World’s Deepest Gold Mines on a ‘Cliff’ as Virus Cuts Output [Yahoo! Finance News]
Harmony Gold Mining Company Limited (HMY)
US:NYSE Investor Relations:
harmony.co.za/investors
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Source: Yahoo! Finance News
) -- South Africa’s gold industry output has dwindled to a fifth of its 1970s’ peak as ever-deepening shafts and higher costs take their toll. The coronavirus may pose an even bigger threat.The pandemic jeopardizes the future of a 134-year-old industry that once employed more than half a million workers on the world’s biggest gold field. While Cyril Ramaphosa’s government has been praised for its rapid response to the health crisis, the country’s five-week lockdown and the strict conditions attached to reopening gold mines risks undermining their viability.To ensure the social distancing needed to safeguard tens of thousands of workers in the world’s deepest mines, the nation’s gold producers will only be allowed to operate with half their normal employees. That may make them unprofitable, even as they struggle with the added burden of screening workers for virus symptoms and testing of those who display them.“They are pretty much on a cliff,” said Rene Hochreiter, an analyst at Noah
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HMY
News
- Harmony Gold Mining Company Limited (NYSE: HMY) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Harmony Gold Mining Company Limited (NYSE: HMY) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Harmony Gold Mining Company Limited (NYSE: HMY) had its price target raised by analysts at JPMorgan Chase & Co. from $8.20 to $8.40. They now have a "neutral" rating on the stock.MarketBeat
- Are Basic Materials Stocks Lagging Harmony Gold (HMY) This Year? [Yahoo! Finance]Yahoo! Finance
- Harmony Gold Mining Company Limited (NYSE: HMY) is now covered by analysts at Bank of America Co.. They set a "neutral" rating on the stock.MarketBeat
HMY
Earnings
- 2/29/24 - Beat
HMY
Sec Filings
- 11/29/24 - Form 6-K
- 11/27/24 - Form 6-K
- 11/14/24 - Form SC
- HMY's page on the SEC website