Sifting through countless of stocks in the Metals & Mining industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Harmony Gold Mining Company Limited or Pan American Silver Corp. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Harmony Gold Mining Company Limited and Pan American Silver Corp. compare based on key financial metrics to determine which better meets your investment needs.

About Harmony Gold Mining Company Limited and Pan American Silver Corp.

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. It has nine underground operations in the Witwatersrand Basin; the Kraaipan Greenstone Belt; and various surface source operations in South Africa. In addition, the company owns interests in the Hidden Valley, an open-pit gold and silver mine; and the Wafi-Golpu project located in Morobe Province in Papua New Guinea. Further, it holds interest in Eva Copper Project located in Queensland, Australia. Harmony Gold Mining Company Limited was incorporated in 1950 and is based in Randfontein, South Africa.

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. The Silver segment includes the La Colorada, Juanicipio, Cerro Moro, Huaron, and San Vicente mines. The Gold segment comprises the Jacobina, El Peñon, Timmins, Shahuindo, Minera Florida, and Dolores mines. It explores silver, gold, zinc, lead, and copper deposits. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp. in April 1995. Pan American Silver Corp. was incorporated in 1979 and is headquartered in Vancouver, Canada.

Latest Metals & Mining and Harmony Gold Mining Company Limited, Pan American Silver Corp. Stock News

As of April 14, 2026, Harmony Gold Mining Company Limited had a $10.5 billion market capitalization, compared to the Metals & Mining median of $2.0 million. Harmony Gold Mining Company Limited’s stock is NA in 2026, NA in the previous five trading days and up 5.17% in the past year.

Currently, Harmony Gold Mining Company Limited’s price-earnings ratio is 11.0. Harmony Gold Mining Company Limited’s trailing 12-month revenue is $4.9 billion with a 20.1% net profit margin. Year-over-year quarterly sales growth most recently was 36.3%. There are no analysts providing consensus earnings estimates for the current fiscal year. Harmony Gold Mining Company Limited currently has a 3.7% dividend yield.

Currently, Pan American Silver Corp.’s price-earnings ratio is 22.7. Pan American Silver Corp.’s trailing 12-month revenue is $3.6 billion with a 27.0% net profit margin. Year-over-year quarterly sales growth most recently was 44.7%. Analysts expect adjusted earnings to reach $4.688 per share for the current fiscal year. Pan American Silver Corp. currently has a 1.2% dividend yield.

How We Compare Harmony Gold Mining Company Limited and Pan American Silver Corp. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Harmony Gold Mining Company Limited and Pan American Silver Corp.’s stock grades to see how they measure up against one another.

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Harmony Gold Mining Company Limited and Pan American Silver Corp. Growth Grades

Company	Ticker	Growth
Harmony Gold Mining Company Limited	HMY	C
Pan American Silver Corp.	PAAS	C

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Harmony Gold Mining Company Limited has a Growth Score of 59, which is Average. Pan American Silver Corp. has a Growth Score of 59, which is Average.

The Growth Stock Winner: No Clear Winner

Neither Harmony Gold Mining Company Limited or Pan American Silver Corp. has a high enough Growth Grade to be considered a “winner.” Investors who are considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if Harmony Gold Mining Company Limited or Pan American Silver Corp. is the better investment when it comes to sustainable growth.

Harmony Gold Mining Company Limited and Pan American Silver Corp.’s Quality Grades

Company	Ticker	Quality
Harmony Gold Mining Company Limited	HMY	B
Pan American Silver Corp.	PAAS	B

Like the Value Grade, AAII’s A+ Investor Quality Grade comes from the percentile rank of key metrics. Specifically, the Quality Score is the percentile rank of the average of the percentile ranks of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and the F-Score.

The score is variable, meaning it can consider all eight measures or, should any of the eight measures not be valid, the remaining measures that are valid. To be assigned a Quality Score, stocks must have a valid (non-null) measure and corresponding ranking for at least four of the eight quality measures.

The Quality Score is used to assess the underlying “quality” of a particular stock. A higher-quality stock possesses traits associated with upside potential and reduced downside risk. Backtesting of the Quality Grade shows that stocks with higher grades, on average, outperformed stocks with lower grades over the period of 1998 through 2019.

Stocks receive better grades (higher scores) for having higher scores for the quality subcomponents and worse grades (lower scores) for lower scores for the subcomponents.

Harmony Gold Mining Company Limited has a Quality Score of 69, which is Strong. Pan American Silver Corp. has a Quality Score of 72, which is Strong.

The Quality Grade Winner: It’s a Tie!

Looking at the Quality Grade breakdown above, both Harmony Gold Mining Company Limited and Pan American Silver Corp. have a grade of B. For investors who focus solely on a company’s overall quality, you will need to conduct further research into both companies to see if they are a good fit for your portfolio. As a good rule of thumb, you should always analyze multiple factors based on a wide range of metrics before choosing a company to invest in.

Harmony Gold Mining Company Limited and Pan American Silver Corp.’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
Harmony Gold Mining Company Limited	HMY	na
Pan American Silver Corp.	PAAS	B

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

Harmony Gold Mining Company Limited does not have a meaningful Earnings Estimate Score. Pan American Silver Corp. has a Earnings Estimate Score of 72, which is Positive.

The Earnings Estimate Revisions Stock Winner: Undetermined

If you are strictly an investor who focuses on earnings estimate revisions, you may want to add Pan American Silver Corp. to your watch list. However, because only one of the companies in our comparison has a valid Earnings Estimate Revisions Grade, we cannot call it a clear winner. Evaluation of the other grades for both companies is necessary in order to understand which stock is the better investment based on AAII’s proprietary scores and analysis.

Other Harmony Gold Mining Company Limited and Pan American Silver Corp. Grades

In addition to Quality, Growth and Estimate Revisions, A+ Investor also provides grades for Value and Momentum.

Momentum grades help uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming.

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Harmony Gold Mining Company Limited and Pan American Silver Corp. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Harmony Gold Mining Company Limited or Pan American Silver Corp. Stock?

Overall, Harmony Gold Mining Company Limited stock has a Growth Score of 59, Estimate Revisions Score of and Quality Score of 69.

Pan American Silver Corp. stock has a Growth Score of 59, Estimate Revisions Score of 72 and Quality Score of 72.

Comparing Harmony Gold Mining Company Limited and Pan American Silver Corp.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.