Analyst Consensus ?
ConsensusHold10 ratings
Bullish110.0%
Neutral770.0%
Bearish220.0%
Harmony Gold Mining Company Limited · HMY · FY2025 Q2 · Calendar Q1 2025
Harmony sustains strong operating momentum while funding copper growth
The call supports a constructive operating picture, but the growth case depends on converting strong gold cash generation into disciplined copper and retreatment execution without weakening shareholder returns.
Reported Session unavailableNYSEBasic Materials
$10.95B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
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Consensus —
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus —
Revenue surprise
—
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
+5.1%
Event window
SPY move
-1.2%
Same window
Abnormal move
+6.3%
Stock minus SPY
Volume
1.1×
Versus trailing sessions
Subsequent drift
+43.7%
Up to 20 sessions
HMYSPY benchmark
Ask FN2 about HMY FY2025 Q2
Transcript, numbers and history already loaded
What drove HMY's +5.1% move after FY2025 Q2 earnings?What changed in HMY's guidance and outlook in FY2025 Q2?Give me the bull and bear case for HMY after FY2025 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter, management placed more emphasis on first-half cash generation, the continued dividend policy and near-term Eva Copper optionality, while maintaining an increasing capital-spending outlook.
Guidance delta
Maintained
Key takeaways
- Management described strong first-half performance and record cash generation.
- Capital allocation remains focused on high-grade gold assets, surface retreatment and copper projects.
- The central trade-off is near-term shareholder returns versus funding growth and project execution.
Management priorities
- Maintain operating and cost discipline across the gold portfolio
- Advance Eva Copper feasibility and development work
- Progress permitting for Wafi-Golpu and expand tailings retreatment
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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 earningsLatest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-27T19:12:43.472554+00:00
- Polygon adjusted daily market bars · 2026-10-06T13:50:44.236570+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 2026-10-06. For educational purposes only; not investment advice.