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Investment Idea: Harmony Gold - 30 September 2024
Manage episode 442934601 series 3581049
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Harmony Gold released its FY24 results for the year ended 30 June 2024. In this report, we discuss the key takeaways from the results and update our valuation.
Since our last report, Harmony is up roughly by 8% and the gold price is up about 9%. Highlights from the results include the following:
- Group production increased by 6% to 1.56moz, driven by higher grades at Mponeng, Hidden Valley and Mine Waste Solutions.
- Group revenue increased by 25% to R6.31 billion, driven by higher production, higher grades and a higher average gold price
- Harmony ended the period with net cash of R2.9 billion
The opinions expressed in these podcasts are the opinions of the series and not necessarily those of PSG. The information in these podcasts is provided as general information. It does not constitute financial, tax, legal or investment advice and PSG Financial Services does not guarantee its suitability or potential value. Since individual needs and risk profiles differ, we suggest you consult your qualified financial adviser, if needed. PSG Wealth Financial Planning (Pty) Ltd is an authorised financial services provider. FSP 728.
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