SENS-AI
HAR Trading Statement Bullish

HARMONY GOLD MINING COMPANY LIMITED - Trading statement for the six months ended 31 December 2025

Harmony Gold Mining Company Limited
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What this filing means

Harmony Gold expects HEPS to rise by 11% to 17% for H1FY26, driven by a 36% higher realized gold price, though this is partially offset by rising production and acquisition-related finance costs.

Bull case

  • Earnings per share (EPS) are projected to increase by 21% to 30%, reaching between 1527 and 1638 South African cents.
  • Headline earnings per share (HEPS) are expected to grow by 11% to 17%, driven by a significant 36% increase in the average gold price received.

Bear case

  • Earnings growth is heavily supplemented by non-operational factors, including a reversal of impairment and foreign exchange translation gains on a USD-denominated bridge facility.
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Category
Trading Statement
Published
Mar 9, 2026

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