Harmony Gold Mining Company Ltd. (HMY), a company mining gold in South Africa and Papua New Guinea, has seen a decline of 3.52% in the premarket trading session. As a result that, HMY stock is currently changing hands at $3.56. On Wednesday, HMY stock decreased some 2.38% and was trading at $3.69.
HMY fiscal 2021 financial results
On the 31st of August, HMY reported the financial results for the fiscal year 2021, which ended 30th of June. According to those, the company produced gold of 47,755 kg during the year, while during the preceding year; it produced gold of 37,863 kg. The company posted a production profit of $777 million during the year, while during fiscal 2020, the production profit stood at $459 million. The basic loss per share during the year stood at $0.58. The headline loss per share was $0.60. The revenue generated during the year was $41.73 million, while during the previous year, it was $29.24 million. The gross profit stood at $6.07 million, while during the preceding year, it was $3.33 million. The net loss was $5.59 million, while during 2020, it was $0.85 million. The company had total assets of $49.49 million on the last day of the fiscal, while during the preceding year, the total assets stood at $44.69 million. The company had cash and cash equivalents of $2.81 million at the end of the year, while during the preceding year, these were $6.35 million.
Injury at HMY mine
On the 6th of August, the HMY administration said that in its Moab Khotsong mine, near Orkney, in the North West province, an employee was fatally injured as a result of felling of ground. The company said that investigation regarding the incident was underway. The executives and management of the company expressed their condolences on the incident. Peter Steenkamp, chief executive officer of Harmony, said that the company would continue its journey toward minimalizing the negative effects upon the company’s employees during operations.
Appointment in BoDs
In late February, HMY appointed Peter Turner to the board of Directors of Harmony Gold Mining Company. The company said that Mr. Peter would serve as an independent and non-executive director of the company, and besides, would be a technical committee member. Peter has extensive experience in deep underground mining within Africa. Dr. Patrice Motsepe, chairman of Harmony, expressed Mr. Peter’s induction into BoDs of HMY and said that the induction of Mr. Peter to the Board of Directors would make a significant contribution to the technical expertise required for the safety initiatives, development, and growth of the Company.
What’s ahead for HMY?
Indicators suggest that HMY stock could enjoy positive times shortly. During the last 5 years, the company’s EPS grew by some 30.90%. The sales during the last 5 years increased a massive 56.60%. The company expects that its EPS could grow some 67% this year. These statistics reveal a very sanguine picture of HMY stock. Potential investors should keep watching HMY stock performance in near future.
