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An announcement from Harmony Gold Mining ( (HMY) ) is now available.
Harmony Gold Mining Company reported a solid operating performance for the nine months to 31 March 2026, highlighted by a strong third quarter from assets including Mponeng, Hidden Valley and Tshepong North, and its 11th consecutive year on track to meet production guidance. The company operates across South Africa and abroad in gold and copper, and has seen its MSCI ESG rating upgraded to A, supported by an expanding renewable energy programme and high levels of water recycling.
For the nine‑month period, gold and copper revenue rose 34% to R68.4 billion as the average gold price received increased 39%, driving an 87% rise in free cash flow and a swing from net debt at 31 December 2025 to a net cash position of R1.3 billion. Group gold output fell 3% in line with plan, costs were contained despite higher oil and diesel prices, and Harmony maintained liquidity of nearly R19.7 billion while advancing key growth projects, including the Eva copper project, CSA copper mine optimisation and South African extensions at Moab Khotsong and Mponeng.
The company is managing a planned period of lower output at Moab Khotsong as it advances the Zaaiplaats extension, while using the CSA acquisition to bolster copper volumes and diversify earnings. Harmony also reinforced its capital allocation discipline through a revised dividend policy, under which it paid a record interim dividend in April 2026, signalling confidence in sustained cash generation and ongoing shareholder returns despite operational challenges and two fatalities in the third quarter.
The most recent analyst rating on (HMY) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on Harmony Gold Mining stock, see the HMY Stock Forecast page.
Spark’s Take on HMY Stock
According to Spark, TipRanks’ AI Analyst, HMY is a Outperform.
The score is supported by strong financial fundamentals (profitability, low leverage, solid cash generation) and a cheap valuation (low P/E). This is partially offset by weak technical positioning (below key moving averages with negative MACD and sub-50 RSI). Earnings-call commentary is constructive with upgraded guidance, adding support but not enough to overcome the current technical weakness.
To see Spark’s full report on HMY stock, click here.
More about Harmony Gold Mining
Harmony Gold Mining Company Limited is a South African gold and copper mining company with operations spanning underground, surface and tailings retreatment assets, as well as international operations such as Hidden Valley and the CSA copper mine. The group focuses on higher-grade, higher-margin orebodies and an expanding copper portfolio, positioning itself as a leveraged play on precious and base metals prices while maintaining a strong emphasis on safety and sustainability.
Average Trading Volume: 5,281,279
Technical Sentiment Signal: Buy
Current Market Cap: $9.99B
See more data about HMY stock on TipRanks’ Stock Analysis page.