BMO Capital Starts Harmony Gold (HMY) at Market Perform

BMO Capital analyst Raj Ray initiates coverage on Harmony Gold (NYSE: HMY) with a Market Perform rating and a price target of $16.00.

The analyst comments: "We are initiating coverage on Harmony Gold with a Market Perform rating and US$16.00/ADR target price. Harmony is a South African senior gold producer providing increasing copper exposure and geographical diversification. Harmony's shares have been one of the best performers in the gold sector in recent years following steady operational results and strong gold price tailwinds. While we like the operational setup for the company, we believe valuation is now broadly in line with peer average. We would also look for visibility on F2026 outlook and future capital allocation strategy."

For an analyst ratings summary and ratings history on Harmony Gold click here. For more ratings news on Harmony Gold click here.

Shares of Harmony Gold closed at $14.11 yesterday.

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