Harmony Gold Mining Company Limited (NYSE: HMY)

Harmony Gold Mining Company Limited (NYSE: HMY) headquartered in South Africa, operates as a gold mining and exploration business. Its activities span across the exploration, extraction, and processing of gold. The company organizes its operations into three main segments: South Africa Underground, Surface, and International.

As per our previous Inflation report published on ‘HMY’ on September 26, 2025, Kalkine provided a ‘Buy’ stance on the stock at USD 17.18 based on fundamental analysis and the stock price has now moved up by 27.47% and trading above resistance 2.

Noted below are the details of technical summary provided in our previous report:

HMY’s Daily Chart

Considering the current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, a ‘Sell’ rating is assigned to the ’HMY’ at the closing market price of USD 21.90 as of Oct 16, 2025.  

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is Oct 16, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.