South African (JSE) Gold Industry Analysis

UpdatedDec 23, 2025

DataAggregated Company Financials

Companies3

7D6.1%
3M9.4%
1Y191.8%
YTDn/a

All of the companies in the Gold industry have been up over the last week, with the industry up 6.1%. In the last 12 months, the industry was up 192%. Looking forward, earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

Has the South African Gold Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 23 Dec 2025	R927.1b	R183.5b	R45.9b	19x	20.2x	5.1x
Thu, 20 Nov 2025	R827.2b	R186.8b	R46.8b	16.3x	17.7x	4.4x
Sat, 18 Oct 2025	R889.5b	R187.7b	R47.0b	17.8x	18.9x	4.7x
Mon, 15 Sep 2025	R749.7b	R187.7b	R47.1b	14.7x	15.9x	4x
Wed, 13 Aug 2025	R661.7b	R158.6b	R32.4b	19.3x	20.4x	4.2x
Fri, 11 Jul 2025	R533.9b	R159.4b	R32.6b	16x	16.4x	3.3x
Sun, 08 Jun 2025	R554.4b	R159.6b	R32.7b	16.6x	17x	3.5x
Tue, 06 May 2025	R557.2b	R162.1b	R33.3b	16.9x	16.8x	3.4x
Thu, 03 Apr 2025	R553.2b	R165.1b	R34.0b	16.3x	16.3x	3.4x
Sat, 01 Mar 2025	R420.6b	R158.1b	R31.7b	12.8x	13.3x	2.7x
Mon, 27 Jan 2025	R401.0b	R141.6b	R20.9b	18.4x	19.2x	2.8x
Wed, 25 Dec 2024	R324.6b	R142.5b	R21.0b	14.8x	15.4x	2.3x
Fri, 22 Nov 2024	R350.4b	R140.3b	R20.7b	16.3x	16.9x	2.5x
Sun, 20 Oct 2024	R402.2b	R138.1b	R20.4b	19x	19.7x	2.9x
Tue, 17 Sep 2024	R337.8b	R138.2b	R20.4b	16x	16.6x	2.4x
Thu, 15 Aug 2024	R367.6b	R138.8b	R21.9b	16.1x	16.8x	2.6x
Sat, 13 Jul 2024	R371.2b	R138.3b	R21.9b	16.2x	17x	2.7x
Mon, 10 Jun 2024	R361.6b	R142.3b	R22.5b	15.2x	16.1x	2.5x
Wed, 08 May 2024	R363.8b	R140.7b	R22.2b	15.5x	16.4x	2.6x
Fri, 05 Apr 2024	R390.2b	R141.8b	R22.4b	16.4x	17.4x	2.8x
Sun, 03 Mar 2024	R294.6b	R143.4b	R22.7b	12.1x	13x	2.1x
Tue, 30 Jan 2024	R313.9b	R130.5b	R17.2b	17.3x	18.3x	2.4x
Thu, 28 Dec 2023	R345.1b	R128.6b	R16.9b	18.9x	20.4x	2.7x
Sat, 25 Nov 2023	R293.3b	R130.7b	R17.2b	16.1x	17x	2.2x
Mon, 23 Oct 2023	R303.0b	R131.3b	R17.3b	15.9x	17.5x	2.3x
Wed, 20 Sep 2023	R394.6b	R216.9b	R18.0b	16.4x	21.9x	1.8x
Fri, 18 Aug 2023	R368.1b	R212.5b	R13.7b	95.8x	26.8x	1.7x
Sun, 16 Jul 2023	R478.1b	R202.6b	R15.6b	35.3x	30.6x	2.4x
Tue, 13 Jun 2023	R494.0b	R207.2b	R18.1b	26.7x	27.3x	2.4x
Thu, 11 May 2023	R554.3b	R209.9b	R18.4b	29.7x	30.1x	2.6x
Sat, 08 Apr 2023	R492.8b	R204.1b	R17.8b	28x	27.8x	2.4x
Mon, 06 Mar 2023	R323.9b	R203.3b	R17.7b	18.4x	18.3x	1.6x
Wed, 01 Feb 2023	R365.5b	R193.7b	R24.6b	13.3x	14.9x	1.9x
Fri, 30 Dec 2022	R343.4b	R189.4b	R23.8b	12.8x	14.4x	1.8x

Price to Earnings Ratio

14.4x

Fri, 30 Dec 2022

Current Industry PE

There are only 3 companies in the South African Gold industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.

Past Earnings Growth

The earnings for companies in the Gold industry have grown 24% per year over the last three years, while revenues have remained mostly flat.
This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does South African Gold compare with similar industries?


ZA Market	2.76%
Materials	7.81%
Metals and Mining	8.33%
Gold	6.07%
Precious Metals and Minerals	11.53%
Diversified Metals and Mining	5.15%
Steel	3.26%
Copper	1.69%
Aluminum	-5.65%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
GFI Gold Fields	R771.88	4.3% +R28.5b	203.8%	PE22x
HAR Harmony Gold Mining	R359.83	5.8% +R12.3b	129.7%	PE15.6x
RNG Randgold & Exploration	R0.71	18.3% +R7.9m	-6.6%	PB1.1x