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South African (JSE) Gold Industry Analysis

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies3
  • 7D4.6%
  • 3M11.1%
  • 1Y184.9%
  • YTDn/a

In the last week, the Gold industry is up 4.6%, with all of the companies up. This means that the industry has gained 185% over the past year. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Dec 2025R916.9bR183.3bR45.8b18.9x20x5x
Mon, 24 Nov 2025R776.7bR187.8bR47.1b15.4x16.5x4.1x
Wed, 22 Oct 2025R893.3bR187.9bR47.1b16.3x19x4.8x
Fri, 19 Sep 2025R742.5bR187.6bR47.0b14.5x15.8x4x
Sun, 17 Aug 2025R641.0bR158.6bR32.4b18.8x19.8x4x
Tue, 15 Jul 2025R547.2bR160.3bR32.8b16.3x16.7x3.4x
Thu, 12 Jun 2025R542.9bR159.4bR32.6b16.2x16.7x3.4x
Sat, 10 May 2025R541.1bR161.9bR33.2b16.4x16.3x3.3x
Mon, 07 Apr 2025R503.7bR166.5bR34.3b14.7x14.7x3x
Wed, 05 Mar 2025R424.8bR158.0bR31.7b13.4x13.4x2.7x
Fri, 31 Jan 2025R409.7bR141.9bR21.0b19.1x19.5x2.9x
Sun, 29 Dec 2024R321.5bR142.8bR21.1b14.6x15.2x2.3x
Tue, 26 Nov 2024R343.7bR140.2bR20.7b15.9x16.6x2.5x
Thu, 24 Oct 2024R415.0bR138.9bR20.5b19.5x20.2x3x
Sat, 21 Sep 2024R347.1bR137.5bR20.3b16.5x17.1x2.5x
Mon, 19 Aug 2024R376.4bR137.8bR21.8b16.6x17.3x2.7x
Wed, 17 Jul 2024R395.1bR138.6bR21.9b17.3x18x2.8x
Fri, 14 Jun 2024R358.1bR140.4bR22.2b14.1x16.1x2.6x
Sun, 12 May 2024R389.4bR140.4bR22.2b16.6x17.6x2.8x
Tue, 09 Apr 2024R394.3bR141.3bR22.3b16.6x17.7x2.8x
Thu, 07 Mar 2024R336.4bR142.2bR22.5b13.9x15x2.4x
Sat, 03 Feb 2024R322.5bR130.9bR17.3b17.7x18.7x2.5x
Mon, 01 Jan 2024R322.4bR128.3bR16.9b18x19.1x2.5x
Wed, 29 Nov 2023R314.7bR129.6bR17.1b17.3x18.4x2.4x
Fri, 27 Oct 2023R288.8bR131.3bR17.3b15.1x16.7x2.2x
Sun, 24 Sep 2023R400.3bR215.2bR17.9b16.6x22.4x1.9x
Tue, 22 Aug 2023R366.9bR212.0bR12.6b94x29x1.7x
Thu, 20 Jul 2023R480.2bR201.1bR15.5b36.1x31x2.4x
Sat, 17 Jun 2023R487.8bR203.8bR17.7b27x27.5x2.4x
Mon, 15 May 2023R538.7bR213.7bR18.9b27.8x28.6x2.5x
Wed, 12 Apr 2023R506.2bR205.5bR17.9b28.5x28.3x2.5x
Fri, 10 Mar 2023R318.8bR206.8bR18.1b17.8x17.6x1.5x
Sun, 05 Feb 2023R361.0bR194.1bR24.6b13.1x14.7x1.9x
Tue, 03 Jan 2023R331.2bR189.9bR23.9b12.3x13.9x1.7x
Price to Earnings Ratio

13.9x


Total Market Cap: R331.2bTotal Earnings: R23.9bTotal Revenue: R189.9bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Gold Industry Price to Earnings3Y Average 18.7x20242025
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 Market1.98%
Materials6.08%
Metals and Mining6.33%
Gold4.57%
Aluminum20.19%
Precious Metals and Minerals8.66%
Diversified Metals and Mining3.58%
Copper3.28%
Steel2.81%
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 FieldsR771.884.1%
+R27.3b		207.8%PE22x
HAR Harmony Gold MiningR363.006.0%
+R12.8b		132.1%PE15.7x
RNG Randgold & ExplorationR0.711.4%
+R715.9k		-7.8%PB1.1x

Latest News

GFI
R771.88
Gold Fields
7D
4.1%
1Y
207.8%

Gold Fields Limited's (JSE:GFI) Price In Tune With Earnings

Dec 27
Gold Fields Limited's (JSE:GFI) Price In Tune With Earnings
HAR
R363.00
Harmony Gold Mining
7D
6.0%
1Y
132.1%

HAR: Higher Multiple And Copper Project Will Eventually Disappoint Expectations

Analysts have raised their price target for Harmony Gold Mining from approximately $220 to about $270 per share. They cite a higher discount rate, lower long term revenue growth and profit margin assumptions, and a rerating to a richer future P/E multiple that together better reflect the company’s risk profile and earnings quality.
RNG
R0.71
Randgold & Exploration
7D
1.4%
1Y
-7.8%