The gold price continues to fall. At around USD 4,200 per ounce now, it is down 13% since we last updated our assumed prices. ETF outflows have accelerated, consistent with their tendency to be procyclical and the marginal buyers or sellers. Solid central bank buying partially offsets this.
Newmont is the world’s largest gold miner, with copper and other byproducts providing some diversification, representing around 15% of forecast midcycle revenue from 2030.
Bigger is not always better in gold mining. Newmont's operations span four continents, increasing complexity and difficulty managing the assets.
|
Metric
|
NEM
|
B
|
AEM
|
|---|---|---|---|
Price/Earnings (Normalized) | 11.10 | 12.01 | 14.74 |
Price/Book Value | 2.92 | 2.26 | 2.88 |
Price/Sales | 4.18 | 3.28 | 5.58 |
Price/Cash Flow | 8.45 | 6.75 | 10.75 |
|
Metric
|
NEM
|
B
|
AEM
|
|---|---|---|---|
Quick Ratio | 1.89 | 2.27 | 2.03 |
Current Ratio | 2.44 | 3.06 | 3.15 |
Interest Coverage | 70.83 | 24.78 | 299.13 |
|
Metric
|
NEM
|
B
|
AEM
|
|---|---|---|---|
Return on Assets (Normalized) | 16.75% | 14.70% | 15.54% |
Return on Equity (Normalized) | 28.38% | 28.39% | 21.71% |
Return on Invested Capital (Normalized) | 23.52% | 19.24% | 20.84% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| Zijin Mining Group Co Ltd ADR
ZIJMY
| — | LOCK|p@>> | $107B | |||
| Zijin Mining Group Co Ltd Class H
ZIJMF
| — | LOCK|<##BC | $107B | |||
| Newmont Corp Chess Depository Interest
NEMCL
| — | LOCK|Yn | $102B | |||
| Agnico Eagle Mines Ltd
AEM
| LOCK|N$XB<y | LOCK|DJ | $73B | |||
| Barrick Mining Corp
B
| LOCK|pnx%yp | LOCK|n# | $61B | |||
| Wheaton Precious Metals Corp
WPM
| LOCK|&Q%ThlR | LOCK|^#kH | $50B | |||
| Anglogold Ashanti PLC
AU
| — | LOCK|TPN | $42B | |||
| Franco-Nevada Corp
FNV
| — | LOCK|%K> | $40B | |||
| Kinross Gold Corp
KGC
| LOCK|SS$%<Hg | LOCK|MN? | $29B |
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United States