Why the Market Dipped But Harmony Gold (HMY) Gained Today
Harmony Gold (HMY) ended the recent trading session at $14.62, demonstrating a +1.67% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.33%. Elsewhere, the Dow saw a downswing of 0.63%, while the tech-heavy Nasdaq depreciated by 0.22%. The stock of gold miner has fallen by 3.75% in the past month, lagging the Basic Materials sector's gain of 1.87% and the S&P 500's gain of 4.07%.The upcoming earnings release of Harmony Gold will be of great interest to investors. For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.85 per share and a revenue of $0 million, signifying shifts of +190.82% and 0%, respectively, from the last year. Investors should also pay attention to any latest changes in analyst estimates for Harmony Gold. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, the Zacks Consensus EPS estimate has moved 17.77% higher. Harmony Gold is holding a Zacks Rank of #1 (Strong Buy) right now. Investors should also note Harmony Gold's current valuation metrics, including its Forward P/E ratio of 5.05. This denotes a discount relative to the industry average Forward P/E of 13.04. Also, we should mention that HMY has a PEG ratio of 0.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Mining - Gold industry stood at 0.55 at the close of the market yesterday. The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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. Should You Invest in Harmony Gold Mining Company Limited (HMY)?Before you invest in Harmony Gold Mining Company Limited (HMY), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Harmony Gold Mining Company Limited (HMY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
