HMY vs. RIO: Harmony Gold Mining vs. Rio Tinto Stock Comparison

November 11, 2026

How do Harmony Gold Mining (HMY) and Rio Tinto (RIO) 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 Rio Tinto (RIO) both belong to the Metals & Mining industry, though HMY is classified under Gold while RIO falls under Diversified Metals & Mining.

Both Harmony Gold Mining (HMY) and Rio Tinto (RIO) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Harmony Gold Mining (HMY) and Rio Tinto (RIO)
Profile Item	HMY	RIO
Name	Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)	Rio Tinto plc ADR
Country/Region	South Africa	United Kingdom
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Gold	Diversified Metals & Mining
Market Capitalization	10.77 billion USD	136.19 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 17, 1994	June 28, 1990
Security Type	ADR	ADR

Price Performance

Cumulative Growth

HMY

RIO

GSPC

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO), 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 Rio Tinto (RIO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Harmony Gold Mining (HMY) and Rio Tinto (RIO). 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 Rio Tinto (RIO)
Metric	HMY	RIO
Total Return (1Y)	10.98%	30.54%
Total Return (3Y, Annualized)	60.07%	16.90%
Total Return (5Y, Annualized)	39.44%	14.68%

Risk Profile

Drawdown History

HMY

RIO

GSPC

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO), 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 Rio Tinto (RIO). 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 Rio Tinto (RIO)
Metric	HMY	RIO
Volatility (1Y, Annualized)	63.56%	30.72%
Beta (5Y)	1.08	0.63
Max Drawdown (5Y)	-62.48%	-35.25%
Avg. Volume (3M)	3.68M	2.35M

Risk-Adjusted Performance

Risk-Return Positioning

HMY and RIO 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 Rio Tinto (RIO)
Metric	HMY	RIO
Sharpe Ratio (1Y)	0.11	0.85
Sortino Ratio (1Y)	0.15	1.26

Profitability

ROE (TTM)

Harmony Gold Mining (HMY) at 48.05% sits in the top ROE quartile, while Rio Tinto (RIO) at 19.31% is closer to the peer norm — stronger capital efficiency for HMY.

HMY

Materials industry group

48.05%

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

RIO

Materials industry group

19.31%

Max: 52.88%
Q3: 19.49%
RIO: 19.31%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): 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 Rio Tinto (RIO) at 19.59% 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%

RIO

Materials industry group

19.59%

Max: 38.66%
RIO: 19.59%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

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

Operating Margin (TTM)

Harmony Gold Mining (HMY) at 47.18% operates in the top operating margin quartile, ahead of Rio Tinto (RIO) at 28.05%, which runs around its industry’s norm.

HMY

Materials industry group

47.18%

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

RIO

Materials industry group

28.05%

Max: 66.70%
Q3: 28.92%
RIO: 28.05%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Harmony Gold Mining (HMY) and Rio Tinto (RIO)
Metric	HMY	RIO
ROE (TTM)	48.05%	19.31%
ROA (TTM)	25.06%	8.11%
Net Margin (TTM)	29.57%	19.59%
Operating Margin (TTM)	47.18%	28.05%
Gross Margin (TTM)	49.62%	29.75%

Growth

Revenue Growth

Only one side can be read here: Rio Tinto (RIO) reports revenue growth of 7.42%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Rio Tinto (RIO) reports EPS growth of -13.97%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Harmony Gold Mining (HMY) and Rio Tinto (RIO)
Metric	HMY	RIO
Revenue Growth (YoY)	--	7.42%
Revenue Growth (3Y CAGR)	26.28%	1.24%
EPS Growth (YoY)	--	-13.97%
EPS Growth (3Y CAGR)	81.32%	-7.23%

Financial Strength

Current Ratio (MRQ)

Both Harmony Gold Mining (HMY) at 0.84 and Rio Tinto (RIO) at 1.42 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

HMY

Materials industry group

0.84

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

RIO

Materials industry group

1.42

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
RIO: 1.42
Min: 0.16

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): 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 Rio Tinto (RIO) at 0.32 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

RIO

Materials industry group

0.32

Max: 1.98
Q3: 0.89
Median: 0.47
RIO: 0.32
Q1: 0.13
Min: 0.00

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): 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 Rio Tinto (RIO)
Metric	HMY	RIO
Current Ratio (MRQ)	0.84	1.42
Debt / Equity (MRQ)	0.13	0.32
Net Debt / EBITDA	0.02	0.58

Dividends

Dividend Yield (TTM)

Both Harmony Gold Mining (HMY) at 75.74% and Rio Tinto (RIO) at 5.59% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

HMY

Materials industry group

75.74%

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

RIO

Materials industry group

5.59%

RIO: 5.59%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Harmony Gold Mining (HMY) at 15.28% pays out a band-typical share of earnings, while Rio Tinto (RIO) at 54.46% distributes more than its industry norm — less retained, thinner cover.

HMY

Materials industry group

15.28%

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

RIO

Materials industry group

54.46%

Max: 83.62%
RIO: 54.46%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Harmony Gold Mining (HMY) and Rio Tinto (RIO)
Metric	HMY	RIO
Dividend Yield (TTM)	75.74%	5.59%
Dividend Payout Ratio (TTM)	15.28%	54.46%

Valuation

P/E Ratio (TTM)

Both Harmony Gold Mining (HMY) at 6.27 and Rio Tinto (RIO) at 11.35 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

RIO

Materials industry group

11.35

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
RIO: 11.35
Min: 3.93

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): 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 Rio Tinto (RIO) at 2.20 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

RIO

Materials industry group

2.20

Max: 9.62
Q3: 4.34
RIO: 2.20
Median: 1.87
Q1: 0.73
Min: 0.00

Harmony Gold Mining (HMY) vs. Rio Tinto (RIO): 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 Rio Tinto (RIO) at 2.08 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

RIO

Materials industry group

2.08

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

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

Valuation Metrics

Valuation metrics for Harmony Gold Mining (HMY) and Rio Tinto (RIO)
Metric	HMY	RIO
P/E Ratio (TTM)	6.27	11.35
P/S Ratio (TTM)	0.11	2.20
P/B Ratio (MRQ)	2.34	2.08
Free Cash Flow Yield (TTM)	91.49%	2.64%