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Should Value Investors Buy Harmony Gold (HMY) Stock?
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The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One stock to keep an eye on is Harmony Gold (HMY - Free Report) . HMY is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 7.15. This compares to its industry's average Forward P/E of 12.39. HMY's Forward P/E has been as high as 13.79 and as low as 4.42, with a median of 7.21, all within the past year.
Investors should also note that HMY holds a PEG ratio of 0.14. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. HMY's industry has an average PEG of 0.35 right now. Over the past 52 weeks, HMY's PEG has been as high as 0.68 and as low as 0.08, with a median of 0.28.
These are only a few of the key metrics included in Harmony Gold's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, HMY looks like an impressive value stock at the moment.
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Should Value Investors Buy Harmony Gold (HMY) Stock?
The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One stock to keep an eye on is Harmony Gold (HMY - Free Report) . HMY is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 7.15. This compares to its industry's average Forward P/E of 12.39. HMY's Forward P/E has been as high as 13.79 and as low as 4.42, with a median of 7.21, all within the past year.
Investors should also note that HMY holds a PEG ratio of 0.14. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. HMY's industry has an average PEG of 0.35 right now. Over the past 52 weeks, HMY's PEG has been as high as 0.68 and as low as 0.08, with a median of 0.28.
These are only a few of the key metrics included in Harmony Gold's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, HMY looks like an impressive value stock at the moment.