HMY: Harmony Gold Mining Company Limited Instablogs

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Thursday, June 6, 3:31 PM Sibayne Gold (SBGL +12.5%) soars after receiving a Goldman Sachs upgrade to Neutral, but Goldman is hardly ga-ga for South African miners, noting tough operating conditions, key unions competing for membership, and U.S. gold prices remaining relatively low. The weak rand has given the stocks a short-term boost but could create problems down the road, leaving AngloGold (AU) most vulnerable, Goldman adds. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, June 4, 3:18 PM A blip during a turnaround, or a new leg downward for gold miners (GDX -2.4%)? After stringing together several strong days, South African gold miners take a beating today as gold prices slide after a two-week rally: HMY -6.2%, SBGL -4.2%, AU -3.3%, GFI -2.2%. News that Barrick Gold (ABX -3.2%) will delay production at its Pascua-Lama mine may be adding to jitters over government risk. 2 Comments [Commodities, On the Move]
Thursday, May 30, 11:59 AM South African gold miners enjoy another strong performance, aided by rising gold prices and fresh lows in the rand; the rand-price of gold is up almost 10% in the last two weeks. Harmony Gold (HMY +9.9%) and Sibanye Gold (SBGL +5.9%), which own primarily South African assets, are surging; shares with more international exposure also post healthy gains: GFI +4.5%, AU +6.6%. 1 Comment [Commodities, On the Move]
Friday, May 24, 3:28 PM Sibanye Gold (SBGL +5.6%) bucks weakness in South African gold miners Gold Fields (GFI -2.2%), AngloGold (AU -2.4%) and Harmony Gold (HMY -1.8%), as local money manager Allan Gray raises its stake in the miner to 10.1%. SBGL shares have slipped 51% YTD. 1 Comment [Commodities, On the Move]
Thursday, May 23, 2:46 PM Gold's sharp rise today can be attributed to the dollar's drop vs. the yen; when the dollar drops, gold should rise, as their correlation during the past 24 days has hit -86%. A stock sector that's standing out is emerging market gold miners: South Africa’s Sibanye (SBGL), Harmony (HMY) and AngloGold (AU), plus Peru's Buenaventura (BVN) are stronger, even as their corresponding country ETFs (EZA; EPU) are in the red. 5 Comments [Commodities, On the Move]
Tuesday, May 21, 2:17 PM South Africa's rand falls to its lowest level in four years as clashes between mine owners and workers erupt again today. Government "heavy-handedness" with mining companies has created a "major negative" for investors both inside and outside mining, as it reduces companies’ abilities to set their balance sheets and control their own destinies, Greenbriar Partners says. AU -3.3%, GFI -3%, HMY -2.6%. 5 Comments [Commodities, Global & FX]
Monday, May 20, 12:57 PM As precious metals prices turn around, share prices of gold (GDX +4.7%) and silver miners (SIL +3.1%) surge: ABX +5.9%, GG +4.5%, KGC +6.4%, NEM +4.7%, SLW +4%. Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases: AU -0.8%, GFI +1.5%, HMY -0.5%. 2 Comments [Commodities, On the Move]
Monday, May 20, 8:12 AM Shares of South African miners sink as the country's mine workers union calls for a 60% pay increase on gold and coal producers. The union says it is seeking an entry-level minimum monthly wage of 7K rand ($750) for surface workers and 8K rand for underground workers vs. respective current minimum wages of 4.7K and 5K rand. AU -3.7%, GFI -3.4%, HMY -1.9% premarket. 2 Comments [Commodities, Global & FX]
Friday, May 17, 3:22 PM Gold miners (GDX -3.2%) take another beating as gold continues to lose its allure amid disclosures of reduced bets by hedge funds, a World Gold Council report showing gold demand at a three-year low, and a surging dollar. For the miners, it's an ugly world of lower production, higher costs and falling prices. At least nine miners hit 52-week lows: NEM -3%, GG -2.7%, AUY -4.8%, HMY -6.3%, AU -2.5%, BVN -1.1%, ANV -7.4%, NG -2.7%, GSS -5.8%. 18 Comments [Commodities, On the Move]
Friday, May 17, 7:58 AM The head of a major South African mining union threatens to bring the country's economy "to a standstill" and demands a meeting with President Zuma, ramping up the rhetoric in a long and heated conflict between labor and the government. But a strike seems averted for at least another day, as top platinum producer Amplats (AGPPY.PK) says employees reported for today's shifts as normal. Comment! [Commodities, Global & FX]
Thursday, May 9, 6:55 PM The plunge in gold prices significantly raises the stakes in talks between South Africa's gold mine operators and mine workers, set to kick off Friday when the country's mineworkers union will propose a double-digit pay raise. South African producers including Gold Fields (GFI), Harmony Gold (HMY) and AngloGold (AU) have already warned that cuts and a slowdown in exploration are on the way. Comment! [Commodities, Global & FX]
Tuesday, May 7, 2:10 PM Some big moves in today’s options trading make it appear that investors are banking on another drop in the gold miners ETF (GDX -3%), already -36% YTD. Volume in GDX options is heaviest in the June $27 strike puts, where nearly 40K puts have traded vs. open interest of ~16K contracts. Big miners are broadly lower: HMY -5.5%, GFI -5.2%, AU -3.2%, ABX -3.1%, EGO -2.8%, NEM -2.2%, GG -2%. 3 Comments [Commodities, On the Move]
Friday, May 3, 10:37 AM Harmony Gold (HMY -7.4%) plunges after reporting a surprise quarterly loss as output fell 15% to 247.5K oz., mainly due to the temporary closure of the Kusasalethu mine in South Africa. CEO Graham Briggs says HMY will cut FY 2014 capex by 1.4B rand ($155M), noting "the sudden drop in the gold price requires us to look more carefully at our costs." Comment! [Commodities, Earnings, On the Move]
Friday, May 3, 9:10 AM Premarket gainers: PKT +32%. YRCW +27%. INVN +18%. YY +8%. DDD +5%.
Losers: VCRA -35%. ZAGG -24%. GUID -23%. CHE -16%. ARNA -13%. CETV -13%. HMY -9%. LNKD -9%. AGNC -6%. RBS -6%. 3 Comments [On the Move]
Monday, April 29, 11:39 AM Gold miners (GDX) have been smacked by plunging gold prices, but Citigroup and HSBC think they have further to fall. Citi worries about AngloGold (AU) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold (HMY) has the balance sheet to weather similar problems; Gold Fields (GFI) is its sector favorite. HSBC cuts GFI, Agnico Eagle (AEM) and many others. 1 Comment [Commodities, Quick Ideas]
Wednesday, April 24, 12:20 PM Investors in gold miners (GDX +3.5%) feel good - at least for a day - after Barrick Gold's (ABX +3.1%) Q1 efforts to cut costs show some success. ABX reduced its 2013 capex forecast to $5.2B-$5.7B, and said all-in sustaining costs are seen at $950-$1,050/oz., vs. a Feb. 14 forecast of $1,000-$1,100. HMY +8.4%, GFI +5.1%, GG +3.7%, NEM +3.6%, EGO +3.2%, AU +3%. 3 Comments [Commodities, On the Move]

HMY Harmony Gold Mining Company Limited

HMY

Harmony Gold Mining Company Limited