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South African (JSE) Gold Industry Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies3
  • 7D3.3%
  • 3M-23.7%
  • 1Y24.0%
  • YTDn/a

Over the last 7 days, the Gold industry has risen 3.4%, driven by gains from Gold Fields of 4.2%. In the last 12 months, the industry was up 25%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026R676.8bR223.5bR74.3b9.5x9.1x3x
Sun, 31 May 2026R759.2bR223.1bR74.1b10.6x10.2x3.4x
Tue, 28 Apr 2026R850.1bR225.6bR75.2b11.1x11.3x3.8x
Thu, 26 Mar 2026R808.0bR229.4bR76.7b10.2x10.5x3.5x
Sat, 21 Feb 2026R974.8bR179.1bR44.6b19.9x21.9x5.4x
Mon, 19 Jan 2026R960.6bR181.5bR45.3b19.8x21.2x5.3x
Wed, 17 Dec 2025R874.1bR183.8bR45.9b17.9x19x4.8x
Fri, 14 Nov 2025R844.4bR185.4bR46.4b17x18.2x4.6x
Sun, 12 Oct 2025R818.8bR188.5bR47.3b16.3x17.3x4.3x
Tue, 09 Sep 2025R720.9bR188.5bR47.3b14.1x15.2x3.8x
Thu, 07 Aug 2025R661.6bR159.5bR32.6b19.3x20.3x4.1x
Sat, 05 Jul 2025R545.2bR158.6bR32.4b16.3x16.8x3.4x
Mon, 02 Jun 2025R522.0bR160.6bR32.9b15.7x15.9x3.2x
Wed, 30 Apr 2025R544.9bR163.6bR33.6b16.4x16.2x3.3x
Fri, 28 Mar 2025R488.0bR162.0bR33.2b14.5x14.7x3x
Sun, 23 Feb 2025R434.8bR156.9bR31.4b14.2x13.8x2.8x
Tue, 21 Jan 2025R372.4bR142.3bR21.0b17x17.7x2.6x
Thu, 19 Dec 2024R326.6bR140.2bR20.7b15.1x15.8x2.3x
Sat, 16 Nov 2024R323.3bR140.8bR20.8b15x15.5x2.3x
Mon, 14 Oct 2024R350.4bR137.2bR20.2b16.7x17.3x2.6x
Wed, 11 Sep 2024R311.7bR139.6bR20.6b14.6x15.1x2.2x
Fri, 09 Aug 2024R368.6bR140.1bR22.1b15.9x16.7x2.6x
Sun, 07 Jul 2024R368.7bR139.2bR22.0b16x16.8x2.6x
Tue, 04 Jun 2024R365.3bR140.8bR22.3b15.7x16.4x2.6x
Thu, 02 May 2024R380.4bR141.5bR22.4b16.1x17x2.7x
Sat, 30 Mar 2024R369.5bR142.5bR22.5b15.5x16.4x2.6x
Mon, 26 Feb 2024R284.2bR136.1bR18.7b14.7x15.2x2.1x
Wed, 24 Jan 2024R293.4bR131.5bR17.4b16x16.9x2.2x
Fri, 22 Dec 2023R339.0bR128.7bR16.9b18.5x20x2.6x
Sun, 19 Nov 2023R277.0bR128.5bR16.9b15.4x16.4x2.2x
Tue, 17 Oct 2023R293.2bR130.4bR17.2b15.4x17.1x2.2x
Thu, 14 Sep 2023R399.9bR215.7bR17.9b17.1x22.3x1.9x
Sat, 12 Aug 2023R409.4bR210.9bR13.6b104.5x30.1x1.9x
Mon, 10 Jul 2023R432.5bR209.3bR16.3b31.2x26.5x2.1x
Price to Earnings Ratio

26.5x


Total Market Cap: R432.5bTotal Earnings: R16.3bTotal Revenue: R209.3bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Gold Industry Price to Earnings3Y Average 17.3x202420252026
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 66% per year over the last three years.
  • Revenues for these companies have grown 2.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does South African Gold compare with similar industries?

ZA Market0.22%
Materials0.51%
Metals and Mining0.57%
Gold3.26%
Aluminum1.86%
Copper0%0
Precious Metals and Minerals-1.24%
Diversified Metals and Mining-2.52%
Steel-3.74%
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?

CompanyLast Price7D1YValuation
GFI Gold FieldsR573.183.9%
+R19.2b		32.5%PE8.8x
HAR Harmony Gold MiningR261.961.3%
+R2.2b		3.2%PE10.1x

Latest News

HAR
R261.96
Harmony Gold Mining
7D
1.3%
1Y
3.2%
Narrative Update • Jul 01

HAR: New Project Progress And Margin Strength Will Support Further Upside

Analysts have trimmed their ZAR fair value estimate for Harmony Gold Mining from ZAR500 to ZAR450, citing refreshed assumptions for revenue growth, profit margins, discount rate and future P/E that slightly shift the balance of risks and potential returns. What’s in the News for Harmony Gold Mining Jelani Resources, the joint venture vehicle between Harmony Gold Mining subsidiaries and Lexington Gold, received formal acceptance of its Mining Right application for the Jelani JV Project from South Africa’s Department of Mineral and Petroleum Resources.
GFI
R573.18
Gold Fields
7D
3.9%
1Y
32.5%
Narrative Update • Jun 22

GFI: Higher Gold Price Assumptions Will Support Future Re Rating

Analysts have trimmed their price target for Gold Fields from ZAR1,263.00 to about ZAR1,217.40, citing updated gold price forecasts, slight adjustments to discount rate assumptions, and expectations for revenue growth, profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research on Gold Fields reflects a mix of upgraded ratings and adjusted targets, with several bullish analysts highlighting potential upside linked to revised gold price assumptions and the company’s ability to execute on its plans.
RNG
R1.96
Randgold & Exploration
7D
-15.5%
1Y
148.1%