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If You Invested $1000 in Harmony Gold 10 Years Ago, This Is How Much You'd Have Now
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How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
The fear of missing out, or FOMO, also plays a factor in investing, especially with particular tech giants, as well as popular consumer-facing stocks.
What if you'd invested in Harmony Gold (HMY - Free Report) ten years ago? It may not have been easy to hold on to HMY for all that time, but if you did, how much would your investment be worth today?
Harmony Gold's Business In-Depth
With that in mind, let's take a look at Harmony Gold's main business drivers.
Harmony Gold Mining Company Limited is based in Randfontein, South Africa. The company conducts underground and surface gold mining. It is also engaged in related activities such as exploration, processing, smelting and refining. Harmony is South Africa's biggest gold producer by volume with production of 1.47 million ounces in fiscal 2023.
The company’s mining operations are principally concentrated in South Africa. The company has nine underground operations located in the Witwatersrand Basin. Additionally, Harmony has an open-pit mine on the Kraaipan Greenstone Belt along with several surface sources treatment operations. The Hidden Valley, which is located in Papua New Guinea, is an open-pit silver and gold mine.
Also, many of these mines are located in the Free State Province such as Welcom, Virginia, Tshepong and Bambanani, along with the Evander gold mine in Mpumalanga province, the Elandskraal mine at the West Rand goldfields in Gauteng province, and Kalgold operations in the North West province.
The company has discontinued its mining operations at Mt. Magnet and South Kalgoorlie in Western Australia as a strategic move. Harmony recorded sales of $2,774 million for fiscal 2023 (ended Jun 30, 2023).
Exploration Projects
Domestic Projects: In South Africa, Harmony operates a total of nine underground operations, one open pit operation and several surface operations including an open cast mine, and nine processing plants, which are located in all of the currently known goldfields in the Witwatersrand basin of South Africa as well as the Kraaipan Greenstone Belt.
International Projects: In Papua New Guinea (PNG), Harmony has full ownership of Hidden Valley, an open-cast gold and silver project that began production in June 2009, and 50% ownership of the Wafi-Golpu project. Harmony’s exploration portfolio focuses principally on highly prospective areas in PNG and the Wafi-Golpu project in particular. Harmony expects that if Wafi-Golpu is developed, it will shift the company’s geographical mix from more than 90% South African production to 75% domestic output and 25% offshore. Harmony, in December 2022, also acquired the Eva Copper project and surrounding exploration tenements from Copper Mountain Mining Corporation.
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Harmony Gold a decade ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in June 2015 would be worth $10,811.59, or a 981.16% gain, as of June 10, 2025. Investors should keep in mind that this return excludes dividends but includes price appreciation.
In comparison, the S&P 500 gained 188.72% and the price of gold went up 169.48% over the same time frame.
Going forward, analysts are expecting more upside for HMY.
Harmony Gold is advancing several key development projects, including the Wafi-Golpu copper-gold deposit in Papua New Guinea and the Eva Copper project in Australia, which are expected to enhance production and expand its international footprint significantly. The Golpu project is believed to be a game-changer for the company. The acquisition of Eva Copper aligns with the company’s goal of transitioning into a low-cost gold and copper producer. Rallying gold prices are also expected to drive the company’s performance. The rally has been driven by strong demand from central banks, a dovish Fed interest rate outlook, global uncertainties and a surge in safe-haven demand thanks to heightened geopolitical tensions. Harmony is also making progress in reducing its debt levels and improving cash flow.
The stock is up 5.74% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 1 higher, for fiscal 2025. The consensus estimate has moved up as well.
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If You Invested $1000 in Harmony Gold 10 Years Ago, This Is How Much You'd Have Now
How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
The fear of missing out, or FOMO, also plays a factor in investing, especially with particular tech giants, as well as popular consumer-facing stocks.
What if you'd invested in Harmony Gold (HMY - Free Report) ten years ago? It may not have been easy to hold on to HMY for all that time, but if you did, how much would your investment be worth today?
Harmony Gold's Business In-Depth
With that in mind, let's take a look at Harmony Gold's main business drivers.
Harmony Gold Mining Company Limited is based in Randfontein, South Africa. The company conducts underground and surface gold mining. It is also engaged in related activities such as exploration, processing, smelting and refining. Harmony is South Africa's biggest gold producer by volume with production of 1.47 million ounces in fiscal 2023.
Exploration ProjectsThe company’s mining operations are principally concentrated in South Africa. The company has nine underground operations located in the Witwatersrand Basin. Additionally, Harmony has an open-pit mine on the Kraaipan Greenstone Belt along with several surface sources treatment operations. The Hidden Valley, which is located in Papua New Guinea, is an open-pit silver and gold mine.
Also, many of these mines are located in the Free State Province such as Welcom, Virginia, Tshepong and Bambanani, along with the Evander gold mine in Mpumalanga province, the Elandskraal mine at the West Rand goldfields in Gauteng province, and Kalgold operations in the North West province.
The company has discontinued its mining operations at Mt. Magnet and South Kalgoorlie in Western Australia as a strategic move. Harmony recorded sales of $2,774 million for fiscal 2023 (ended Jun 30, 2023).
Domestic Projects: In South Africa, Harmony operates a total of nine underground operations, one open pit operation and several surface operations including an open cast mine, and nine processing plants, which are located in all of the currently known goldfields in the Witwatersrand basin of South Africa as well as the Kraaipan Greenstone Belt.
International Projects: In Papua New Guinea (PNG), Harmony has full ownership of Hidden Valley, an open-cast gold and silver project that began production in June 2009, and 50% ownership of the Wafi-Golpu project. Harmony’s exploration portfolio focuses principally on highly prospective areas in PNG and the Wafi-Golpu project in particular. Harmony expects that if Wafi-Golpu is developed, it will shift the company’s geographical mix from more than 90% South African production to 75% domestic output and 25% offshore. Harmony, in December 2022, also acquired the Eva Copper project and surrounding exploration tenements from Copper Mountain Mining Corporation.
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Harmony Gold a decade ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in June 2015 would be worth $10,811.59, or a 981.16% gain, as of June 10, 2025. Investors should keep in mind that this return excludes dividends but includes price appreciation.
In comparison, the S&P 500 gained 188.72% and the price of gold went up 169.48% over the same time frame.
Going forward, analysts are expecting more upside for HMY.
Harmony Gold is advancing several key development projects, including the Wafi-Golpu copper-gold deposit in Papua New Guinea and the Eva Copper project in Australia, which are expected to enhance production and expand its international footprint significantly. The Golpu project is believed to be a game-changer for the company. The acquisition of Eva Copper aligns with the company’s goal of transitioning into a low-cost gold and copper producer. Rallying gold prices are also expected to drive the company’s performance. The rally has been driven by strong demand from central banks, a dovish Fed interest rate outlook, global uncertainties and a surge in safe-haven demand thanks to heightened geopolitical tensions. Harmony is also making progress in reducing its debt levels and improving cash flow.
The stock is up 5.74% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 1 higher, for fiscal 2025. The consensus estimate has moved up as well.