Harmony Gold Mining's Earnings and Revenues Increase in FY24

Core Insights - Harmony Gold Mining Company Limited (HMY) reported adjusted earnings of 99 cents per share for fiscal 2024, a 120% increase from 45 cents per share a year ago [1] - Revenues for fiscal 2024 rose 18% year over year to $3,282 million, with average gold prices received increasing by 11% to $1,999 per ounce [1] Production and Costs - Gold production for fiscal 2024 was 1,561,815 ounces, reflecting a 6% year-over-year increase [2] - Cash operating costs per ounce decreased by 2% year over year to $1,262, while all-in-sustaining costs fell 4% to $1,500 per ounce [2] Financial Overview - As of June 30, 2024, cash and cash equivalents increased by approximately 70% year over year to $258 million [3] - Operating free cash flow surged 101% year over year to $681 million [3] - Long-term debt decreased by around 67% year over year to $98 million at the end of fiscal 2024 [3] Outlook and Capital Expenditure - Harmony Gold anticipates producing between 1.4 million and 1.5 million ounces of gold in fiscal 2025 [4] - Projected capital expenditures for fiscal 2025 are expected to rise to $592 million due to investments in major high-grade and surface retreatment projects [4] Stock Performance - Shares of Harmony Gold have increased by 108.8% over the past year, outperforming the industry average rise of 33.4% [5]