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Harmony Gold Mining Company Limited (HAR.JO)

ZAc25,849.00 +749.00 (+2.98%)
ZA JNB Basic Materials Gold
Address Randfontein Office park 1759
Randfontein, GP, ZA
CEO Beyers Nel
IPO 2000-01-04
ISIN ZAE000015228

Explore sections of this company profile

Also trades on Johannesburg Stock Exchange · HAR.JO (ZAc) New York Stock Exchange · HMY (USD) Other OTC · HGMCF (USD)
Description

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of mineral properties in South Africa, Papua New Guinea, and Australia. The company explores for gold, uranium, silver, and copper deposits. It has nine underground operations in the Witwatersrand Basin; the Kraaipan Greenstone Belt; and various surface source operations in South Africa. In addition, the company owns interests in the Hidden Valley, an open-pit gold and silver mine; and the Wafi-Golpu project located in Morobe Province in Papua New Guinea. Further, it holds interest in Eva Copper Project located in Queensland, Australia. Harmony Gold Mining Company Limited was incorporated in 1950 and is based in Randfontein, South Africa.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
ZAc25,849.00 +749.00 (+2.98%)
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Volume Profile
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Liquidity & share structure
Average Volume
4M
Beta
0.70
Float Shares
544.35M
Free Float %
87.1%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.60% +4.32% +12.41% -17.48% -11.35% -12.15% +15.77% +220.26% +300.09% +545.40% +681.29%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (9 ratings, all time) Hold
Price Targets & DCF
Current price
25,849.00
DCF (Unlevered) 21,368.03 -17.3%
DCF (Levered) 34,064.21 +31.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 71% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 4 0
Hold 2 -1
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
4.51
Safe zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
5 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers ★ Strong MOAT
  • Revenue growth Gold: +36.5%
    +20.4% Q4'25: +53.6% (vs Q4'23)
  • EPS growth Gold: +64.9%
    +67.7% Q4'25: +61.9% (vs Q4'23)
  • FCF margin FCF growth · Gold: +77.7%
    +17.0% Q4'25: +11.7% (vs Q4'23)
  • EBIT margin Gold: +25.8%
    +29.0% Q4'25: +41.6% (vs Q4'23)
  • ROIC Gold: +11.0%
    +39.1% Q4'25: +98.3% (vs Q4'23)
  • Share dilution Gold: -3.9%
    -0.1% Q4'25: +1.8% (vs Q4'23)
  • Debt / EBITDA Net debt/EBITDA · Gold: -0.09×
    0.08× Q4'25: 0.14× (vs Q4'23)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.69) × ERP
WACC = 99% × Ke + 1% × Kd (31.3%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 21,368.03 Current price: 25,849.00
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Jun 2015
actual
Jun 2016
actual
Jun 2017
actual
Jun 2018
actual
Jun 2019
actual
Jun 2020
actual
Jun 2021
actual
Jun 2022
actual
Jun 2023
actual
Jun 2024
actual
Jun 2025
actual
Jun 2026
6 Rev. Ana.
4 EPS Ana.
Jun 2027
5 Rev. Ana.
4 EPS Ana.
Jun 2028
6 Rev. Ana.
2 EPS Ana.
Jun 2029
4 Rev. Ana.
1 EPS Ana.
Jun 2030
3 Rev. Ana.
1 EPS Ana.
Revenue
16.54B
est: 15.88B (+4.2%)
18.69B
est: 18.89B (-1.1%)
18.43B
est: 19.24B (-4.2%)
21.85B
est: 20.66B (+5.8%)
26.93B
est: 27.08B (-0.6%)
29.25B
est: 29.22B (+0.1%)
41.73B
est: 41.91B (-0.4%)
42.65B
est: 42.69B (-0.1%)
49.28B
est: 47.65B (+3.4%)
61.38B
est: 62.69B (-2.1%)
73.90B
est: 76.18B (-3.0%)
99.25B
94.94B – 111.20B
+30.3% YoY
123.30B
116.67B – 129.36B
+24.2% YoY
127.92B
126.13B – 129.70B
+3.7% YoY
126.76B
120.53B – 137.00B
-0.9% YoY
122.88B
116.84B – 132.81B
-3.1% YoY
EBITDA
-2.43B
est: 3.78B (-164.3%)
1.86B
est: 4.49B (-58.5%)
364.44M
est: 4.58B (-92.0%)
-1.81B
est: 4.91B (-136.8%)
1.88B
est: 6.44B (-70.8%)
3.62B
est: 6.95B (-47.9%)
10.92B
est: 9.97B (+9.6%)
3.34B
est: 10.15B (-67.1%)
11.05B
est: 11.33B (-2.4%)
16.52B
est: 14.91B (+10.8%)
26.27B
est: 18.12B (+45.0%)
23.60B
22.58B – 26.44B
+30.3% YoY
29.32B
27.74B – 30.76B
+24.2% YoY
30.42B
29.99B – 30.84B
+3.7% YoY
30.14B
28.66B – 32.58B
-0.9% YoY
29.22B
27.78B – 31.58B
-3.1% YoY
EBIT
-5.08B
est: 2.54B (-300.3%)
1.89B
est: 3.02B (-37.3%)
86.00M
est: 3.07B (-97.2%)
-4.38B
est: 3.30B (-232.6%)
-2.17B
est: 4.32B (-150.2%)
66.00M
est: 4.67B (-98.6%)
7.04B
est: 6.69B (+5.2%)
-340.00M
est: 6.82B (-105.0%)
7.60B
est: 7.61B (-0.1%)
11.88B
est: 10.01B (+18.6%)
21.42B
est: 12.17B (+76.1%)
15.85B
15.16B – 17.76B
+30.3% YoY
19.69B
18.63B – 20.66B
+24.2% YoY
20.43B
20.14B – 20.71B
+3.7% YoY
20.24B
19.25B – 21.88B
-0.9% YoY
19.62B
18.66B – 21.21B
-3.1% YoY
Net Income
-4.86B
est: -1.50B (-223.0%)
946.47M
est: 1.28B (-26.1%)
221.27M
est: 1.83B (-87.9%)
-4.43B
est: 2.19B (-302.4%)
-2.62B
est: 1.25B (-310.7%)
-878.00M
est: 705.44M (-224.5%)
5.09B
est: 6.45B (-21.2%)
-1.05B
est: 3.13B (-133.7%)
4.82B
est: 4.82B (+0.0%)
8.59B
est: 8.59B (+0.0%)
14.38B
est: 18.75B (-23.3%)
27.09B
22.07B – 32.10B
+44.4% YoY
45.24B
36.22B – 47.47B
+67.0% YoY
42.67B
40.81B – 44.96B
-5.7% YoY
41.87B
39.19B – 46.26B
-1.9% YoY
44.28B
41.45B – 48.93B
+5.8% YoY
SGA
404.86M
est: 444.94M (-9.0%)
414.08M
est: 529.47M (-21.8%)
494.60M
est: 539.30M (-8.3%)
869.21M
est: 579.04M (+50.1%)
737.77M
est: 758.82M (-2.8%)
611.00M
est: 818.87M (-25.4%)
1.25B
est: 1.17B (+6.0%)
984.00M
est: 1.20B (-17.7%)
1.55B
est: 1.34B (+16.1%)
1.29B
est: 1.76B (-26.3%)
2.56B
est: 2.13B (+20.0%)
2.78B
2.66B – 3.12B
+30.3% YoY
3.46B
3.27B – 3.63B
+24.2% YoY
3.58B
3.53B – 3.63B
+3.7% YoY
3.55B
3.38B – 3.84B
-0.9% YoY
3.44B
3.27B – 3.72B
-3.1% YoY
EPS
-11.18
est: -2.39 (-367.5%)
2.22
est: 2.04 (+9.1%)
0.82
est: 2.90 (-71.7%)
-9.93
est: 3.48 (-385.4%)
-5.01
est: 1.98 (-352.9%)
-1.64
est: 1.12 (-246.2%)
8.42
est: 10.26 (-17.9%)
-1.72
est: 4.97 (-134.6%)
7.80
est: 8.05 (-3.1%)
13.86
est: 19.52 (-29.0%)
23.13
est: 30.78 (-24.8%)
42.63
35.08 – 51.04
+38.5% YoY
67.74
57.58 – 75.48
+58.9% YoY
68.18
64.88 – 71.48
+0.6% YoY
66.56
62.30 – 73.55
-2.4% YoY
70.40
65.90 – 77.79
+5.8% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-28 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-27 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-26 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-25 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-22 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-21 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-20 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-19 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-18 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-15 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-14 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-13 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-12 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-11 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-08 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-07 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-06 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-05 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-05-04 A 4/5 5/5 5/5 5/5 2/5 3/5 2/5
2026-04-30 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-04-29 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-28 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-24 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-23 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-22 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-21 B+ 3/5 4/5 5/5 5/5 1/5 2/5 2/5
2026-04-20 B+ 3/5 4/5 5/5 5/5 1/5 2/5 2/5
2026-04-17 B+ 3/5 4/5 5/5 5/5 1/5 2/5 2/5
2026-04-16 B+ 3/5 4/5 5/5 5/5 1/5 2/5 2/5
2026-04-15 B+ 3/5 4/5 5/5 5/5 1/5 2/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
65.35B
OE per share TTM
103.64
Owner's Yield
35.37%
Maintenance CapEx ratio
54.17%
Maint CapEx / Avg PPE
78.6%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
623.7K
Shares Outstanding
624.83M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Johannes J. van Heerden Chief Development Officer 18M male
Beyers Nel Group Chief Executive Officer & Executive Director 17M male
Boipelo Pride Lekubo Financial Director & Executive Director 16M female
Harry Ephraim Mashego Executive Director of Stakeholder Relations & Corporate Affairs and Executive Director 13M male
Anton Z. Buthelezi BTech Chief People Officer 12M male
Marian Van Der Walt Chief Corporate Officer 12M female
Urishanie Govender Chief Sustainability Officer 5M
Floyd Masemula Deputy Group Chief Executive Officer 4M male
Jaco Boshoff MGSSA MSAIMM Pr Sci Nat Chief Operating officer of Australasia 4M male
Jared Coetzer Head of Investor Relations male
Hendrik Kotze Chief Technology & Information Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits