Harmony Gold flags double-digit profit surge on higher gold price and MAC Copper deal
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Harmony Gold Mining ( (HMY) ) has shared an announcement.
Harmony Gold Mining Company Limited, a South African-based gold producer with growing copper exposure, reported that its underlying fundamentals remained strong across its portfolio during the six months ended 31 December 2025. The company continues to emphasise disciplined capital allocation, selective and affordable growth, and “Mining with Purpose” to translate elevated metal prices into long-term value and responsible shareholder returns.
On 9 March 2026, Harmony issued a trading statement indicating that basic and headline earnings for the first half of FY26 will be materially higher than a year earlier, driven chiefly by a 36% jump in the rand gold price received and related reversal of impairments at the Tshepong North unit. Earnings gains were partly offset by higher production, tax, depreciation, finance and derivative costs linked to rising input prices and the MAC Copper acquisition, but EPS is still expected to rise 21%–30% and HEPS 11%–17%, underscoring stronger profitability ahead of the interim results release due on 11 March 2026.
The company highlighted additional upside from favourable foreign-exchange translation on its U.S. dollar bridge facility, even as copper and silver streaming arrangements and acquisition costs weighed on results. For shareholders, the guidance signals that Harmony is successfully converting higher commodity prices and recent portfolio additions into improved earnings, albeit with increased cost complexity and financial leverage that will remain key monitoring points as the MAC Copper integration progresses.
The most recent analyst rating on (HMY) stock is a Buy with a $22.50 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 precious metals producer primarily focused on underground and open-pit gold mining, with an expanding presence in copper through acquisitions such as MAC Copper. Listed on the JSE and operating assets in South Africa and abroad, the group targets portfolio growth, wider margins and de‑risked cash flows by leveraging higher gold prices and integrating new copper scale.
Average Trading Volume: 4,696,940
Technical Sentiment Signal: Buy
Current Market Cap: $11.93B
For an in-depth examination of HMY stock, go to TipRanks’ Overview page.
