HGMCF (Harmony Gold Mining Co) Moat Score: 5/10 (As of Jul. 04, 2026)


HGMCF Harmony Gold Mining Co Ltd HGMCF
92 GF Score
Price $17.45
GF Value $18.04
Valuation Fairly Valued
View Full Analysis

What is Harmony Gold Mining Co Moat Score?

Harmony Gold Mining Co HGMCF 92 Moat Score is 5 as of Jul. 04, 2026. GuruFocus rates HGMCF with a GF Score™ of 92/100 and a GF Value™ of $18.04 (Fairly Valued). Among 2,612 Metals & Mining companies, Harmony Gold Mining Co ranks better than 98.74% on this metric.

Harmony Gold Mining Co has the Moat Score of 5, which implies that the company might have Narrow Moat - Solid narrow moat.

Harmony Gold Mining Co has Narrow Moat: Harmony Gold Mining has a solid narrow moat due to its established mining operations and economies of scale. However, it faces significant competition and lacks strong regulatory barriers or intellectual property.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Harmony Gold Mining Co might have Narrow Moat - Solid narrow moat.

Harmony Gold Mining Co  (OTCPK:HGMCF) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Harmony Gold Mining Co Moat Score Related Terms

HGMCF vs NEM, AU, RGLD: Moat Score Comparison

For the Gold subindustry, Harmony Gold Mining Co's Moat Score, along with its competitors' market caps and Moat Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Harmony Gold Mining Co Moat Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Harmony Gold Mining Co's Moat Score distribution charts can be found below:

* The bar in red indicates where Harmony Gold Mining Co's Moat Score falls into.


HGMCF
92GF Score
Harmony Gold Mining Co Ltd HGMCF
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis
Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 5 mean?
Harmony Gold Mining Co (HGMCF) has a Moat Score of 5 as of Jul. 04, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Harmony Gold Mining Co ranks #33 out of 2612 companies in the Metals & Mining industry, placing it in the top 1.3%.
Is Harmony Gold Mining Co's Moat Score too high?
Harmony Gold Mining Co's current Moat Score is 5. The Metals & Mining industry median Moat Score is 1.00. Harmony Gold Mining Co's value of 5 is 400% above this industry median. Based on the distribution chart, Harmony Gold Mining Co ranks #33 out of 2612 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Harmony Gold Mining Co has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Harmony Gold Mining Co's Moat Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Harmony Gold Mining Co ranks #33 out of 2612 companies for Moat Score. This places Harmony Gold Mining Co in the top 1% of its industry — outperforming the majority of peers. The industry median Moat Score is 1.00. Harmony Gold Mining Co's value of 5 is 400% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Metals & Mining company?
The median Moat Score among Metals & Mining companies is 1.00, based on 2,612 companies in the industry. Companies in the top quartile (top 25%) have a Moat Score significantly above this median, while those in the bottom quartile fall well below. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harmony Gold Mining Co's current Moat Score of 5 is 400% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. For the Metals & Mining industry, the median Moat Score is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmony Gold Mining Co's current Moat Score is 5. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmony Gold Mining Co stock overvalued right now?
Based on GuruFocus' analysis, Harmony Gold Mining Co (HGMCF) is currently considered Fairly Valued. The stock's GF Value™ is $18.04, compared to a current price of $17.45 — trading 3.3% below its estimated fair value. The current Moat Score is 5 and 400% above the Metals & Mining industry median of 1.00. Harmony Gold Mining Co's overall GF Score™ is 92/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Harmony Gold Mining Co (HGMCF), the current Moat Score is 5 as of Jul. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Harmony Gold Mining Co (HGMCF) Overvalued in 2026?

Based on GuruFocus' analysis, Harmony Gold Mining Co stock appears to be undervalued. The current stock price of $17.45 is trading 3.3% below its estimated GF Value™ of $18.04. GuruFocus considers Harmony Gold Mining Co to be Fairly Valued.

Key valuation signals for HGMCF:

  • Moat Score: 5
  • GF Value™: $18.04 vs. price of $17.45 (3.3% below fair value)
  • GF Score™: 92/100
  • Industry Position: 400% above the Metals & Mining median (#33 of 2612)

No single metric tells the full story. See the HGMCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Harmony Gold Mining Co Business Description

Address Corner Main Reef Road and Ward Avenue, Randfontein Office Park, Randfontein, ZAF, 1759
Harmony Gold Mining Co Ltd is engaged in gold mining and related activities, including exploration, extraction, and processing. The group's primary product is gold bullion, produced at operations in South Africa and Papua New Guinea. Gold byproducts include uranium and silver. Strategic projects such as the Wafi-Golpu Project in the New Guinea Mobile Belt, the Eva Copper Project in the Mt Isa Inlier, Queensland, Australia, and the MAC Copper acquisition position the company as a gold-copper producer. The company operates across South Africa, Papua New Guinea, and Australia.
92GF Score

Get the complete analysis for HGMCF

Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$17.45
Price
$18.04
GF Value