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Harmony Gold (HMY) Stock Slides as Market Rises: Facts to Know Before You Trade
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Harmony Gold (HMY - Free Report) closed the most recent trading day at $11.16, moving -0.53% from the previous trading session. This move lagged the S&P 500's daily gain of 0.42%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 0.57%.
Coming into today, shares of the gold miner had gained 23.43% in the past month. In that same time, the Basic Materials sector lost 0.84%, while the S&P 500 gained 1.77%.
The investment community will be closely monitoring the performance of Harmony Gold in its forthcoming earnings report. The company is scheduled to release its earnings on August 28, 2024.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.20 per share and a revenue of $3.7 billion, indicating changes of +166.67% and +33.15%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Harmony Gold is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Harmony Gold has a Forward P/E ratio of 9.35 right now. This signifies a discount in comparison to the average Forward P/E of 16.83 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons 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 (HMY) Stock Slides as Market Rises: Facts to Know Before You Trade
Harmony Gold (HMY - Free Report) closed the most recent trading day at $11.16, moving -0.53% from the previous trading session. This move lagged the S&P 500's daily gain of 0.42%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 0.57%.
Coming into today, shares of the gold miner had gained 23.43% in the past month. In that same time, the Basic Materials sector lost 0.84%, while the S&P 500 gained 1.77%.
The investment community will be closely monitoring the performance of Harmony Gold in its forthcoming earnings report. The company is scheduled to release its earnings on August 28, 2024.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.20 per share and a revenue of $3.7 billion, indicating changes of +166.67% and +33.15%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Harmony Gold is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Harmony Gold has a Forward P/E ratio of 9.35 right now. This signifies a discount in comparison to the average Forward P/E of 16.83 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons 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.