12 Best Middle East and Africa Stocks To Buy Right Now

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

Number of Hedge Fund Investors: 11

Harmony Gold Mining Company Limited (NYSE:HMY) is a South African gold mining and exploration company. The company operates multiple mines in South Africa and Papua New Guinea and has established itself as a specialist gold producer with a growing international copper footprint.

Harmony Gold Mining Company Limited (NYSE:HMY) is focused on optimizing its existing operations, particularly its underground mines in South Africa. The company has allocated $117.18 million towards decline projects at these mines in FY25, which will enable it to maintain flexibility and reduce costs. Additionally, Harmony Gold Mining Company Limited (NYSE:HMY) is conducting studies to determine whether the life of the mine at its Hidden Valley can be extended further. The company is also progressing with a feasibility study update on its Wafi-Golpu copper project, which has the potential to become a significant contributor to the company’s future growth.

Harmony Gold Mining Company Limited (NYSE:HMY) is also exploring new opportunities to grow its business, including the development of its surface operations in South Africa. The company has identified significant potential in its old tailings dams, with 5.7 million ounces of resources in the Free State. A feasibility study is underway to determine the viability of re-mining these tailings, which could potentially create another mega tailings retreatment operation. Furthermore, Harmony Gold Mining Company Limited (NYSE:HMY) is constantly looking for opportunities to acquire high-quality assets that can enhance the company’s portfolio and drive growth.