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HMY vs. PAAS: Harmony Gold Mining vs. Pan American Silver Stock Comparison

How do Harmony Gold Mining (HMY) and Pan American Silver (PAAS) 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 Pan American Silver (PAAS) both belong to the Metals & Mining industry, though HMY is classified under Gold while PAAS falls under Silver.

Pan American Silver (PAAS) 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 Pan American Silver (PAAS)
Profile ItemHMYPAAS
NameHarmony Gold Mining Company Limited - Depositary Receipt (Common Stock)Pan American Silver Corp.
Country/RegionSouth AfricaCanada
GICS SectorMaterialsMaterials
GICS Industry GroupMaterialsMaterials
GICS IndustryMetals & MiningMetals & Mining
GICS Sub-IndustryGoldSilver
Market Capitalization10.77 billion USD16.98 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateMay 17, 1994June 12, 1995
Security TypeADRCommon Stock

Price Performance

Cumulative Growth

HMY
PAAS
GSPC
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS), 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 Pan American Silver (PAAS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Harmony Gold Mining (HMY) and Pan American Silver (PAAS). 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 Pan American Silver (PAAS)
MetricHMYPAAS
Total Return (1Y)10.98%22.43%
Total Return (3Y, Annualized)60.07%47.84%
Total Return (5Y, Annualized)39.44%11.59%

Risk Profile

Drawdown History

HMY
PAAS
GSPC
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS), 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 Pan American Silver (PAAS). 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 Pan American Silver (PAAS)
MetricHMYPAAS
Volatility (1Y, Annualized)63.56%58.13%
Beta (5Y)1.080.72
Max Drawdown (5Y)-62.48%-57.39%
Avg. Volume (3M)3.68M4.31M

Risk-Adjusted Performance

Risk-Return Positioning

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HMY and PAAS 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 Pan American Silver (PAAS)
MetricHMYPAAS
Sharpe Ratio (1Y)0.110.31
Sortino Ratio (1Y)0.150.45

Profitability

ROE (TTM)

Both Harmony Gold Mining (HMY) at 48.05% and Pan American Silver (PAAS) at 22.39% 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%

PAAS

Materials industry group

22.39%

Max
52.88%
PAAS
22.39%
Q3
19.49%
Median
8.76%
Q1
-3.41%
Min
-32.81%
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): 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 Pan American Silver (PAAS) at 35.16% 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%

PAAS

Materials industry group

35.16%

Max
38.66%
PAAS
35.16%
Q3
15.98%
Median
5.28%
Q1
0.00%
Min
-20.40%
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Harmony Gold Mining (HMY) at 47.18% and Pan American Silver (PAAS) at 34.29% 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%

PAAS

Materials industry group

34.29%

Max
66.70%
PAAS
34.29%
Q3
28.92%
Median
12.56%
Q1
3.28%
Min
-14.07%
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Harmony Gold Mining (HMY) and Pan American Silver (PAAS)
MetricHMYPAAS
ROE (TTM)48.05%22.39%
ROA (TTM)25.06%11.27%
Net Margin (TTM)29.57%35.16%
Operating Margin (TTM)47.18%34.29%
Gross Margin (TTM)49.62%55.17%

Growth

Revenue Growth

Only one side can be read here: Pan American Silver (PAAS) reports revenue growth of 28.38%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Pan American Silver (PAAS) reports EPS growth of 725.81%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Harmony Gold Mining (HMY) and Pan American Silver (PAAS)
MetricHMYPAAS
Revenue Growth (YoY)--28.38%
Revenue Growth (3Y CAGR)26.28%34.28%
EPS Growth (YoY)--725.81%
EPS Growth (3Y CAGR)81.32%--

Financial Strength

Current Ratio (MRQ)

Pan American Silver (PAAS) at 2.72 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

PAAS

Materials industry group

2.72

Max
5.96
Q3
3.30
PAAS
2.72
Median
2.24
Q1
1.45
Min
0.16
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both Harmony Gold Mining (HMY) at 0.13 and Pan American Silver (PAAS) at 0.11 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

HMY

Materials industry group

0.13

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

PAAS

Materials industry group

0.11

Max
1.98
Q3
0.89
Median
0.47
Q1
0.13
PAAS
0.11
Min
0.00
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): 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 Pan American Silver (PAAS)
MetricHMYPAAS
Current Ratio (MRQ)0.842.72
Debt / Equity (MRQ)0.130.11
Net Debt / EBITDA0.02-0.39

Dividends

Dividend Yield (TTM)

Pan American Silver (PAAS) at 1.69% 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%

PAAS

Materials industry group

1.69%

Max
4.52%
Q3
1.85%
PAAS
1.69%
Median
0.38%
Q1
0.00%
Min
0.00%
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): 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 Pan American Silver (PAAS) at 18.00% 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%

PAAS

Materials industry group

18.00%

Max
83.62%
Q3
41.37%
PAAS
18.00%
Median
9.54%
Q1
0.00%
Min
0.00%
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Harmony Gold Mining (HMY) and Pan American Silver (PAAS)
MetricHMYPAAS
Dividend Yield (TTM)75.74%1.69%
Dividend Payout Ratio (TTM)15.28%18.00%

Valuation

P/E Ratio (TTM)

Both Harmony Gold Mining (HMY) at 6.27 and Pan American Silver (PAAS) at 10.83 sit in the cheaper earnings-multiple quartile for P/E ratio, with the market paying less for a dollar of trailing earnings than it pays for typical peers.

HMY

Materials industry group

6.27

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

PAAS

Materials industry group

10.83

Max
59.00
Q3
32.93
Median
18.82
Q1
11.96
PAAS
10.83
Min
3.93
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Harmony Gold Mining (HMY) at 0.11 sits in the cheaper P/S ratio quartile while Pan American Silver (PAAS) at 3.80 prices around its industry’s middle — HMY costs less per dollar of sales, though read it alongside growth and margins.

HMY

Materials industry group

0.11

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

PAAS

Materials industry group

3.80

Max
9.62
Q3
4.34
PAAS
3.80
Median
1.87
Q1
0.73
Min
0.00
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): 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 Pan American Silver (PAAS) at 2.29 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

PAAS

Materials industry group

2.29

Max
6.59
Q3
3.55
PAAS
2.29
Median
2.08
Q1
1.26
Min
-0.17
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Harmony Gold Mining (HMY) vs. Pan American Silver (PAAS): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Harmony Gold Mining (HMY) and Pan American Silver (PAAS)
MetricHMYPAAS
P/E Ratio (TTM)6.2710.83
P/S Ratio (TTM)0.113.80
P/B Ratio (MRQ)2.342.29
Free Cash Flow Yield (TTM)91.49%8.01%