Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)
HMY$16.14
-$0.07 (-0.43%)
Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)
Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) is the American depositary receipt representation of Harmony Gold Mining Company Limited, a gold-mining and exploration company headquartered in Randfontein, South Africa. The business focuses on the exploration, extraction, processing, and sale of gold, with related exposure to copper and other mineral interests. Its operations include underground mines, open-pit mining, and surface retreatment facilities, supported by activities such as mine development, land rehabilitation, and closure planning. Harmony also maintains mining and development interests in South Africa and Papua New Guinea, giving it a diversified operational footprint across key precious-metals regions. The depositary receipt provides market access to the company’s common equity through an ADR structure, making Harmony Gold a notable participant in the global precious-metals sector.
$16.14
-$0.07 (-0.43%)
EOD Oct 23, 2026
18.79% operating margin is respectable but not wide. ROIC at 20.19%.
Revenue up 24.6% in the fiscal year ended Jun 2024 with margins expanding 2.6pp.
Even for strong businesses, today's 19.64x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
19.64x earnings, 22.87x FCF. A middle-of-the-range multiple: the price assumes roughly the current trajectory.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
ZAR 61.38B
▲ +24.6% YoY
Net Income (TTM)
ZAR 8.69B
▲ +77.9% YoY
Op. Margin
18.79%
▲ +2.6pp YoY
ROIC
20.19%
▲ +4.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
ZAR 7.25B
▲ +214.2% YoY
Op. Cash Flow (TTM)
ZAR 15.65B
▲ +57.1% YoY
Net Debt
-ZAR 2.39B
Net Cash Position
Cash & Equiv.
ZAR 4.69B
Continue Research
Is Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) (HMY) overvalued?
At a P/E of 19.6 and a price-to-free-cash-flow of 22.9, Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) (HMY) trades below a two-stage DCF intrinsic value of about ZAR 595.25 per share, so at ZAR 16.14 the stock looks undervalued (3,588.1% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) scores 92/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.0%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)'s fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about ZAR 595.25 per share for HMY, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around ZAR 446.44. At today's ZAR 16.14, that puts the stock about 3,588.1% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) a high-quality business?+
Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) scores 92 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 18.8% operating margin and a 20.2% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) (HMY) pay a dividend, and how much?+
Yes, Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) pays a regular dividend of about ZAR 0.13 per share per year (typically in quarterly installments), a yield of roughly 0.0% at the current price. That is a payout ratio of about 0.9% of earnings, so the dividend is amply covered by earnings. Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) has grown the dividend at roughly 81.4% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For HMY's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) a good stock to buy right now?+
That depends on valuation and quality together, not either alone. HMY currently trades below its estimated intrinsic value and scores 92/100 on quality (high-quality). It also yields about 0.0%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Gold
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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