HMY vs. NEM: Harmony Gold Mining vs. Newmont Stock Comparison

November 11, 2026

How do Harmony Gold Mining (HMY) and Newmont (NEM) 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

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

Newmont (NEM) 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 Harmony Gold Mining (HMY) and Newmont (NEM)
Profile Item	HMY	NEM
Name	Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)	Newmont Corporation
Country/Region	South Africa	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Gold	Gold
Market Capitalization	10.77 billion USD	125.65 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 17, 1994	March 17, 1980
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

HMY

NEM

GSPC

Harmony Gold Mining (HMY) vs. Newmont (NEM), 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 Harmony Gold Mining (HMY) and Newmont (NEM). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
Total Return (1Y)	10.98%	51.53%
Total Return (3Y, Annualized)	60.07%	57.50%
Total Return (5Y, Annualized)	39.44%	20.41%

Risk Profile

Drawdown History

HMY

NEM

GSPC

Harmony Gold Mining (HMY) vs. Newmont (NEM), 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 Harmony Gold Mining (HMY) and Newmont (NEM). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
Volatility (1Y, Annualized)	63.56%	48.55%
Beta (5Y)	1.08	0.51
Max Drawdown (5Y)	-62.48%	-62.40%
Avg. Volume (3M)	3.68M	6.95M

Risk-Adjusted Performance

Risk-Return Positioning

HMY and NEM 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 Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
Sharpe Ratio (1Y)	0.11	0.97
Sortino Ratio (1Y)	0.15	1.41

Profitability

ROE (TTM)

Both Harmony Gold Mining (HMY) at 48.05% and Newmont (NEM) at 27.26% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

HMY

Materials industry group

48.05%

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

NEM

Materials industry group

27.26%

Max: 52.88%
NEM: 27.26%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Harmony Gold Mining (HMY) at 29.57% and Newmont (NEM) at 34.73% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

HMY

Materials industry group

29.57%

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

NEM

Materials industry group

34.73%

Max: 38.66%
NEM: 34.73%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Harmony Gold Mining (HMY) at 47.18% and Newmont (NEM) at 49.99% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

HMY

Materials industry group

47.18%

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

NEM

Materials industry group

49.99%

Max: 66.70%
NEM: 49.99%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
ROE (TTM)	48.05%	27.26%
ROA (TTM)	25.06%	16.37%
Net Margin (TTM)	29.57%	34.73%
Operating Margin (TTM)	47.18%	49.99%
Gross Margin (TTM)	49.62%	68.04%

Growth

Revenue Growth

Only one side can be read here: Newmont (NEM) reports revenue growth of 21.34%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Newmont (NEM) reports EPS growth of 118.84%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
Revenue Growth (YoY)	--	21.34%
Revenue Growth (3Y CAGR)	26.28%	23.91%
EPS Growth (YoY)	--	118.84%
EPS Growth (3Y CAGR)	81.32%	--

Financial Strength

Current Ratio (MRQ)

Newmont (NEM) at 2.45 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.

HMY

Materials industry group

0.84

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

NEM

Materials industry group

2.45

Max: 5.96
Q3: 3.30
NEM: 2.45
Median: 2.24
Q1: 1.45
Min: 0.16

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Harmony Gold Mining (HMY) at 0.13 keeps leverage in the lower industry quartile, while Newmont (NEM) at 0.16 runs a more typical debt-to-equity mix.

HMY

Materials industry group

0.13

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

NEM

Materials industry group

0.16

Max: 1.98
Q3: 0.89
Median: 0.47
NEM: 0.16
Q1: 0.13
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
Current Ratio (MRQ)	0.84	2.45
Debt / Equity (MRQ)	0.13	0.16
Net Debt / EBITDA	0.02	-0.18

Dividends

Dividend Yield (TTM)

Newmont (NEM) at 0.87% 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.

HMY

Materials industry group

75.74%

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

NEM

Materials industry group

0.87%

Max: 4.52%
Q3: 1.85%
NEM: 0.87%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Harmony Gold Mining (HMY) at 15.28% and Newmont (NEM) at 11.95% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

HMY

Materials industry group

15.28%

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

NEM

Materials industry group

11.95%

Max: 83.62%
Q3: 41.37%
NEM: 11.95%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
Dividend Yield (TTM)	75.74%	0.87%
Dividend Payout Ratio (TTM)	15.28%	11.95%

Valuation

P/E Ratio (TTM)

Harmony Gold Mining (HMY) at 6.27 sits in the cheaper P/E ratio quartile, while Newmont (NEM) at 14.03 is closer to its industry’s usual earnings multiple — a discount for HMY, though growth and earnings durability still matter.

HMY

Materials industry group

6.27

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

NEM

Materials industry group

14.03

Max: 59.00
Q3: 32.93
Median: 18.82
NEM: 14.03
Q1: 11.96
Min: 3.93

Harmony Gold Mining (HMY) vs. Newmont (NEM): 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 Newmont (NEM) at 4.72 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

HMY

Materials industry group

0.11

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

NEM

Materials industry group

4.72

Max: 9.62
NEM: 4.72
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Harmony Gold Mining (HMY) at 2.34 and Newmont (NEM) at 3.53 are valued close to their industries’ norm against book — neither stands out from peers.

HMY

Materials industry group

2.34

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

NEM

Materials industry group

3.53

Max: 6.59
Q3: 3.55
NEM: 3.53
Median: 2.08
Q1: 1.26
Min: -0.17

Harmony Gold Mining (HMY) vs. Newmont (NEM): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Harmony Gold Mining (HMY) and Newmont (NEM)
Metric	HMY	NEM
P/E Ratio (TTM)	6.27	14.03
P/S Ratio (TTM)	0.11	4.72
P/B Ratio (MRQ)	2.34	3.53
Free Cash Flow Yield (TTM)	91.49%	7.29%