Analyst Consensus ?
ConsensusHold10 ratings
Bullish110.0%
Neutral770.0%
Bearish220.0%
Harmony Gold Mining Company Limited · HMY · FY2021 Q4 · Calendar Q3 2021
Harmony Gold: Growth investment rises as balance sheet strengthens
The supplied analysis supports a constructive near-term operating thesis: Mponeng integration, high-grade projects, renewable-energy plans and a stronger balance sheet may support growth, but the case depends on disciplined execution, project economics, cost control and dividend capacity.
Reported Before market openNYSEBasic Materials
$10.95B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.26
Consensus —
EPS surprise
—
Reported versus consensus
Reported revenue
$858.8M
Consensus —
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.4%
Event window
SPY move
-0.1%
Same window
Abnormal move
-0.2%
Stock minus SPY
Volume
1.0×
Versus trailing sessions
Subsequent drift
+45.6%
Up to 20 sessions
HMYSPY benchmark
Ask FN2 about HMY FY2021 Q4
Transcript, numbers and history already loaded
What drove HMY's -0.4% move after FY2021 Q4 earnings?What changed in HMY's guidance and outlook in FY2021 Q4?Give me the bull and bear case for HMY after FY2021 Q4 earnings.
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Transcript intelligence
What changed
Relative to the prior-quarter analysis, the current transcript analysis points to a larger FY22 investment program, a reported FY21 profit turnaround, completed Mponeng integration benefits and more detailed project and renewable-energy priorities.
Guidance delta
Management guidance was characterized as maintained; FY22 capital spending was expected to increase, with ZAR8 billion directed toward growth projects.
Key takeaways
- The transcript analysis describes a FY21 profit turnaround, stronger balance sheet and a confident management tone.
- Mponeng integration was associated with a 5% production increase excluding the acquired assets.
- The FY22 plan emphasizes higher capital spending on Zaaiplaats, Mine Waste Solutions and Hidden Valley.
- Renewable-energy initiatives and exploration were highlighted alongside operational and execution risks.
Management priorities
- Develop Zaaiplaats deepening and expansion.
- Expand Kareerand tailings operations and advance Hidden Valley projects.
- Progress Wafi Golpu exploration and permitting.
- Deploy renewable-energy projects to reduce power costs.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| HSBC | Buy | Hold | Upgrade | Oct 9, 2025 |
| JP Morgan | Neutral | Neutral | Maintain | Nov 12, 2024 |
| UBS | Neutral | Buy | Downgrade | Sep 7, 2022 |
| Macquarie | Underperform | Neutral | Downgrade | Aug 28, 2018 |
| Bank of America | Neutral | Buy | Downgrade | Oct 20, 2017 |
| B of A Securities | Neutral | Buy | Downgrade | Oct 20, 2017 |
| Morgan Stanley | Equal Weight | Underweight | Upgrade | Nov 11, 2016 |
| Citigroup | Sell | Neutral | Downgrade | Nov 11, 2016 |
| Goldman Sachs | Neutral | Sell | Upgrade | Oct 22, 2013 |
| CIBC | Sector Perform | Sector Outperform | Downgrade | Jan 24, 2013 |
Track every rating change on HMY the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationHarmony Gold Mining Company Limited engages in the exploration, extraction, and processing of mineral properties in South Africa, Papua New Guinea, and Australia. The company explores for gold, uranium, silver, and copper deposits. It has nine underground operations in the Witwatersrand Basin; the Kraaipan Greenstone Belt; and various surface source operations in South Africa. In addition, the company owns interests in the Hidden Valley, an open-pit gold and silver mine; and the Wafi-Golpu project located in Morobe Province in Papua New Guinea. Further, it holds interest in Eva Copper Project located in Queensland, Australia. Harmony Gold Mining Company Limited was incorporated in 1950 and is based in Randfontein, South Africa.
Historical context
All HMY earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.9% | -20.6% | CRS: Aerospace Bookings Accelerate as Guidance Holds |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.3% | +4.7% | Dow’s Q3 growth and self-help gains support a steady Q4 outlook |
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
| SCCO Southern Copper Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.4% | -2.1% | Southern Copper: Record Q3 results, projects advance amid execution risks |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
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- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the HMY recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-25T19:30:42.258754+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.