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Harmony Gold (HMY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Harmony Gold (HMY - Free Report) closed the latest trading day at $9.57, indicating a -1.54% change from the previous session's end. This change lagged the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 2.3%.
Shares of the gold miner have appreciated by 3.85% over the course of the past month, outperforming the Basic Materials sector's loss of 0.16% and the S&P 500's gain of 1.11%.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.11% lower. Harmony Gold is currently a Zacks Rank #5 (Strong Sell).
In the context of valuation, Harmony Gold is at present trading with a Forward P/E ratio of 8.1. This valuation marks a discount compared to its industry's average Forward P/E of 16.07.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 56, 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Harmony Gold (HMY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Harmony Gold (HMY - Free Report) closed the latest trading day at $9.57, indicating a -1.54% change from the previous session's end. This change lagged the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 2.3%.
Shares of the gold miner have appreciated by 3.85% over the course of the past month, outperforming the Basic Materials sector's loss of 0.16% and the S&P 500's gain of 1.11%.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.11% lower. Harmony Gold is currently a Zacks Rank #5 (Strong Sell).
In the context of valuation, Harmony Gold is at present trading with a Forward P/E ratio of 8.1. This valuation marks a discount compared to its industry's average Forward P/E of 16.07.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 56, 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.