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Harmony's (HMY) FY21 Earnings & Revenues Rise Year Over Year

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·2 min read
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Harmony Gold Mining Company Limited HMY posted adjusted earnings of 60 cents per share for fiscal 2021 (ended Jun 30, 2021) against a loss of 10 cents recorded in the year-ago period.

Harmony Gold Mining Company Limited Price, Consensus and EPS Surprise

Harmony Gold Mining Company Limited Price, Consensus and EPS Surprise
Harmony Gold Mining Company Limited Price, Consensus and EPS Surprise

Harmony Gold Mining Company Limited price-consensus-eps-surprise-chart | Harmony Gold Mining Company Limited Quote

Revenues and Costs

In fiscal 2021, revenues increased 45.2% to $2,710 million from $1,867 million registered a year ago. Average gold prices received during the period rose roughly 18% year over year to $1,719 per ounce (oz).

Gold production was around 1.54 million oz for the fiscal, up around 26% year over year.

Cash operating costs per oz declined 10% to $1,213. All-in-sustaining costs (AISC) declined 13% year over year to $1,460 per oz.

Financial Overview

As of Jun 30, 2021, cash and cash equivalents declined from $367 in the year-ago period to $198 million. Cash flow from operating activities surged 99% year over year to $597 million in fiscal 2021.

Net debt was $38 million at the end of fiscal 2021, down around 52% year over year.

Outlook

Harmony Gold plans to produce 1.55-1.63 million oz of gold in fiscal 2022. The company also expects an all-in sustaining cost between R765,000/kg-R800,000/kg. Underground recovered grade is forecast in the range of 5.40-5.57g/t.

Price Performance

Shares of Harmony have declined 37.3% in the past year compared with 28.2% fall of the industry.

Zacks Investment Research
Zacks Investment Research


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Zacks Rank & Key Picks

Harmony currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.

Nucor has a projected earnings growth rate of around 494% for the current year. The company’s shares have soared 147.7% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 27.8% in the past year. It currently holds a Zacks Rank #2 (Buy).

Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 39% in the past year. It currently carries a Zacks Rank #2.


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Nucor Corporation (NUE) : Free Stock Analysis Report

Dow Inc. (DOW) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Cabot Corporation (CBT) : Free Stock Analysis Report

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