Morgan Stanley Upgrades Harmony Gold (HMY) to Equal Weight Following Year of Underperformance

Group 1 - Harmony Gold Mining Company Ltd. (NYSE:HMY) is considered one of the most undervalued gold stocks according to analysts [1] - Morgan Stanley upgraded Harmony Gold from Underweight to Equal Weight, raising the price target to ZAR 330 from ZAR 265, based on the stock's valuation after a year of underperformance [1] - A major event risk has been resolved with the public release of updated capital guidance for the Eva project [1] Group 2 - Harmony Gold is successfully integrating the newly acquired CSA copper mine in Australia, with specific guidance expected during the upcoming interim results [2] - Progress is being made at the Eva Copper Project, with a newly appointed contractor scheduled to mobilize to the site in the March 2026 quarter [2] - The leadership team is reviewing the capital structure to fund long-term growth projects while ensuring competitive shareholder returns [3] Group 3 - Detailed operational and financial figures for Harmony Gold will be officially released on March 11 this year [3] - The company explores, extracts, and processes mineral properties in South Africa, Papua New Guinea, and Australia, focusing on gold, uranium, silver, and copper deposits [3]