Harmony Gold Mining Company Ltd falls amid market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 12 2025
0mins
Should l Buy HMY?
Source: Yahoo Finance
Harmony Gold Mining Company Ltd's stock price dropped by 8.99% as it crossed below the 5-day SMA, reflecting a challenging trading environment.
The decline in Harmony's stock comes amid significant weakness in the broader market, with the Nasdaq-100 down 2.10% and the S&P 500 down 1.27%. Despite gold prices soaring to new heights, exceeding $5,300 an ounce, the overall market sentiment has negatively impacted mining stocks.
This downturn may raise concerns among investors regarding the company's performance in the current market climate, especially as gold prices are expected to fluctuate further in response to the upcoming FOMC meeting.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy HMY?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on HMY
Wall Street analysts forecast HMY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HMY is 20.50 USD with a low forecast of 20.50 USD and a high forecast of 20.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 19.400
Low
20.50
Averages
20.50
High
20.50
Current: 19.400
Low
20.50
Averages
20.50
High
20.50
About HMY
Harmony Gold Mining Company Limited is a mining company. It acquires, explores, develops, and operates gold and uranium properties, through its underground and open-pit mines in South Africa, and its Hidden Valley open-pit mine in Papua New Guinea. Its main products are gold bullion and uranium concentrate, extracted from deep-level and surface mining operations. Its segments include South Africa Underground, Surface, and International. In South Africa, its underground operations are located within the Witwatersrand Basin, which includes one in the Klerksdorp goldfield, three in the West Rand, and five in the Free State, in the southern portion of the Witwatersrand Basin. It also has an open pit mine, Kalgold, on the Kraaipan Greenstone Belt as well as several surface treatment operations. In Papua New Guinea, it operates the Hidden Valley mine and Wafi-Golpu project. In Australia, the Company owns the Eva Copper Mine Project. It also owns CSA Copper Mine in New South Wales, Australia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Harmony Gold Expects H1 2026 Results to Meet Expectations Despite Setbacks
- Operational Challenges: Harmony Gold expects its H1 2026 results to align with expectations despite setbacks, including a mill motor failure and a delay in the final gold shipment at the Hidden Valley operation in Papua New Guinea, which negatively impacted operational performance in FQ2.
- Production Guidance: The company remains confident in achieving its full-year production guidance of 1.4M to 1.5M ounces, despite the operational setbacks, indicating resilience in its production capabilities.
- Mine Integration Progress: Integration activities at the high-grade CSA copper mine are progressing well, with initial efforts focused on incorporating the mine into Harmony's systems, processes, and culture, showcasing the company's commitment to operational efficiency.
- Financial Robustness: Harmony Gold asserts that its fundamentals remain strong, supported by improved safety performance, a healthy balance sheet, investments in higher-quality orebodies, and sustained margin improvements across its portfolio.
See More
Gold Prices Soar to New Heights, Exceeding $5,300 an Ounce Before FOMC Meeting
Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
See More
Spot Silver Reaches All-Time High of $115.13/Oz, Surging More Than 11%
Record High for Silver Prices: Silver prices have reached a record high of $115.13 per ounce, marking a significant increase.
Percentage Increase: The price of silver has risen over 11% recently, contributing to its record-setting value.
See More
Spot silver briefly surpassed $100 per ounce before retreating to $99.93.
- Silver Price Movement: Silver prices rose above $100 per ounce during intraday trading.
- Price Adjustment: Following the peak, prices slightly decreased to $99.93 per ounce.
See More
Gold Prices Surpass $4,700/oz for First Time Amid Weaker Dollar and Trade Tensions
- Gold Price Surge: Gold prices have surpassed $4,700 per ounce for the first time, reaching $4,735.50, a 3.1% increase, reflecting strong investor demand amid a weaker dollar and escalating trade tensions.
- Silver Price Hits Record: Silver prices also reached an all-time high, with March delivery rising 7.9% to $95.54 per ounce, indicating robust performance in the precious metals market and attracting increased investor interest.
- Mining Stocks Rally: Precious metals mining stocks, including Iamgold, Hecla Mining, and Gold Fields, saw significant gains, with Iamgold up 7.5%, showcasing optimism in the precious metals sector and potentially driving future investment inflows.
- Shift in Investor Preference: Rising U.S. debt levels and increased policy unpredictability have led investors to favor gold and silver over currencies and government bonds, reflecting a sustained demand for precious metals as a safe haven.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Harmony Gold Expects H1 2026 Results to Meet Expectations Despite Setbacks
- Operational Challenges: Harmony Gold expects its H1 2026 results to align with expectations despite setbacks, including a mill motor failure and a delay in the final gold shipment at the Hidden Valley operation in Papua New Guinea, which negatively impacted operational performance in FQ2.
- Production Guidance: The company remains confident in achieving its full-year production guidance of 1.4M to 1.5M ounces, despite the operational setbacks, indicating resilience in its production capabilities.
- Mine Integration Progress: Integration activities at the high-grade CSA copper mine are progressing well, with initial efforts focused on incorporating the mine into Harmony's systems, processes, and culture, showcasing the company's commitment to operational efficiency.
- Financial Robustness: Harmony Gold asserts that its fundamentals remain strong, supported by improved safety performance, a healthy balance sheet, investments in higher-quality orebodies, and sustained margin improvements across its portfolio.
See More
Gold Prices Soar to New Heights, Exceeding $5,300 an Ounce Before FOMC Meeting
Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
See More
Spot Silver Reaches All-Time High of $115.13/Oz, Surging More Than 11%
Record High for Silver Prices: Silver prices have reached a record high of $115.13 per ounce, marking a significant increase.
Percentage Increase: The price of silver has risen over 11% recently, contributing to its record-setting value.
See More
Spot silver briefly surpassed $100 per ounce before retreating to $99.93.
- Silver Price Movement: Silver prices rose above $100 per ounce during intraday trading.
- Price Adjustment: Following the peak, prices slightly decreased to $99.93 per ounce.
See More
Gold Prices Surpass $4,700/oz for First Time Amid Weaker Dollar and Trade Tensions
- Gold Price Surge: Gold prices have surpassed $4,700 per ounce for the first time, reaching $4,735.50, a 3.1% increase, reflecting strong investor demand amid a weaker dollar and escalating trade tensions.
- Silver Price Hits Record: Silver prices also reached an all-time high, with March delivery rising 7.9% to $95.54 per ounce, indicating robust performance in the precious metals market and attracting increased investor interest.
- Mining Stocks Rally: Precious metals mining stocks, including Iamgold, Hecla Mining, and Gold Fields, saw significant gains, with Iamgold up 7.5%, showcasing optimism in the precious metals sector and potentially driving future investment inflows.
- Shift in Investor Preference: Rising U.S. debt levels and increased policy unpredictability have led investors to favor gold and silver over currencies and government bonds, reflecting a sustained demand for precious metals as a safe haven.
See More
