Harmony Gold Mining (HMY) vs Royal Gold (RGLD)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 10, 2026.
Summary
Royal Gold (RGLD) has outperformed Harmony Gold Mining (HMY) over the past year, gaining 22.6% versus a loss of 6.8%. Over five years, HMY leads with a +337.3% price change compared with +138.7% for RGLD. Royal Gold is the larger company by market cap ($20.02 billion vs $10.57 billion), about 1.9 times the size.
On valuation, Harmony Gold Mining trades at a lower forward P/E (5.1x vs 18.4x for Royal Gold). Harmony Gold Mining offers the higher dividend yield (75.83% vs 0.40%). Royal Gold converts more of its revenue into profit, with a net margin of 45.2% 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 | RGLD |
|---|---|---|
| Share price | $16.88 | $236.23 |
| Market cap | $10.57B | $20.02B |
| 1-day change | +3.06% | +2.18% |
| YTD return | -15.18% | +6.27% |
| 1-year return | -6.79% | +22.57% |
| 5-year return | +337.31% | +138.71% |
| P/E ratio (TTM) | 6.16 | 26.16 |
| Forward P/E | 5.11 | 18.37 |
| EPS (TTM) | $2.74 | $9.03 |
| Dividend yield | 75.83% | 0.40% |
| Annual dividend | $12.80 | $0.95 |
| Revenue (latest FY) | $1.58B | $1.03B |
| Revenue growth (YoY) | +11.86% | +43.24% |
| Net income (latest FY) | $-321.00M | $466.28M |
| Gross margin | -13.64% | 69.32% |
| Operating margin | -21.15% | 61.93% |
| Net margin | -20.27% | 45.25% |
| 52-week high | $26.06 | $306.25 |
| 52-week low | $13.03 | $168.88 |
| Distance from 52-week high | -35.23% | -22.86% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +31.46% | +31.16% |
| Average volume | 3.57M | 685.49K |
| Shares outstanding | 626.11M | 84.73M |
| Employees | — | 39 |
| Sector | Basic Materials | Industrials |
| 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
- RGLD has outperformed HMY by 29.4 percentage points over the past year.
- Royal Gold trades at a higher earnings multiple (26.2x vs 6.2x trailing P/E).
- Harmony Gold Mining offers a meaningfully higher dividend yield (75.83% vs 0.40%).
- Royal Gold is more profitable, keeping 45.2 cents of every revenue dollar as net income versus -20.3 cents for Harmony Gold Mining.
- Royal Gold grew revenue faster in its latest fiscal year (+43.24% vs +11.86%).
- The two companies sit in different sectors: Harmony Gold Mining in Basic Materials and Royal Gold in Industrials.
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 Royal Gold
RGLD stock →Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests in North America, South and Central America, Europe, the Middle East, Africa, and the Australia Pacific. It operates through Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments.
Industrials · Precious Metals · 39 employees
HMY vs RGLD FAQ
Which is bigger, Harmony Gold Mining or Royal Gold?
Royal Gold (RGLD) is larger, with a market capitalization of $20.02B compared with $10.57B for Harmony Gold Mining (HMY).
Which stock has performed better over the past year, HMY or RGLD?
RGLD returned +22.57% 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 RGLD?
HMY has the lower trailing P/E at 6.2, versus 26.2 for RGLD. 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 Royal Gold?
Harmony Gold Mining has the higher yield at 75.83%, compared with 0.40% for Royal Gold.
Are Harmony Gold Mining and Royal Gold in the same industry?
Yes. Both are classified in the Precious Metals industry within the Basic Materials sector.