HMY Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: HMY’s strong operational improvements, combined with a favorable outlook in gold prices, support potential growth. Enhanced earning potential via increased scalability and cross-chain innovations boosts long-term prospects.




Bearish Case: Geopolitical tensions and South Africa’s infrastructural challenges persist, potentially undermining HMY’s stability. High implied volatility suggests market uncertainty, possibly leading to unfavorable price corrections.




Potential Outcomes:

1. Gold price increase (35%): Drives HMY upward.

2. Geopolitical unrest (25%): Negatively impacts operations.

3. Institutional interest (20%): Sparks price rise.

4. Currency fluctuations (20%): Affect earnings. Adjusted for recent global economic shifts.



April 30, 2025


Harmony Gold Mining Forecast

HMY        Harmony Gold Mining











Correlated Assets

Assets that tend to move strongly with HMY



JNUG Forecast + Options Trading Strategies   JNUG  Direxion Daily Junior Gold Miners Index Bu (0.89)


AGI Forecast + Options Trading Strategies   AGI  Alamos Gold (0.82)


EQX Forecast + Options Trading Strategies   EQX  Equinox Gold (0.8)


DUK Forecast + Options Trading Strategies   DUK  Duke Energy (0.71)


EXC Forecast + Options Trading Strategies   EXC  Exelon (0.7)



Uncorrelated Assets

Assets with little price relationship to HMY



SHEL Forecast + Options Trading Strategies   SHEL  Shell Plc - ADR (Representing) (-0.0)


RPM Forecast + Options Trading Strategies   RPM  RPM International (-0.0)


AX Forecast + Options Trading Strategies   AX  Axos Financial (-0.0)


PHG Forecast + Options Trading Strategies   PHG  Koninklijke Philips (0.01)


MFA Forecast + Options Trading Strategies   MFA  MFA Financial (0.01)



Anticorrelated Assets

Assets that tend to move strongly against HMY



IPGP Forecast + Options Trading Strategies   IPGP  IPG Photonics (-0.57)


VRNT Forecast + Options Trading Strategies   VRNT  Verint Systems (-0.6)


WNC Forecast + Options Trading Strategies   WNC  Wabash National (-0.62)


M Forecast + Options Trading Strategies   M  Macy's (-0.63)


FUN Forecast + Options Trading Strategies   FUN  Cedar Fair (-0.64)









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