10 Worst Affordable Stocks Under $10

3. Harmony Gold Mining Company Limited (NYSE:HMY)

Share Price: $9.86 

Forward P/E Ratio: 8.42 

Earnings Growth This Year: 19.60% 

Number of Hedge Fund Holders: 17 

Harmony Gold Mining Company Limited (NYSE:HMY) is an international gold mining and exploration company with a growing copper footprint around the globe. The company has over 74 years of mining experience in South Africa and currently, more than 90% of its gold comes from this location. Moreover, the company has a significant presence in Papua New Guinea and Australia where it is involved in mining copper.

The company has shifted its focus to gaining operational excellence. During the fourth quarter 2024 earnings call release, management highlighted that their gold production increased by 6% to 1.56 million ounces beating their upper limit of the revised guidance. In addition to improving production, Harmony Gold Mining Company Limited (NYSE:HMY) was also able to reduce its sustaining cost per ounce by 4% to $1,500.

Moreover, the Underground recovered-grades improved for the company resulting in a 100% increase in Free Cash Flow to $681 million at 22% margins. One of the key factors while analyzing a mining company is the safety of its operations as even the slightest incident has the potential to halt operations. Harmony Gold Mining Company Limited (NYSE:HMY) has been able to keep its injury frequency rate per million ounces below 6% for the past consecutive 3 fiscal years, indicating that it owns up to its motto of “a safe mine being a profitable mine”.

Lastly, the company has also remained focused on transforming its assets to improve their life. Its Mine Waste Solution project has extended the life of mine by 14 years. Moreover, the Mponeng extension extended the life of mine by 20 years adding  2.34 million ounces to Mineral Reserves. The stock was held by 17 hedge funds in Q2 2024, with total stakes worth $171.9 million. Kopernik Global Investors is the top shareholder of the company with a position worth more than $26.9 million.