Harmony Gold (HMY) Climbs as Gold Prices Jump

We recently published 10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs. Harmony Gold Mining Company Ltd. (NYSE:HMY) is one of the top performers on Friday.

Harmony Gold snapped a four-day losing streak on Friday, jumping 5.31 percent to end at $13.28 apiece as investors loaded positions following the surge in prices of gold.

As of writing, spot prices of gold were up by 0.97 percent to $3,450.29 per troy ounce, buoyed by a higher probability of an interest rate cut next month.

Gold typically benefits from lower interest rates, as the latter makes yields from bonds and savings less attractive. Additionally, lower interest rates tend to weaken the US dollar, making gold more affordable and appealing to foreign investors.

In other news, Harmony Gold Mining Company Ltd. (NYSE:HMY) reported a stellar earnings performance in the full fiscal year of 2025, with net income jumping by 75 percent to $802 million from $459 million in the same period last year.

Revenues grew 24 percent to $4.07 billion from $3.28 billion year-on-year, primarily driven by a 27-percent increase in the average gold price of $2,620/oz from $1,999/oz year-on-year.

Following the results, Harmony Gold Mining Company Ltd. (NYSE:HMY) declared $8.88 worth of cash dividends to shareholders as of October 10 record. The dividends are payable on October 13, 2025.

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