Harmony Gold interim earnings forecast up to 42% higher

HARMONY Gold is expected to announce a major increase in interim share earnings when it reports its numbers next Tuesday (March 4).Commenting in a trading statement on Thursday, the Johannesburg-headquartered miner said earnings for the six month period wil be between R11,82 and R13,55/share, an increase of between 24% and 42%. In dollars, share earnings will come in between 66 and 76 US cents/share, up between 29% and 48% on the previous year.Headline share earnings will be between R11,88 and R13,61 – between 24% and 42% higher – and 67 and 77 US cents per share in dollars, an increase of between 31% and 50%.The improvement was heavily influenced by the surging gold price.The average gold price received increased by 23% to R1.4m/kg in the first half compared to an average of about R1.1m/kg in the previous half year. In US dollar terms, the average gold price received was 28% averaging $2,437/oz compared to $1,900/oz previously.Harmony said the price received increase was partially offset by increases in labour and electricity costs leading to higher production costs. An increase in tax and royalties off the back of a better performance financially also dragged on earnings.Beyers Nel, CEO of Harmony Gold said the results were due to “continuous investment in safety, operational excellence and higher quality ounces”.“We have a stable, predictable, rand-based cost structure and have been delivering operational consistency across the entire group,” he said.Revenue is much improved in Harmony’s second half of its 2025 year as the gold price is already 11% higher year-to-date. Analysts expect the metal to breach the $3,000/oz barrier this year amid evidence of further central bank purchases and institutional interest driven by safe-haven buying.Shares in Harmony are 18% higher year-to-date. They reached an all-time higher on February 10 of R227,86 apiece. The company has a current market capitalisation of R119.9bn.The post Harmony Gold interim earnings forecast up to 42% higher appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com