Harmony Gold HMY closed the latest trading day at $10.13, indicating a +1.3% change from the previous session's end. The stock lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow experienced a rise of 1.39%, and the technology-dominated Nasdaq saw an increase of 2.34%.
Coming into today, shares of the gold miner had lost 5.12% in the past month. In that same time, the Basic Materials sector lost 5.56%, while the S&P 500 lost 2.88%.
Analysts and investors alike will be keeping a close eye on the performance of Harmony Gold in its upcoming earnings disclosure. The company's earnings report is set to go public on August 28, 2024.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.20 per share and revenue of $3.7 billion. These totals would mark changes of +166.67% and +33.15%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Harmony Gold. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Harmony Gold holds a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Harmony Gold currently has a Forward P/E ratio of 8.33. This indicates a discount in contrast to its industry's Forward P/E of 15.8.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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