Harmony Gold Mining (HMY) vs Pan American Silver (PAAS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Pan American Silver (PAAS) has outperformed Harmony Gold Mining (HMY) over the past year, gaining 20.0% versus a loss of 6.8%. Over five years, HMY leads with a +337.3% price change compared with +83.8% for PAAS. Pan American Silver is the larger company by market cap ($19.18 billion vs $10.57 billion), about 1.8 times the size.
On valuation, Harmony Gold Mining trades at a lower forward P/E (5.1x vs 10.1x for Pan American Silver). Harmony Gold Mining offers the higher dividend yield (75.83% vs 1.34%). Pan American Silver converts more of its revenue into profit, with a net margin of 27.1% versus -20.3%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | HMY | PAAS |
|---|---|---|
| Share price | $16.88 | $46.27 |
| Market cap | $10.57B | $19.18B |
| 1-day change | +3.06% | +2.12% |
| YTD return | -15.18% | -10.69% |
| 1-year return | -6.79% | +20.03% |
| 5-year return | +337.31% | +83.83% |
| P/E ratio (TTM) | 6.16 | 13.41 |
| Forward P/E | 5.11 | 10.14 |
| EPS (TTM) | $2.74 | $3.45 |
| Dividend yield | 75.83% | 1.34% |
| Annual dividend | $12.80 | $0.62 |
| Revenue (latest FY) | $1.58B | $3.62B |
| Revenue growth (YoY) | +11.86% | +28.38% |
| Net income (latest FY) | $-321.00M | $980.00M |
| Gross margin | -13.64% | 38.82% |
| Operating margin | -21.15% | 34.07% |
| Net margin | -20.27% | 27.08% |
| 52-week high | $26.06 | $69.99 |
| 52-week low | $13.03 | $33.08 |
| Distance from 52-week high | -35.23% | -33.89% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +31.46% | +39.46% |
| Average volume | 3.57M | 4.02M |
| Shares outstanding | 626.11M | 414.62M |
| Employees | — | 9,348 |
| Sector | Basic Materials | Basic Materials |
| Industry | Precious Metals | Precious Metals |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- PAAS has outperformed HMY by 26.8 percentage points over the past year.
- Pan American Silver trades at a higher earnings multiple (13.4x vs 6.2x trailing P/E).
- Harmony Gold Mining offers a meaningfully higher dividend yield (75.83% vs 1.34%).
- Pan American Silver is more profitable, keeping 27.1 cents of every revenue dollar as net income versus -20.3 cents for Harmony Gold Mining.
- Pan American Silver grew revenue faster in its latest fiscal year (+28.38% vs +11.86%).
About Harmony Gold Mining
HMY stock →Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of mineral properties in South Africa, Papua New Guinea, and Australia. The company explores for gold, uranium, silver, and copper deposits.
Basic Materials · Precious Metals
About Pan American Silver
PAAS stock →Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of mines in Chile, Peru, Brazil, Mexico, Canada, Argentina, Bolivia, and Guatemala.
Basic Materials · Precious Metals · 9,348 employees
HMY vs PAAS FAQ
Which is bigger, Harmony Gold Mining or Pan American Silver?
Pan American Silver (PAAS) is larger, with a market capitalization of $19.18B compared with $10.57B for Harmony Gold Mining (HMY).
Which stock has performed better over the past year, HMY or PAAS?
PAAS returned +20.03% over the past 12 months, compared with -6.79% for HMY (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HMY or PAAS?
HMY has the lower trailing P/E at 6.2, versus 13.4 for PAAS. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Harmony Gold Mining or Pan American Silver?
Harmony Gold Mining has the higher yield at 75.83%, compared with 1.34% for Pan American Silver.
Are Harmony Gold Mining and Pan American Silver in the same industry?
Yes. Both are classified in the Precious Metals industry within the Basic Materials sector.