Harmony Gold Mining HMY
Harmony Gold Mining is a South African gold mining company with operations in South Africa and Papua New Guinea, selling its production on the global market at market prices. Harmony Gold shows exceptional fundamentals (ROE 48.05%, operating margin 47.17%, P/E 6.73), but its 198.8% earnings growth is clearly at a gold cycle peak, with the metal price falling and elevated governance risk in South Africa.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Harmony Gold Mining is a South African gold mining company with operations in South Africa and Papua New Guinea, selling its production on the global market at market prices. Harmony Gold shows exceptional fundamentals (ROE 48.05%, operating margin 47.17%, P/E 6.73), but its 198.8% earnings growth is clearly at a gold cycle peak, with the metal price falling and elevated governance risk in South Africa.
Score by category
| Category | Score |
|---|---|
| Financial health | 8.2 |
| Quality / Moat | 7.7 |
| Valuation | 8.1 |
| Growth | 7.1 |
| Dividend | 6.6 |
| Momentum | 4.9 |
| Risk & Context | 4.4 |
OVERALL SCORE: 7.0/10
Context and risks
Elevated governance risk in South Africa, with a history of state intervention and weak minority protection. Additionally, the recent gold price drop and geopolitical volatility directly affect its main product.
News considered in the analysis
- Harmony Gold Mining Co Ltd (HMY) (FY 2026) Earnings Call Highlights: Record Revenue and ... — Resultados récord impulsados por el alto precio del oro, ya reflejados parcialmente en las notas cuantitativas.
- Harmony Gold’s Earnings Rise on Higher Gold Prices — Confirma la tendencia de beneficios al alza por el entorno del oro.
- Harmony Gold Mining H2 Earnings Call Highlights — Detalles de la llamada de resultados, sin información nueva material.
- Why Harmony Gold Mining Stock Plummeted by Almost 12% This Week — Caída semanal significativa, probablemente por la caída del precio del oro y toma de beneficios.
- Harmony Gold (HMY) Upgraded to Buy: Here's What You Should Know — Upgrade de analista, refuerza la visión positiva pero sin impacto fundamental nuevo.
Verdict: Hold; valuation is attractive but cycle and governance risks limit upside potential.
Main risk: The main risk is a fall in the gold price, which would reverse record margins and earnings growth, compounded by governance risk in South Africa.
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