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Harmony Gold Mining Company Limited. JSE: HAR

Harmony Gold shares

Background of Harmony Gold

  • Harmony Gold Mining Company is South Africa’s third largest gold mining and exploration company and the world’s fifth largest producer of gold, running operations in South Africa and Papua New Guinea.

  • The company has nine underground mines, one open pit operation and a few surface sources in South Africa. In Papua New Guinea, Harmony Gold has a 50%joint venture with Newcrest Mining, and several 100% owned exploration areas. Harmony Gold directly and indirectly employs more than 30 000 people in South Africa and around 100 in Papua New Guinea.

  • The company’s history stems back to 1950 when it was incorporated as a public company in South Africa and later became a Randgold-managed company, before it was recreated as a separate entity in 1995. Today, the group’s principle, wholly-owned subsidiaries are Randfontein Estates, Evander Gold Mines, ARMgold and Harmony Gold Australia. Today, Harmony Gold shares are available to buy on the Johannesburg Stock Exchange (JSE), the New York Stock Exchange and the Berlin Stock Exchange.

Harmony Gold Shares Growth Driver

  • Harmony Gold had several difficult years from 2012 to 2015, with the live online stocks chart showing that Harmony Gold share price fell from R114 to just R8.70 by the end of 2015. The company suffered a R1.2 billion loss in 2014 and a R4.5 billion loss in 2015, as a result of a falling gold price, higher operating costs and a challenging economic environment. This prompted extensive restructuring of the company’s asset portfolio, with a focus on cutting costs, improving labour productivity, increasing overall mining grade and mining only safe and profitable ounces.

  • In Papua New Guinea, the principle objective is to develop the Golpu copper-gold deposit into a producing mine. The mine is forecast to be in full production by 2020, with 500 000 ounces expected between 2024 to 2029. A strengthening gold price has boosted Harmony Gold share price performance of late, with the financial data for the first quarter of the 2016 financial year showing a R76 million return to profitability.

Harmony Gold Group Investor Tip

  • After a long slide, Harmony Gold share price has been rising due to foreign currency gains against the rand, a stronger gold price and an announcement that the company has started repaying its debt, making the shares a worthwhile buy again.

  • The restructuring of the company has begun to reap rewards, and Harmony Gold is well positioned to continue on its upward trajectory. In July 2016, the company announced it had met annual targets of 1.1 million ounces and became the first company to return to hedging to provide some stability in a volatile gold market. This means that Harmony Gold will be able to put gold from future production up for sale at a fixed price. This is expected to guarantee profits if the rand goes down. Overall, Harmony Gold is a company which is slowly on the rise, and could yield a good return for investors looking to buy the shares at their current low price.

Harmony Gold Major Shareholders

African Rainbow Minerals, Allan Gray Unit Trust Management, Van Eck Associate Corporation.

  • Sector

    Materials

  • Industry

    Metals & Mining

  • Sub industry

    Precious Metal Mining

How to buy Harmony Gold Group Shares

  • Harmony Gold : How to buy Harmony Gold Group Shares Online

    We have made it simple to buy JSE listed firm shares online. The easiest way to buy Harmony Gold Group shares or stocks is to; start by submitting the ‘BUY THIS SHARE’ form. Next, one of our experienced and certified stock brokers will personally get in contact with you to discuss your custom stock request. Finally, a stock advisor will confirm the amount of shares you are looking to invest in Harmony Gold Group and assist you with the setup and management of your stock portfolio account.

  • Here are the steps you must follow to Buy / Purchase Harmony Gold Group shares with utmost confidence:

    1. Start by Filling in the BUY THIS SHARE form.
    2. Insert your name, email, telephone number and monthly remuneration.
    3. Then, Indicate the amount you are looking to invest in Harmony Gold Group.
    4. Click the “ INVEST NOW” button
    5. Once we have received your info, a dedicated stock advisor will personally call you back to discuss your personal share request.
    6. Lastly, your newly appointed personal stock advisor will handle all account setups and reporting as stipulated by the financial services board of South Africa (FSB)
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<a href="https://www.sashares.co.za/harmony-gold-shares">Credits: SA Shares™</a>
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