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











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EXC Forecast + Options Trading Strategies   EXC  Exelon (0.7)


SNY Forecast + Options Trading Strategies   SNY  Sanofi (0.62)



Uncorrelated Assets

Assets with little price relationship to HMY



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


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


MPWR Forecast + Options Trading Strategies   MPWR  Monolithic Power System (0.01)


FITB Forecast + Options Trading Strategies   FITB  Fifth Third Bancorp (-0.02)


STLD Forecast + Options Trading Strategies   STLD  Steel Dynamics (0.02)



Anticorrelated Assets

Assets that tend to move strongly against HMY



XRX Forecast + Options Trading Strategies   XRX  Xerox (-0.57)


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


AMCX Forecast + Options Trading Strategies   AMCX  AMC Networks (-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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