HMY on NYSE

Harmony Gold

Logo: https://www.harmony.co.za/, Non-free logo, via Wikipedia4

Gold mining company in South Africa

Harmony Gold is the largest gold mining company in South Africa. Founded in 1950, and headquartered in Johannesburg, the company has operations in South Africa and in Papua New Guinea.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1950Founded1

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  • TickerHMY on NYSE1
  • Industrygold mining1
  • HeadquartersRandfontein1
  • Websitewww.harmony.co.za
  • Legal formpublic company1
  • Listed onJohannesburg Stock Exchange (HMY), New York Stock Exchange (HMY)1
  • Business addressRandfontein Office Park, Car Main Reef Road And Ward Avenue, Randfontein5
  • Filer categoryLarge accelerated filer5

Harmony Gold is the largest gold mining company in South Africa. Founded in 1950, and headquartered in Johannesburg, the company has operations in South Africa and in Papua New Guinea.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2018

-13.6%Gross margin7
-21.1%Operating margin7
-20.3%Net margin7
-1.3%Return on equity8
-$52.0MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

Country of domicile [member] brought in 89% of the revenue Harmony Gold broke down this way in fiscal 2025.

  1. Country of domicile [member]62.8B ZAR989%up 21% from 2024
  2. Foreign countries [member]7.9B ZAR911%up 28% from 2024
Regions by year
Regions202320242025
Country of domicile [member]43.1B ZAR52.1B ZAR62.8B ZAR
Foreign countries [member]4.4B ZAR6.2B ZAR7.9B ZAR

Where the money goes

Where each dollar of revenue went, fiscal 2018

  • Other costs100¢$1.6B

Out of $1.6B in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2018

  • Capital spending100¢$355.0M

Out of $303.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7

Financial statements

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-06-302024-06-302023-06-30
Revenue73.9B ZAR61.4B ZAR49.3B ZAR
Cost of sales-49.6B ZAR-47.2B ZAR-39.5B ZAR
Production costs-43.2B ZAR-38.9B ZAR-34.9B ZAR
Amortisation and depreciation-4.8B ZAR-4.6B ZAR-3.5B ZAR
Impairment of assets0 ZAR-2.8B ZAR0 ZAR
Other items-1.6B ZAR-875.0M ZAR-1.2B ZAR
Gross profit24.3B ZAR14.1B ZAR9.7B ZAR
Corporate, administration and other expenditure-1.6B ZAR-1.3B ZAR-1.0B ZAR
Exploration expenditure-915.0M ZAR-1.0B ZAR-506.0M ZAR
Gains/(losses) on derivatives-59.0M ZAR453.0M ZAR-194.0M ZAR
Foreign exchange translation gain/(loss)-107.0M ZAR97.0M ZAR-634.0M ZAR
Remeasurement of contingent consideration (c)-830.0M ZAR-484.0M ZAR-64.0M ZAR
Other operating expenses-346.0M ZAR-195.0M ZAR-204.0M ZAR
Operating profit20.4B ZAR11.7B ZAR7.1B ZAR
Acquisition-related costs-40.0M ZAR0 ZAR-214.0M ZAR
Share of profits from associate106.0M ZAR81.0M ZAR57.0M ZAR
Impairment of investments in associate-23.0M ZAR0 ZAR0 ZAR
Investment income1.5B ZAR809.0M ZAR663.0M ZAR
Finance costs-698.0M ZAR-796.0M ZAR-994.0M ZAR
Profit before taxation21.2B ZAR11.8B ZAR6.6B ZAR
Taxation-6.7B ZAR-3.1B ZAR-1.7B ZAR
Net profit for the year14.5B ZAR8.7B ZAR4.9B ZAR
Non-controlling interest164.0M ZAR101.0M ZAR63.0M ZAR
Owners of the parent14.4B ZAR8.6B ZAR4.8B ZAR
Total earnings23.13 ZAR13.86 ZAR7.80 ZAR
Total earnings22.88 ZAR13.64 ZAR7.77 ZAR

Compare Harmony Gold with another company

Products and brands

  • gold ore

Listed on Wikidata.1

South Africa

In 2020 Harmony took over AngloGold Ashanti's last South African mining assets for about R4.4 billion.

Tshepong

Tshepong is located in the Free State Province, near Welkom, about 248 kilometres from Johannesburg. Mining is conducted at a depth of 2 349 meters. The mine uses conventional undercut mining in the Basal Reef while the B Reef is exploited as a high grade secondary reef. Ore mined is processed at the Harmony One plant.

Bambanani

Bambanani, near Welkom and about 262 kilometres from Johannesburg, has two surface shafts (the East and West shafts). Mining is conducted at a depth of 2 365 metres. Activities at the mine focus on the Basal Reef and are limited to shaft pillar extraction. The ore mined is sent to Harmony One Plant for processing. Given the high risk of seismicity at Bambanani, efforts are focused on managing support systems and the rehabilitation of areas with challenging ground conditions.

Target 1

Target 1 is located in the Free State Province, some 10 kilometers north of Welkom and 270 kilometres southwest of Johannesburg. Mining operations at Target 1 comprise one primary underground mine, with a depth of approximately 2 945 metres. While most of the ore extracted comes from mechanised mining (massive mining techniques), conventional stoping is still employed primarily to de-stress areas ahead of mechanised mining. Ore mined is processed at the Target plant.

Read the full text

Doornkop

Doornkop, a single-shaft operation, is located in the province of Gauteng of South Africa, approximately 30 kilometres west of Johannesburg, on the northern rim of the Witwatersrand Basin. Mining is conducted at a depth of 1 978 metres. The operation focuses on narrow-reef conventional mining of the South Reef. The ore from the operation is processed at the Doornkop plant.

Joel

Joel is located in the Free State Province and about 292 kilometres from Johannesburg, on the southern edge of the Witwatersrand Basin. The mine comprises two shafts, the North and South shafts. The primary economical reef horizon at Joel is a narrow tabular Beatrix Reef deposit which is accessed via conventional grid development. Mining is conducted at a depth of 1 452 metres. The ore is processed at the Joel plant.

Kusasalethu

Kusasalethu is located about 90 kilometres from Johannesburg, near the provincial border of Gauteng and North West Province. Kusasalethu is situated in the West Witwatersrand Basin and mines the Ventersdorp Contact Reef as its main ore body. The mine comprises twin vertical and twin sub-vertical shaft systems and uses conventional mining methods in a sequential grid layout. Mining is conducted at a depth of 3 388 metres, making it Harmony's deepest mine. Ore mined is treated at the Kusasalethu plant.

Masimong

Masimong is located in the Free State Province, near the city of Welkom and about 260 kilometres from Johannesburg. The Masimong complex comprises an operating shaft (5 shaft), and a second shaft (4 shaft), which, although closed for mining, is used for ventilation, pumping and as a second outlet. Masimong exploits the Basal Reef and the B Reef. Mining is conducted at a depth of 2 050 metres. Ore mined is processed at the Harmony One plant.

Moab Khotsong

Harmony successfully acquired Moab Khotsong from AngloGold Ashanti Limited on 1 March 2018. The $300-million deal includes the Moab Khotsong mine, one of the newest South African deep-level mines, with life-of-mine grade forecast at 8.2 g/t, taking the average Harmony underground grade to 5.7g/t.

The acquisition also includes the Great Noligwa mine which is a high grade opportunity for Harmony to extend the life of mine and extract the shaft pillar.

Unisel

Unisel is located in the Free State Province, near Virginia and about 271 kilometres from Johannesburg. Mining is conducted at a depth of 2 153 metres below surface. Conventional scattered mining and pillar reclamation takes place to access the Basal, Leader and, to a lesser extent, the Middle reefs. Ore mined is processed at Harmony One plant.

Kalgold open pit

Kalgold is an open-pit mine situated 55 kilometres southwest of Mahikeng in North West Province and located within the Kraaipan Greenstone Belt. Mining takes place from the A Zone pit. Ore mined from the pit is processed at a carbon-in-leach plant located at Kalgold.

Surface Dumps

Production from the processing of surface rock dumps situated in the Free State province of South Africa depends entirely on the availability of spare mill capacity at the Harmony One and Target plants, which in turn depends on the availability of underground ore delivered for milling.

Phoenix Surface Operations

Phoenix, a tailings retreatment operation situated in Virginia in the Free State Province, makes use of the Saaiplaas plant to retreat tailings. During FY13, Harmony finalised an empowerment agreement and transferred 30% of its shareholding in the Phoenix operations to black economic empowerment owners.

Hidden Valley

The Hidden Valley mine is an open pit gold and silver mine, situated in the highly prospective area of the Morobe Province in Papua New Guinea, some 210 kilometres northwest of Port Moresby. The major gold and silver deposits of the Morobe goldfield and Hidden Valley are hosted in the Wau Graben. The operational pits are Hidden Valley-Kaveroi and Hamata, located approximately 6 kilometres apart. Ore mined is treated at the Hidden Valley processing plant.

From Wikipedia’s article on Harmony Gold (mining), shared under CC BY-SA 4.0.6

Timeline

  1. 1950Founded Founded1

Filings

204 filings to the SEC since October 2021: 5 annual reports, 10 large holders, 189 other. The latest 20:

  1. Oct 13, 20266-K EDGAR
  2. Oct 7, 20266-K EDGAR
  3. Sep 22, 20266-K EDGAR
  4. Sep 21, 20266-K EDGAR
  5. Sep 15, 20266-K EDGAR
  6. Sep 8, 20266-K EDGAR
  7. Aug 27, 20266-K EDGAR
  8. Aug 27, 20266-K EDGAR
  9. Aug 21, 20266-K EDGAR
  10. Aug 18, 20266-K EDGAR
  11. Aug 17, 20266-K EDGAR
  12. Jul 28, 20266-K EDGAR
  13. Jul 20, 20266-K EDGAR
  14. Jun 30, 20266-K EDGAR
  15. Jun 22, 20266-K EDGAR
  16. May 29, 20266-K EDGAR
  17. May 26, 20266-K EDGAR
  18. May 18, 20266-K EDGAR
  19. May 15, 2026SCHEDULE 13G/A EDGAR
  20. Apr 29, 20266-K EDGAR

The 204 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 10 such filings since October 2021:

  1. May 15, 2026SCHEDULE 13G/A
  2. Nov 12, 2025SCHEDULE 13G/A
  3. Oct 17, 2025SCHEDULE 13G
  4. May 12, 2025SCHEDULE 13G/A
  5. Nov 14, 2024SC 13G/A
  6. Feb 14, 2024SC 13G/A
  7. Feb 14, 2023SC 13G/A
  8. Feb 14, 2023SC 13G/A
  9. Sep 22, 2022SC 13G
  10. Feb 11, 2022SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Van Eck Associates Corp29,806,743$453.4M0.3%−1,154,226
BlackRock, Inc.6,034,314$91.8M0.0%+139,979
Aqr Capital Management LLC5,069,547$76.6M0.0%−875,782
American Century Companies Inc4,637,634$70.5M0.0%+116,506
Dimensional Fund Advisors LP4,351,630$66.2M0.0%−910,181
Lazard Asset Management LLC2,624,320$39.9M0.1%−360,160
D. E. Shaw & Co., Inc.1,875,031$28.5M0.0%−518,093
Hamilton Capital Partners Inc.1,481,399$22.5M0.7%+114,281
Millennium Management LLC1,156,313$17.6M0.0%+82,784
Alps Advisors Inc1,124,267$17.1M0.1%+987,698
Goldman Sachs Group Inc1,077,559$16.4M0.0%+64,793
Bank Of America Corp /de/1,063,869$16.2M0.0%+935,187
UBS Group AG966,883$14.7M0.0%+585,889
Susquehanna International Group, Llp880,246$13.4M0.0%+90,128
Amundi879,168$13.4M0.0%−1,667,791
Renaissance Technologies LLC803,842$12.2M0.0%−914,478
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.778,826$11.8M0.0%+41,229
Invesco Ltd.678,307$10.3M0.0%−1,713,724
Ninety One UK Ltd675,690$10.3M0.0%+675,557
Morgan Stanley670,288$10.2M0.0%−347,033
Mountaineer Partners Management, LLC612,949$9.3M6.8%−53,786
Man Group plc544,105$8.3M0.0%−1,361,492
Jane Street Group, LLC509,150$7.7M0.0%−1,968,737
Abc Arbitrage Sa503,723$7.7M0.8%−237,822
Two Sigma Investments, LP469,555$7.1M0.0%−39,886

13F reports cover disclosed long positions in U.S. stocks only.