Harmony shares rise on expectation of up to 255% increase in H1 HEPS
JOHANNESBURG (miningweekly.com) – Harmony Gold’s share price rose by 9.6% on the JSE on Monday afternoon after it announced an expected increase of between 235% and 255% year-on-year in its headline earnings per share (HEPS) for the six months ended December 31.
Harmony attributed the higher HEPS to an increase in the average gold spot price, the recognition of a gain on the Hidden Valley acquisition and the gains recognised on gold and currency hedges.
This, the company noted on Monday, will translate to HEPS of between 139c and 160c.
Meanwhile, its earnings a share are expected to be between 434% and 454% higher year-on-year at between 341c and 361c. Harmony recorded a loss a share of 102c in the half-year ended December 31, 2015.
“We achieved all we set out to in the half-year. We improved our safety performance and increased production. Safe mines are profitable mines and profitable mines strengthen our margins,” said CEO Peter Steenkamp.
The company will publish its results on February 2.
Harmony’s shares rose as high as R35.01 a share on Monday, compared with Friday’s close of R31.94.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation