Harmony Gold Mining Company Limited (HGMCF)

Basic Materials · Gold
$19.45 +0.00% on the day Market cap $12.2B 52-week range $14.54 to $25.65 Prices as of Oct 7, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

Harmony Gold Mining Company Limited's free cash flow isn't comparable to its market value here, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

B

Five factors scored 1 to 9 from HGMCF's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation7
Profitability8
Growth8
Financial health5
Cash efficiency7

Key numbers

P/E (trailing)12.5x
P/E (forward)21.1x
Price / free cash flow1.12x
EV / EBITDA5.46x
Price / sales0.15x
Price / book3.92x
Revenue growth+20.4%
Operating margin27.6%
Net margin19.5%
Return on equity29.8%
Dividend yield35.2%
Debt / equity0.60x

Results from SEC filings

Fiscal years, from Harmony Gold Mining Company Limited's 10-K filings. The deep dive has 15+ years, quarters and every line.

Fiscal year20212022202320242025
Revenue$41.7B$42.6B$49.3B$61.4B$73.9B
Net income$5.1B-$1.1B$4.8B$8.6B$14.4B
Free cash flow$4.0B$710M$2.3B$7.3B$10.8B
EPS (diluted)$8.25-$1.72$7.77$13.64$22.88
Operating margin15.5%-1.8%14.4%19.0%27.5%

Where the revenue comes from

Revenue by products, fiscal 2025.

Total Gold Contracts$75.2B96%
Silver$1.8B2%
Uranium$822M1%
Toll treatment services$532M1%

Superinvestors who own HGMCF

From each investor's latest 13F filing (what a 13F shows).

None of the superinvestors we track held HGMCF in their latest 13F.

Insider buying

Open-market purchases by Harmony Gold Mining Company Limited's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

No open-market insider purchases of HGMCF in the last 12 months. Most insider activity is selling and option exercises, which aren't shown here.

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are Harmony Gold Mining Company Limited insiders buying the stock?

No open-market insider purchases of HGMCF in the last 12 months, according to SEC Form 4 filings.

Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.