Harmony Gold (HMY) closed at $4.51 in the latest trading session, marking a +1.35% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.52%.
Prior to today's trading, shares of the gold miner had gained 43.09% over the past month. This has outpaced the Basic Materials sector's gain of 1.94% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from HMY as it approaches its next earnings release.
Any recent changes to analyst estimates for HMY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HMY is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, HMY currently has a Forward P/E ratio of 8.73. This represents a discount compared to its industry's average Forward P/E of 26.6.
Meanwhile, HMY's PEG ratio is currently 0.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HMY's industry had an average PEG ratio of 2.83 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report
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