Harmony Gold Confirms FY26 Guidance and Cash-Flow Strength Despite H1 Operational Disruptions
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Harmony Gold Mining ( (HMY) ) has provided an update.
On 3 February 2026, Harmony Gold Mining said it expects solid financial results for the six months ended 31 December 2025, as elevated gold prices and strong free cash flow offset temporary operational setbacks including a mill motor failure and deferred gold shipment at Hidden Valley, as well as lower metallurgical recoveries linked to an industry-wide cyanide shortage in South Africa. Despite these headwinds, the company reiterated its full-year 2026 production guidance of 1.4–1.5 million ounces of gold at an all-in-sustaining cost of R1,150,000–R1,220,000 per kilogram and an underground recovered grade above 5.8g/t, while reporting good progress on integrating the high-grade CSA copper mine and advancing the Eva Copper Project, reviewing its capital structure to support long-term growth, and preparing to publish fully integrated interim results on 11 March 2026 alongside active engagement with investors at the upcoming Investing in African Mining Indaba.
The most recent analyst rating on (HMY) stock is a Buy with a $27.00 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 driven primarily by strong financial performance (profitability, low leverage, and solid cash generation) and supportive bullish technicals with price above all key moving averages. The rating is tempered by only moderate valuation support (P/E ~18 and low dividend yield) and earnings-call risks around rising costs and operational/safety headwinds.
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-based precious metals producer focused primarily on gold mining, with additional exposure to copper through its CSA mine in New South Wales, Australia and the Eva Copper Project. Listed on the JSE, the company operates a portfolio of underground and open-pit assets, and is positioning itself towards higher-quality orebodies and copper growth projects while maintaining a strong balance sheet and cash-generative profile.
Average Trading Volume: 4,325,725
Technical Sentiment Signal: Buy
Current Market Cap: $14.29B
Learn more about HMY stock on TipRanks’ Stock Analysis page.
