Core Viewpoint - The recent U.S.-China trade deal has led to a dip in gold prices from historic highs, yet gold stocks remain a strong hedge against market volatility, benefiting from the commodity's peak [1]. Gold Stocks Overview - Several gold stocks have been recognized on the Zacks Rank 1 (Strong Buy) list, indicating their strong performance amid the commodity's historic peak [2]. Company Analysis: Agnico Eagle Mines (AEM) - Agnico Eagle Mines operates one of Canada's largest gold mines and has seen a 10% dip in stock price, which is considered an intriguing buying opportunity as the stock has increased over 30% year-to-date and 100% over the last three years [4][5]. - The company is projected to produce over 3 million ounces of gold in 2024, with gold reserves totaling 1.27 million tons [5]. Company Analysis: Equinox Gold (EQX) - Equinox Gold is trading at $6 per share, with a favorable risk-to-reward profile due to its growth potential in gold, copper, and silver mining [7]. - The company expects high double-digit growth, trading at 6X forward earnings and under 2X sales, with EPS projected to increase by 400% in fiscal 2025 and another 24% in FY26 [8]. Company Analysis: Harmony Gold (HMY) - Harmony Gold, South Africa's largest gold miner, has seen its stock triple in the last three years, with a year-to-date increase of over 70% despite an 11% drop in May [9][10]. - The company achieved a record operating free cash flow of $579 million in Q1 and provided a record interim dividend payout of $78 million, with a current annual dividend yield of 1.36% [12]. Investment Opportunity - The current market conditions present a "buy the dip" opportunity for these highly ranked gold stocks, which are expected to benefit from the historic surge in gold prices despite improved U.S. trade relations bringing more market stability [13].

| US AMZN | | | | | | | --- | --- | --- | --- | --- | --- | | AMD | 109.46 | ↑ +6.62 (+6.44%) 503.38万股 | 1774.85亿 | -9.38% | 를 … | | us AMD | | | | | | | Meta | 625.54 | ↓ +33.05 (+5.58%) 267.35万股 | 1.57万亿 | +6.93% | 를 … | | US META | | | | | | | 特斯拉 | 314.00 | ↓ +15.74 (+5.28%) 1423.05万股 | 1.01万亿 | -22.25% | == | | US TSLA | | | | | | | 高通 | 152.77 | ↓ +7.59 (+5.23%) 47.27万股 | 1677.41亿 | -0.02% | 를 … | | us QCOM | | | | | | | 英伟达 | 121.96 | ↓ +5.31 (+4.55%) 2495.12万股 | 2.98万亿 | -9.17% | = == | | us NVDA | ...

Group 1 - U.S. tech stocks experienced a significant pre-market surge, with Apple and Nvidia both rising approximately 5% [1] - Gold stocks faced a notable decline, with Harmony Gold dropping around 10% [1]

Industry Overview - Key precious metals, particularly gold, have experienced significant price increases, with gold surging over 41% in the year leading to late April 2025, driven by investor uncertainty and geopolitical volatility [1] - Silver and platinum have also outperformed the broader market during the same period [1] Investment Opportunities - Investors can capitalize on the success of precious metals through targeted investments in mining companies, especially those focused on gold production, which has shown strong momentum [2] - Three gold mining stocks with robust momentum include Harmony Gold Mining Co. Ltd., Perpetua Resources Corp., and Eldorado Gold Corp. [3] Harmony Gold Mining - Harmony Gold Mining has achieved 81% year-to-date growth, benefiting from rising gold prices and strong operational performance [4] - The company reported a 19% year-over-year increase in gold revenues to nearly $2 billion in the first half of fiscal 2025, with operating free cash flow reaching close to $600 million, a 46% improvement from the previous year [5] - Harmony is diversifying its operations with new copper projects in Queensland, Australia, which will help mitigate production risks [6] Perpetua Resources - Perpetua Resources has a stock forecast indicating a potential upside of 67.26%, with shares currently priced at $14.05 [8] - The Stibnite mine, designated as a transparency project by the White House, is expected to reduce regulatory hurdles and enhance domestic mineral supply, particularly in antimony, which is critical for military and industrial applications [9] Eldorado Gold - Eldorado Gold has a stock forecast with a 12-month price target of $20.38, indicating a 9.19% upside potential [10] - The company is expected to see a 33% production surge by 2027, driven by the Skouries project and strong cash flow, with a 42% year-over-year revenue increase in the latest quarter [11][12]

Core Viewpoint - Gold stocks are gaining traction as a hedge against market volatility caused by ongoing tariff disputes, with significant price increases observed in several gold mining companies [1][3][4]. Gold Market Performance - Gold prices increased by over 3% as investors sought safe-haven assets amid stock market sell-offs triggered by tariffs [3][4]. - Gold stocks, particularly those of companies with strong operational performances, have rallied due to the direct impact of rising gold prices on their financials [5]. Company Highlights - Newmont Corporation, the world's second-largest gold company, saw its shares rise by 8.8% with a market capitalization of $52.2 billion [2]. - Harmony Gold reported a 19% increase in revenue and a 33% surge in net income, despite a 4% drop in production, with cash flow from operations increasing by 46% year-over-year [6]. - AngloGold Ashanti's revenue jumped 26% in 2024, leading to a net profit of $1 billion compared to a net loss of $222 million in 2023, with a dividend yield of 4.1% [7]. - Iamgold Corp experienced a 43% increase in gold production and a 65% rise in revenue to $1.6 billion in 2024, projecting further growth in 2025 [10]. - Newmont Mining reported a net income of $3.4 billion in 2024, recovering from a net loss of $2.5 billion in 2023, and generated $6.3 billion in cash flow from operations [11]. Future Outlook - The year 2025 is anticipated to be significant for gold mining companies, with expectations of continued growth driven by rising gold prices amid ongoing trade tensions [12].

Harmony Gold Mining Company Limited (NYSE:HMY) Q2 2025 Earnings Conference Call March 4, 2025 3:00 AM ET Company Participants Beyers Nel - Chief Executive Officer Boipelo Lekubo - Financial Director Jared Coetzer - Investor Relations Conference Call Participants Arnold Van Graan – Nedbank Adrian Hammond - SBG René Hochreiter - NOAH Capital Felicity Robson - Bank of America Beyers Nel Good morning, everybody. My name is Beyers Nel, and it is a privilege for me to present my first set of results to you in my ...

© Harmony Eva Copper - The information in this announcement that relates to Mineral Resources or Ore Reserves has been extracted from the Copper Mountain Mining Corporation Mineral Reserve and Resource Estimate (as at 1 August 2022). H1FY25 RESULTS Beyers Nel, CEO 4 March 2025 | JSE ticker code | HAR | | --- | --- | | NYSE ticker code | HMY | PRIVATE SECURITIES LITIGATION REFORM ACT SAFE HARBOUR STATEMENT AND DISCLAIMER FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within ...

Valuation and Performance - Harmony Gold Mining Company Limited (HMY) is currently trading at a forward price/earnings ratio of 6.8X, which represents a 46.7% discount compared to the Zacks Mining – Gold industry's average of 12.75X. The company has a Value Score of A [1] - HMY's shares have surged 50.6% year to date, outperforming the industry's rise of 21.3% and the S&P 500's increase of 25.7% [4] Technical Indicators - HMY stock surpassed its 200-day simple moving average (SMA) on November 18, 2024, although it is currently trading below the 50-day SMA. The 50-day SMA remains above the 200-day SMA, indicating a bullish trend [7] Production and Development Projects - HMY is South Africa's largest gold producer by volume, with production of approximately 1.56 million ounces in fiscal 2024. The company is advancing key projects, including the Wafi-Golpu copper-gold project in Papua New Guinea and the Eva Copper project in Australia [10][11] - The Wafi-Golpu project has an estimated reserve of 13 million ounces of gold and is considered a potential game-changer for the company [10] Financial Performance - HMY's adjusted earnings surged 120% year over year in fiscal 2024, driven by an 11% rise in average gold prices. In the first quarter of fiscal 2025, the average gold price received was approximately $2,356 per ounce, reflecting a 25% increase [12] - The company's net cash increased by roughly 129% to $362 million at the end of the first quarter of fiscal 2025, with solid liquidity of $910 million [13] Cost Pressures - HMY is facing higher costs, with all-in sustaining costs rising by approximately 19% in the first quarter of fiscal 2025 due to increased labor costs and electricity tariffs. Total cash costs also climbed 18% year over year [14] Earnings Estimates - Earnings estimates for HMY for fiscal 2025 have been declining over the past 60 days, while the Zacks Consensus Estimate for fiscal 2026 has been revised upward during the same period [15]

Core Insights - The article compares Harmony Gold (HMY) and Franco-Nevada (FNV) to determine which stock is a better undervalued investment option for investors interested in mining [1] Valuation Metrics - HMY has a forward P/E ratio of 8.16, significantly lower than FNV's forward P/E of 40.54 [5] - HMY's PEG ratio is 0.50, indicating a favorable valuation relative to its expected earnings growth, while FNV's PEG ratio is 22.03 [5] - HMY's P/B ratio stands at 3.05, compared to FNV's P/B of 4.34, suggesting HMY is more attractive in terms of market value versus book value [6] Analyst Outlook - HMY currently holds a Zacks Rank of 1 (Strong Buy), while FNV has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision activity for HMY [3] - HMY's solid earnings outlook and favorable valuation metrics position it as the superior value option compared to FNV [7]

Group 1 - Harmony Gold (HMY) is a notable stock in the Basic Materials sector, which consists of 235 individual stocks and currently holds a Zacks Sector Rank of 11 [2] - The Zacks Rank system focuses on earnings estimates and revisions, with Harmony Gold currently rated as 1 (Strong Buy), indicating a positive earnings outlook [3] - Year-to-date, Harmony Gold has returned 76.3%, significantly outperforming the Basic Materials sector average return of -0.8% [4] Group 2 - New Gold (NGD) is another stock in the Basic Materials sector that has performed well, with a year-to-date return of 88.4% [4] - The Mining - Gold industry, which includes Harmony Gold, has an average gain of 25.5% this year, positioning HMY favorably within its industry [5] - Both Harmony Gold and New Gold are expected to continue their strong performance in the Basic Materials sector [6]