SENS-AI
HAR Results Bullish

HARMONY GOLD MINING COMPANY LIMITED - INTERIM RESULTS FOR THE SIX-MONTH PERIOD ENDED 31 DECEMBER 2025 AND INTERIM DIVIDEND DECLARATION

Harmony Gold Mining Company Limited
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What this filing means

Harmony Gold reported a 24% increase in interim EPS and declared a record 530c dividend driven by soaring gold prices, though declining production volumes and surging unit costs highlight underlying operational pressures.

Bull case

  • Operating profit surged 61% to R16.1 billion, fueled by a 36% increase in the average gold price received.
  • The company declared a record interim dividend of 530 SA cents, backed by a revised policy to pay out up to 50% of net free cash.

Bear case

  • Underlying operational efficiency weakened, with a 9% drop in group gold production and an 11% decrease in underground recovered grades.
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Category
Results
Published
Mar 11, 2026

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