Harmony Gold Boosts Copper Footprint With Acquisition of MAC Copper
Werte in diesem Artikel
Harmony Gold Mining Company Limited HMY has entered into a binding agreement, through its wholly owned Australian subsidiary Harmony Gold Pty Limited, to acquire 100% of the securities in MAC Copper Limited, a Jersey-registered company, for $12.25 per share of MAC Copper in cash. This deal values MAC at approximately $1.03 billion in total equity. MAC has a 100% interest in the CSA Copper Mine in Australia.As a mining specialist with more than 75 years of experience, Harmony is advancing its transformation into a global gold and copper producer. Its core strategy focuses on delivering safe, profitable production and enhancing margins through operational excellence and strategic, value-enhancing acquisitions. The company has a strong track record of successful acquisitions and integrations, including full ownership of Hidden Valley in Papua New Guinea, Moab Khotsong, Mponeng and Mine Waste Solutions and the Eva Copper Project in Queensland, Australia. This latest acquisition is consistent with Harmony’s proven strategy of pursuing value-driven growth and supports its broader goal of becoming a low-cost, globally diversified gold and copper producer through disciplined capital deployment.The acquisition offers several benefits for Harmony. It diversifies the company into a top-tier copper asset—CSA, one of Australia’s highest-grade copper mines, producing more than 40ktpa of copper concentrate. With low operating costs, CSA delivers strong margins and immediate cash flows, complementing Harmony’s existing operations in Australasia. The mine boasts a reserve life exceeding 12 years and significant exploration upside, including the emerging Merrin Mine and a newly announced zinc resource. With its experienced regional team in Brisbane and a solid balance sheet, Harmony is well-positioned to scale copper production to roughly 100ktpa on Australia’s East Coast within five years while maintaining leverage below 1.0x and supporting further growth at CSA.The transaction will be carried out through a scheme of arrangement under Jersey law in accordance with the terms of an Implementation Deed signed by Harmony, Harmony Gold Pty Limited and MAC. HMY expects the transaction to be completed in the December quarter of 2025. MAC will become a fully-owned subsidiary of Harmony after the completion of the deal. Shares of Harmony Gold have surged 62% in the past year compared with a 41.5% rise in the industry.Image Source: Zacks Investment ResearchHMY’s Rank & Other Key PicksHMY currently carries a Zacks Rank #2 (Buy).Other top-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Alamos Gold Inc. AGI and Hawkins, Inc. HWKNCarpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 110% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Alamos Gold current-year earnings is pegged at $1.29 per share. AGI, carrying a Zacks Rank #1, surpassed the Zacks Consensus Estimate in two of the trailing four quarters while missing twice, with the average earnings surprise being 1.4%. The company's shares have rallied 58.1% in the past year.Hawkins, which currently carries a Zacks Rank #2, beat the consensus estimate in one of the trailing four quarters while missing thrice. In this time frame, it delivered an earnings surprise of roughly 8.2%, on average. The company's shares have rallied 43.6% in the past year. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Harmony Gold Mining Company Limited (HMY): Free Stock Analysis Report Alamos Gold Inc. (AGI): Free Stock Analysis Report Hawkins, Inc. (HWKN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
