Harmony (HMY) Jumps as Gold Hits Fresh Highs Anew

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Harmony Gold Mining Company Ltd. (NYSE:HMY) is one of the best performers on Wednesday.

Harmony Gold extended its winning streak to a third consecutive day on Wednesday, jumping 5.74 percent to finish at $15.1 apiece as investors loaded positions amid gold’s fresh climb to new highs.

As of this writing, the spot prices of gold have gone up by 1.08 percent at $3,571.29—a fresh peak—buoyed by a higher probability of an interest rate cut this month.

Gold and silver typically benefit from lower interest rates, as the latter tends to weaken the US dollar, making precious metals 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. The dividends are payable on October 13, 2025.

While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.