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.
| Profile Item | HMY | PAAS |
|---|---|---|
| Name | Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock) | Pan American Silver Corp. |
| Country/Region | South Africa | Canada |
| GICS Sector | Materials | Materials |
| GICS Industry Group | Materials | Materials |
| GICS Industry | Metals & Mining | Metals & Mining |
| GICS Sub-Industry | Gold | Silver |
| Market Capitalization | 10.77 billion USD | 16.98 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | May 17, 1994 | June 12, 1995 |
| Security Type | ADR | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | HMY | PAAS |
|---|---|---|
| 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
Return Distribution
Risk Metrics
| Metric | HMY | PAAS |
|---|---|---|
| Volatility (1Y, Annualized) | 63.56% | 58.13% |
| Beta (5Y) | 1.08 | 0.72 |
| Max Drawdown (5Y) | -62.48% | -57.39% |
| Avg. Volume (3M) | 3.68M | 4.31M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | HMY | PAAS |
|---|---|---|
| Sharpe Ratio (1Y) | 0.11 | 0.31 |
| Sortino Ratio (1Y) | 0.15 | 0.45 |
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%
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%
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%
Profitability Metrics
| Metric | HMY | PAAS |
|---|---|---|
| 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.
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.
Growth Metrics
| Metric | HMY | PAAS |
|---|---|---|
| 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
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
Financial Strength Metrics
| Metric | HMY | PAAS |
|---|---|---|
| Current Ratio (MRQ) | 0.84 | 2.72 |
| Debt / Equity (MRQ) | 0.13 | 0.11 |
| Net Debt / EBITDA | 0.02 | -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%
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%
Dividend Metrics
| Metric | HMY | PAAS |
|---|---|---|
| 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
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
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
Valuation Metrics
| Metric | HMY | PAAS |
|---|---|---|
| P/E Ratio (TTM) | 6.27 | 10.83 |
| P/S Ratio (TTM) | 0.11 | 3.80 |
| P/B Ratio (MRQ) | 2.34 | 2.29 |
| Free Cash Flow Yield (TTM) | 91.49% | 8.01% |