Harmony Gold Mining (NYSE:HMY) Issues Quarterly Earnings Results, Misses Expectations By $0.34 EPS

Harmony Gold Mining (NYSE:HMY) posted its earnings results on Thursday. The mining company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.34), FiscalAI reports. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $3.20 billion.

Here are the key takeaways from Harmony Gold Mining’s conference call:

• Positive Sentiment: Harmony delivered record FY2026 results, with revenue up 34% to nearly ZAR100 billion, net profit up 102% to ZAR30 billion, headline EPS up 87% to ZAR43.63, and adjusted free cash flow up 54% to ZAR17 billion.
• Positive Sentiment: Higher gold prices and cost discipline expanded the gold all-in sustaining cost margin to 42% from 31%, while the company maintained a near-unlevered balance sheet with ZAR17.1 billion of liquidity and net debt/EBITDA of just 0.02x. Harmony also declared a record FY2026 dividend of ZAR12.80 per share.
• Positive Sentiment: Copper growth is progressing through CSA and Eva Copper. CSA is targeted to ramp from roughly 29,000 tonnes on a full-year FY2026 basis to 40,000 tonnes by FY2029, while Eva Copper remains targeted for first production by the end of calendar 2028 and is expected to produce about 60,000 tonnes of copper annually over at least 15 years.
• Negative Sentiment: FY2027 is expected to be a major investment year, including ZAR14.4 billion for gold assets, ZAR2.1 billion for CSA, and $650 million-$680 million for Eva Copper. Eva’s schedule and spending remain subject to environmental approvals related to an endangered species, while Moab Khotsong’s upcoming multi-year ore gap is expected to pressure volumes and unit costs.
• Neutral Sentiment: FY2027 guidance calls for 1.3-1.4 million ounces of gold at ZAR1.30 million-ZAR1.395 million per kilogram in all-in sustaining costs, plus 28,000-30,000 tonnes of CSA copper at $2.55-$2.65 per pound. Management said the worst of the current hedge-related losses is likely behind the company, but it did not disclose the price assumptions underlying its remaining hedge liabilities.

Harmony Gold Mining Price Performance

Shares of NYSE HMY opened at $21.10 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $17.22 and a 200-day moving average price of $17.36. Harmony Gold Mining has a 1 year low of $12.58 and a 1 year high of $26.06.

Analyst Upgrades and Downgrades

HMY has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Harmony Gold Mining currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Harmony Gold Mining

Several large investors have recently added to or reduced their stakes in HMY. Advisory Services Network LLC acquired a new position in Harmony Gold Mining during the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Harmony Gold Mining in the fourth quarter valued at approximately $26,000. Osaic Holdings Inc. boosted its position in shares of Harmony Gold Mining by 22.1% during the second quarter. Osaic Holdings Inc. now owns 7,436 shares of the mining company’s stock valued at $104,000 after buying an additional 1,346 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Harmony Gold Mining during the second quarter valued at approximately $145,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Harmony Gold Mining by 13.9% during the second quarter. EverSource Wealth Advisors LLC now owns 10,516 shares of the mining company’s stock valued at $147,000 after buying an additional 1,280 shares during the last quarter. Institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.