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Harmony Gold's (HMY) Earnings and Sales Rise Y/Y in FY19
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Harmony Gold Mining Company Limited (HMY - Free Report) posted adjusted earnings of 14 cents per share in fiscal 2019 (ended Jun 30, 2019), up 7.7% from 13 cents recorded a year ago.
Revenues and Costs
Revenues increased 19.3% to roughly $1.9 billion for fiscal 2019 from around $1.6 billion registered a year ago. The upside was mainly driven by 18% increase in gold sales.
Gold production was 1,438,231 ounces (oz) in the fiscal year, up nearly 17% year over year. Average gold prices received during the fiscal fell roughly 7% year over year to $1,287 per oz.
Cost of sales increased 12.7% year over year to $2,037 million, while cash operating costs fell 5% to $965 million. All-in-sustaining costs (AISC) fell around 2% year over year to $1,207 per oz.
Harmony Gold Mining Company Limited Price, Consensus and EPS Surprise
At the end of fiscal 2019, cash and cash equivalents rose 37.3% year over year to $70 million. Cash flow from operating activities rose 8.9% to $330 million in the fiscal.
Net debt decreased around 3% year over year to $348 million at the end of fiscal 2019.
Outlook
Harmony Gold plans to produce roughly 1.46 million oz of gold in fiscal 2020. Some of the company’s key focus area in the next fiscal will include profitable production, value accretive acquisitions and strengthening cash flows.
Price Performance
Shares of Harmony Gold have skyrocketed 106.3% in the past year compared with the industry’s 61.8% surge.
Zacks Rank & Other Key Picks
Harmony Gold currently carries a Zacks Rank #2 (Buy).
Kinross has an expected earnings growth rate of 150% for 2019. The company’s shares have surged 66.2% in the past year.
Alamos Gold has projected earnings growth rate of 300% for the current year. The company’s shares have rallied 60.1% in a year’s time.
Arconic has an estimated earnings growth rate of 47.1% for the current year. Its shares have moved up 17.1% in the past year.
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Harmony Gold's (HMY) Earnings and Sales Rise Y/Y in FY19
Harmony Gold Mining Company Limited (HMY - Free Report) posted adjusted earnings of 14 cents per share in fiscal 2019 (ended Jun 30, 2019), up 7.7% from 13 cents recorded a year ago.
Revenues and Costs
Revenues increased 19.3% to roughly $1.9 billion for fiscal 2019 from around $1.6 billion registered a year ago. The upside was mainly driven by 18% increase in gold sales.
Gold production was 1,438,231 ounces (oz) in the fiscal year, up nearly 17% year over year. Average gold prices received during the fiscal fell roughly 7% year over year to $1,287 per oz.
Cost of sales increased 12.7% year over year to $2,037 million, while cash operating costs fell 5% to $965 million. All-in-sustaining costs (AISC) fell around 2% year over year to $1,207 per oz.
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
Financial Overview
At the end of fiscal 2019, cash and cash equivalents rose 37.3% year over year to $70 million. Cash flow from operating activities rose 8.9% to $330 million in the fiscal.
Net debt decreased around 3% year over year to $348 million at the end of fiscal 2019.
Outlook
Harmony Gold plans to produce roughly 1.46 million oz of gold in fiscal 2020. Some of the company’s key focus area in the next fiscal will include profitable production, value accretive acquisitions and strengthening cash flows.
Price Performance
Shares of Harmony Gold have skyrocketed 106.3% in the past year compared with the industry’s 61.8% surge.
Zacks Rank & Other Key Picks
Harmony Gold currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Kinross Gold Corporation (KGC - Free Report) , Alamos Gold Inc (AGI - Free Report) and Arconic Inc , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross has an expected earnings growth rate of 150% for 2019. The company’s shares have surged 66.2% in the past year.
Alamos Gold has projected earnings growth rate of 300% for the current year. The company’s shares have rallied 60.1% in a year’s time.
Arconic has an estimated earnings growth rate of 47.1% for the current year. Its shares have moved up 17.1% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>