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Harmony Gold (HMY) Stock Drops Despite Market Gains: Important Facts to Note
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Harmony Gold (HMY - Free Report) closed at $9.45 in the latest trading session, marking a -1.77% move from the prior day. This move lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq appreciated by 0.4%.
Shares of the gold miner have appreciated by 14.25% over the course of the past month, outperforming the Basic Materials sector's loss of 0.18% and the S&P 500's gain of 3.78%.
The investment community will be paying close attention to the earnings performance of Harmony Gold in its upcoming release.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.20 per share and a revenue of $3.7 billion, signifying shifts of +166.67% and +33.15%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Harmony Gold. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.11% lower. Harmony Gold is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Harmony Gold is presently being traded at a Forward P/E ratio of 8.02. This denotes a discount relative to the industry's average Forward P/E of 16.84.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 57, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Harmony Gold (HMY) Stock Drops Despite Market Gains: Important Facts to Note
Harmony Gold (HMY - Free Report) closed at $9.45 in the latest trading session, marking a -1.77% move from the prior day. This move lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq appreciated by 0.4%.
Shares of the gold miner have appreciated by 14.25% over the course of the past month, outperforming the Basic Materials sector's loss of 0.18% and the S&P 500's gain of 3.78%.
The investment community will be paying close attention to the earnings performance of Harmony Gold in its upcoming release.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.20 per share and a revenue of $3.7 billion, signifying shifts of +166.67% and +33.15%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Harmony Gold. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.11% lower. Harmony Gold is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Harmony Gold is presently being traded at a Forward P/E ratio of 8.02. This denotes a discount relative to the industry's average Forward P/E of 16.84.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 57, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.