Harmony Gold Stock Declines Amid Rising Market: Key Facts Before Trading

Harmony Gold (HMY) stock has slid 1.34% to $14.03, lagging the S&P 500's 0.4% gain and the Dow's 0.47% rise. The stock has risen 2.23% in the past month, but the upcoming earnings release will be closely watched. Analysts project earnings of $2.85 per share and revenue of $0 million for the full year, a 190.82% change in earnings. The Zacks Rank of #1 (Strong Buy) indicates a positive outlook. The Forward P/E ratio of 4.99 is lower than the industry average, and the PEG ratio of 0.09 is also lower than the industry average of 0.55.

Harmony Gold (HMY) stock closed at $14.83 in the latest trading session, marking a -1.33% move from the prior day. This performance lagged the S&P 500's daily gain of 0.78% and the Dow's upswing of 1.14%. Meanwhile, the tech-heavy Nasdaq appreciated by 0.61%. Over the past month, shares of the gold miner have appreciated by 6.67%, outperforming the Basic Materials sector's gain of 6.63% and the S&P 500's gain of 5.88% [1].

The investment community will be closely monitoring Harmony Gold's performance in its forthcoming earnings report. Analysts project earnings of $2.85 per share and revenue of $0 million for the full year, indicating a change of +190.82% in earnings and 0% in revenue from the former year [1].

Harmony Gold currently features a Zacks Rank of #1 (Strong Buy), suggesting a positive outlook. The Forward P/E ratio of 5.27 is lower than the industry average of 12.14, indicating that the stock is trading at a discount. Additionally, the PEG ratio of 0.09 is lower than the industry average of 0.57, further supporting the stock's valuation [1].

The Mining - Gold industry, of which Harmony Gold is a part, has a Zacks Industry Rank of 12, placing it in the top 5% of all 250+ industries. The Zacks Industry Rank measures the average Zacks Rank of individual stocks within the group and shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [1].

Investors should keep an eye on Harmony Gold's earnings report, scheduled to be closely watched. The company's recent stock performance and analyst estimate revisions suggest that the market is optimistic about its future profitability.

References:
[1] https://www.nasdaq.com/articles/harmony-gold-hmy-stock-sinks-market-gains-what-you-should-know