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Has Harmony Gold Mining Company (HMY) Outpaced Other Basic Materials Stocks This Year?

Zacks Equity Research

Investors focused on the Basic Materials space have likely heard of Harmony Gold Mining Company (HMY), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of HMY and the rest of the Basic Materials group's stocks.

Harmony Gold Mining Company is a member of the Basic Materials sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. HMY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HMY's full-year earnings has moved 29.63% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the latest available data, HMY has gained about 70.95% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10.75% on a year-to-date basis. This means that Harmony Gold Mining Company is outperforming the sector as a whole this year.

Looking more specifically, HMY belongs to the Mining - Gold industry, which includes 35 individual stocks and currently sits at #34 in the Zacks Industry Rank. This group has gained an average of 35.26% so far this year, so HMY is performing better in this area.

HMY will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.


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Zacks Investment Research