Newmont Corporation

WBAG:NEWM Stock Report

Market Cap: €40.2b

Newmont Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: NEWM (€36.69) is trading below our estimate of fair value (€57.81)

Significantly Below Fair Value: NEWM is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As NEWM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NEWM. This is calculated by dividing NEWM's market cap by their current revenue.
What is NEWM's PS Ratio?
PS Ratio2.5x
SalesUS$16.99b
Market CapUS$41.96b

Price to Sales Ratio vs Peers

How does NEWM's PS Ratio compare to its peers?

The above table shows the PS ratio for NEWM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.1x
VOE Voestalpine
0.2x0.7%€3.1b
2899 Zijin Mining Group
1.2x10.0%HK$413.0b
AEM Agnico Eagle Mines
5x2.8%US$38.7b
ABX Barrick Gold
2.2x6.6%CA$38.3b
NEWM Newmont
2.5x3.9%€42.0b

Price-To-Sales vs Peers: NEWM is expensive based on its Price-To-Sales Ratio (2.5x) compared to the peer average (2.1x).

Price to Sales Ratio vs Industry

How does NEWM's PS Ratio compare vs other companies in the European Metals and Mining Industry?

38 CompaniesPrice / SalesEstimated GrowthMarket Cap
NEWM 2.5xIndustry Avg. 0.7xNo. of Companies38PS00.81.62.43.24+
38 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NEWM is expensive based on its Price-To-Sales Ratio (2.5x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

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

NEWM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.5x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: NEWM is expensive based on its Price-To-Sales Ratio (2.5x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

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 NEWM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€36.69
€52.79
+43.9%
11.8%€67.95€42.91n/a17
Dec ’25€39.86
€52.64
+32.1%
13.1%€68.74€42.53n/a18
Nov ’25€41.87
€53.00
+26.6%
12.6%€66.88€41.37n/a18
Oct ’25€49.09
€51.92
+5.8%
12.1%€61.02€40.65n/a17
Sep ’25€48.03
€47.94
-0.2%
10.6%€55.03€34.54n/a19
Aug ’25€45.46
€48.18
+6.0%
10.7%€56.18€35.27n/a20
Jul ’25€39.07
€46.21
+18.3%
9.5%€54.20€35.78n/a20
Jun ’25€38.31
€44.31
+15.7%
9.2%€50.00€35.45n/a20
May ’25€38.22
€43.52
+13.9%
9.3%€50.51€35.81n/a21
Apr ’25€33.46
€41.73
+24.7%
14.7%€55.42€30.77n/a21
Mar ’25€29.44
€42.76
+45.2%
13.3%€55.37€33.22n/a20
Feb ’25€32.58
€45.14
+38.6%
11.4%€55.20€35.88n/a20
Jan ’25€37.80
€44.83
+18.6%
13.7%€56.15€34.78n/a20
Dec ’24€37.48
€45.43
+21.2%
13.1%€55.17€35.32€39.8619
Nov ’24€35.28
€46.93
+33.0%
13.1%€56.51€35.79€41.8718
Oct ’24€35.02
€50.43
+44.0%
11.0%€59.59€39.73€49.0918
Sep ’24€36.62
€49.63
+35.5%
11.2%€57.87€38.58€48.0319
Aug ’24€38.28
€49.75
+30.0%
9.1%€56.95€39.78€45.4619
Jul ’24€38.88
€52.47
+35.0%
11.3%€61.40€40.15€39.0720
Jun ’24€39.52
€53.80
+36.1%
11.0%€62.69€39.88€38.3120
May ’24€43.00
€51.77
+20.4%
10.6%€60.80€38.80€38.2220
Apr ’24€44.95
€52.16
+16.0%
9.8%€64.58€44.28€33.4619
Mar ’24€41.42
€53.50
+29.2%
8.3%€65.99€47.14€29.4419
Feb ’24€48.73
€51.48
+5.7%
7.6%€58.87€42.32€32.5819
Jan ’24€44.57
€49.77
+11.7%
11.5%€59.90€36.50€37.8019
Dec ’23€46.72
€50.86
+8.9%
11.8%€61.43€37.43€37.4818

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 01:48
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Newmont Corporation is covered by 63 analysts. 13 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
Ishan MajumdarBaptista Research
Farooq HamedBarclays