AEM vs. HMY: Agnico Eagle Mines vs. Harmony Gold Mining Stock Comparison

November 11, 2026

How do Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY) are both classified in the Gold sub-industry within the broader Metals & Mining industry, placing them in the closest GICS peer bucket.

Agnico Eagle Mines (AEM) trades as ordinary local shares, while Harmony Gold Mining (HMY) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Profile Item	AEM	HMY
Name	Agnico Eagle Mines Limited	Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)
Country/Region	Canada	South Africa
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Gold	Gold
Market Capitalization	96.85 billion USD	10.77 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 21, 1973	May 17, 1994
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

AEM

HMY

GSPC

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
Total Return (1Y)	24.35%	10.98%
Total Return (3Y, Annualized)	64.16%	60.07%
Total Return (5Y, Annualized)	32.08%	39.44%

Risk Profile

Drawdown History

AEM

HMY

GSPC

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
Volatility (1Y, Annualized)	49.17%	63.56%
Beta (5Y)	0.62	1.08
Max Drawdown (5Y)	-45.80%	-62.48%
Avg. Volume (3M)	2.33M	3.68M

Risk-Adjusted Performance

Risk-Return Positioning

AEM and HMY are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
Sharpe Ratio (1Y)	0.41	0.11
Sortino Ratio (1Y)	0.59	0.15

Profitability

ROE (TTM)

Both Agnico Eagle Mines (AEM) at 23.24% and Harmony Gold Mining (HMY) at 48.05% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

AEM

Materials industry group

23.24%

Max: 52.88%
AEM: 23.24%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

HMY

Materials industry group

48.05%

Max: 52.88%
HMY: 48.05%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Agnico Eagle Mines (AEM) at 41.01% keeps the most of each sales dollar — above its industry’s net margin range — and Harmony Gold Mining (HMY) at 29.57% also retains a top-quartile share.

AEM

Materials industry group

41.01%

AEM: 41.01%
Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

HMY

Materials industry group

29.57%

Max: 38.66%
HMY: 29.57%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Agnico Eagle Mines (AEM) at 55.49% and Harmony Gold Mining (HMY) at 47.18% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

AEM

Materials industry group

55.49%

Max: 66.70%
AEM: 55.49%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

HMY

Materials industry group

47.18%

Max: 66.70%
HMY: 47.18%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
ROE (TTM)	23.24%	48.05%
ROA (TTM)	15.80%	25.06%
Net Margin (TTM)	41.01%	29.57%
Operating Margin (TTM)	55.49%	47.18%
Gross Margin (TTM)	74.52%	49.62%

Growth

Revenue Growth

Only one side can be read here: Agnico Eagle Mines (AEM) reports revenue growth of 43.71%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Agnico Eagle Mines (AEM) reports EPS growth of 134.39%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
Revenue Growth (YoY)	43.71%	--
Revenue Growth (3Y CAGR)	27.53%	26.28%
EPS Growth (YoY)	134.39%	--
EPS Growth (3Y CAGR)	79.58%	81.32%

Financial Strength

Current Ratio (MRQ)

Agnico Eagle Mines (AEM) at 2.75 keeps current ratio within its industry’s typical mid-range, while Harmony Gold Mining (HMY) at 0.84 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for HMY.

AEM

Materials industry group

2.75

Max: 5.96
Q3: 3.30
AEM: 2.75
Median: 2.24
Q1: 1.45
Min: 0.16

HMY

Materials industry group

0.84

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
HMY: 0.84
Min: 0.16

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both Agnico Eagle Mines (AEM) at 0.01 and Harmony Gold Mining (HMY) at 0.13 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

AEM

Materials industry group

0.01

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
AEM: 0.01
Min: 0.00

HMY

Materials industry group

0.13

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
HMY: 0.13
Min: 0.00

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
Current Ratio (MRQ)	2.75	0.84
Debt / Equity (MRQ)	0.01	0.13
Net Debt / EBITDA	-0.31	0.02

Dividends

Dividend Yield (TTM)

Agnico Eagle Mines (AEM) at 0.93% pays an industry-typical yield; Harmony Gold Mining (HMY) at 75.74% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

AEM

Materials industry group

0.93%

Max: 4.52%
Q3: 1.85%
AEM: 0.93%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

HMY

Materials industry group

75.74%

HMY: 75.74%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Agnico Eagle Mines (AEM) at 14.26% and Harmony Gold Mining (HMY) at 15.28% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

AEM

Materials industry group

14.26%

Max: 83.62%
Q3: 41.37%
AEM: 14.26%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

HMY

Materials industry group

15.28%

Max: 83.62%
Q3: 41.37%
HMY: 15.28%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
Dividend Yield (TTM)	0.93%	75.74%
Dividend Payout Ratio (TTM)	14.26%	15.28%

Valuation

P/E Ratio (TTM)

Harmony Gold Mining (HMY) at 6.27 sits in the cheaper P/E ratio quartile, while Agnico Eagle Mines (AEM) at 15.61 is closer to its industry’s usual earnings multiple — a discount for HMY, though growth and earnings durability still matter.

AEM

Materials industry group

15.61

Max: 59.00
Q3: 32.93
Median: 18.82
AEM: 15.61
Q1: 11.96
Min: 3.93

HMY

Materials industry group

6.27

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
HMY: 6.27
Min: 3.93

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Harmony Gold Mining (HMY) at 0.11 looks cheap on sales in the lower P/S ratio quartile, while Agnico Eagle Mines (AEM) at 6.44 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

AEM

Materials industry group

6.44

Max: 9.62
AEM: 6.44
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

HMY

Materials industry group

0.11

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
HMY: 0.11
Min: 0.00

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Agnico Eagle Mines (AEM) at 3.27 and Harmony Gold Mining (HMY) at 2.34 are valued close to their industries’ norm against book — neither stands out from peers.

AEM

Materials industry group

3.27

Max: 6.59
Q3: 3.55
AEM: 3.27
Median: 2.08
Q1: 1.26
Min: -0.17

HMY

Materials industry group

2.34

Max: 6.59
Q3: 3.55
HMY: 2.34
Median: 2.08
Q1: 1.26
Min: -0.17

Agnico Eagle Mines (AEM) vs. Harmony Gold Mining (HMY): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Agnico Eagle Mines (AEM) and Harmony Gold Mining (HMY)
Metric	AEM	HMY
P/E Ratio (TTM)	15.61	6.27
P/S Ratio (TTM)	6.44	0.11
P/B Ratio (MRQ)	3.27	2.34
Free Cash Flow Yield (TTM)	3.87%	91.49%