Newmont Corporation

NYSE:NEM Stock Report

Market Cap: US$53.8b

Newmont Valuation

Is NEM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NEM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$51.77
Fair Value
8.5% undervalued intrinsic discount
16
Number of Analysts

Below Fair Value: NEM ($47.36) is trading below our estimate of fair value ($51.77)

Significantly Below Fair Value: NEM is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NEM?

Key metric: As NEM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NEM. This is calculated by dividing NEM's market cap by their current earnings.
What is NEM's PE Ratio?
PE Ratio16.3x
EarningsUS$3.28b
Market CapUS$53.84b

Price to Earnings Ratio vs Peers

How does NEM's PE Ratio compare to its peers?

The above table shows the PE ratio for NEM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36x
AEM Agnico Eagle Mines
27.6x-2.3%US$52.9b
AU AngloGold Ashanti
17.8x12.0%US$18.4b
RGLD Royal Gold
31.1x14.5%US$10.2b
CDE Coeur Mining
67.3x38.5%US$4.1b
NEM Newmont
16.3x6.6%US$53.8b

Price-To-Earnings vs Peers: NEM is good value based on its Price-To-Earnings Ratio (16.3x) compared to the peer average (36x).

Price to Earnings Ratio vs Industry

How does NEM's PE Ratio compare vs other companies in the US Metals and Mining Industry?

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AUCO.Y Polymetal International
4xn/aUS$899.89m
MSB Mesabi Trust
3.9xn/aUS$367.49m
VITF.F Victoria Gold
2.1xn/aUS$23.43m
BMXI Brookmount Explorations
0.7xn/aUS$6.62m
NEM 16.3xIndustry Avg. 24.0xNo. of Companies8PE020406080100+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NEM is good value based on its Price-To-Earnings Ratio (16.3x) compared to the US Metals and Mining industry average (24x).

Price to Earnings Ratio vs Fair Ratio

What is NEM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NEM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.3x
Fair PE Ratio22.5x

Price-To-Earnings vs Fair Ratio: NEM is good value based on its Price-To-Earnings Ratio (16.3x) compared to the estimated Fair Price-To-Earnings Ratio (22.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NEM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$47.36
US$53.44
+12.8%
10.3%US$65.43US$45.00n/a16
Mar ’26US$42.84
US$52.54
+22.6%
11.1%US$65.43US$45.00n/a18
Feb ’26US$42.72
US$52.91
+23.9%
12.2%US$71.26US$45.00n/a18
Jan ’26US$37.22
US$54.13
+45.4%
11.8%US$71.26US$45.00n/a17
Dec ’25US$41.94
US$55.70
+32.8%
13.1%US$72.74US$45.00n/a18
Nov ’25US$45.26
US$57.65
+27.4%
12.6%US$72.74US$45.00n/a18
Oct ’25US$54.14
US$57.47
+6.2%
12.1%US$67.55US$45.00n/a17
Sep ’25US$53.39
US$53.15
-0.5%
10.6%US$61.00US$38.29n/a19
Aug ’25US$49.55
US$52.31
+5.6%
10.7%US$61.00US$38.29n/a20
Jul ’25US$41.65
US$49.45
+18.7%
9.5%US$58.00US$38.29n/a20
Jun ’25US$41.94
US$47.85
+14.1%
9.2%US$54.00US$38.29n/a20
May ’25US$40.58
US$46.53
+14.7%
9.3%US$54.00US$38.29n/a21
Apr ’25US$36.43
US$45.18
+24.0%
14.7%US$60.00US$33.31n/a21
Mar ’25US$31.94
US$46.33
+45.1%
13.3%US$60.00US$36.00US$42.8420
Feb ’25US$35.61
US$49.07
+37.8%
11.4%US$60.00US$39.00US$42.7220
Jan ’25US$41.39
US$49.51
+19.6%
13.7%US$62.00US$38.41US$37.2220
Dec ’24US$41.20
US$49.40
+19.9%
13.1%US$60.00US$38.41US$41.9419
Nov ’24US$37.27
US$49.82
+33.7%
13.1%US$60.00US$38.00US$45.2618
Oct ’24US$36.95
US$53.31
+44.3%
11.0%US$63.00US$42.00US$54.1418
Sep ’24US$39.32
US$54.03
+37.4%
11.2%US$63.00US$42.00US$53.3919
Aug ’24US$41.71
US$55.03
+31.9%
9.1%US$63.00US$44.00US$49.5519
Jul ’24US$42.66
US$57.26
+34.2%
11.3%US$67.00US$43.81US$41.6520
Jun ’24US$42.47
US$57.50
+35.4%
11.0%US$67.00US$42.62US$41.9420
May ’24US$46.93
US$57.05
+21.6%
10.6%US$67.00US$42.76US$40.5820
Apr ’24US$49.02
US$56.54
+15.3%
9.8%US$70.00US$48.00US$36.4319
Mar ’24US$44.10
US$56.75
+28.7%
8.3%US$70.00US$50.00US$31.9419
Analyst Price Target
Consensus Narrative from 16 Analysts
US$53.44
Fair Value
11.4% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/21 21:29
End of Day Share Price 2025/03/21 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Newmont Corporation is covered by 63 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David ColemanArgus Research Company
Farooq HamedBarclays
Mollie UrquhartBarrenjoey Markets Pty Limited