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

Harmony Gold Mining (NYSE:HMY) announced its quarterly earnings results on Thursday. The mining company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.34), FiscalAI reports. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate 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 Stock Performance

Shares of HMY opened at $22.44 on Thursday. The company’s fifty day moving average is $17.14 and its 200 day moving average is $17.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. Harmony Gold Mining has a fifty-two week low of $12.58 and a fifty-two week high of $26.06.

Analysts Set New Price Targets

Several research firms have commented on HMY. Weiss Ratings reissued a “buy (b-)” rating on shares of Harmony Gold Mining in a report on Friday, July 17th. Wall Street Zen upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Finally, Zacks Research raised Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its position in shares of Harmony Gold Mining by 210.4% during the 1st quarter. Jones Financial Companies Lllp now owns 18,165 shares of the mining company’s stock valued at $268,000 after buying an additional 12,312 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Harmony Gold Mining by 215.7% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after acquiring an additional 3,806,468 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Harmony Gold Mining in the second quarter worth about $171,000. Arrowstreet Capital Limited Partnership bought a new stake in Harmony Gold Mining during the second quarter worth approximately $424,000. Finally, EverSource Wealth Advisors LLC increased its stake in 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 worth $147,000 after acquiring an additional 1,280 shares during the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.