South Africa’s Rand-Fueled Gold Earnings Buck Trend in U.S.
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South African gold companies are set to report gains in quarterly earnings, benefiting from the largest slump in the rand in three years, as North American peers contend with a decline in prices.
Harmony Gold Mining Co., a Johannesburg-based miner, may post adjusted earnings of 1.49 rand ($0.19) a share for the last quarter, up 57 percent from the previous three months, according to the average estimate of four analysts surveyed by Bloomberg. Gold Fields Ltd. and AngloGold Ashanti Ltd. may say profit rose 29 percent and 1 percent, respectively.