shares have increased by 78.1% year to date, outperforming the Zacks Mining – Gold industry, which rose by 53% [5][6]. - The Zacks Consensus Estimate for HMY's fiscal 2025 earnings suggests a year-over-year increase of 190.8%, with EPS estimates trending higher over the past 60 days [7]. - HMY is trading at a forward 12-month earnings multiple of 5.13, representing a 59.4% discount to the industry average of 12.62X, and holds a Value Score of B [8].