Newmont Corporation

BVL:NEM Stock Report

Market Cap: US$50.6b

Newmont Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 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$47.48
Fair Value
4.7% undervalued intrinsic discount
18
Number of Analysts

Below Fair Value: NEM ($45.23) is trading below our estimate of fair value ($47.48)

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 unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NEM. This is calculated by dividing NEM's market cap by their current revenue.
What is NEM's PS Ratio?
PS Ratio3x
SalesUS$16.99b
Market CapUS$50.57b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NEM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.2x
PODERC1 Compañía Minera Poderosa
2.6xn/aS/6.4b
CVERDEC1 Sociedad Minera Cerro VerdeA
3.3x0.7%US$13.9b
2899 Zijin Mining Group
1.3x10.0%HK$459.0b
MINSURI1 Minsur
1.5xn/aS/13.0b
NEM Newmont
3x3.5%US$50.6b

Price-To-Sales vs Peers: NEM is expensive based on its Price-To-Sales Ratio (3x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

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

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
IEQSAI1 Industrias Electro Químicas
0.05xn/aUS$5.29m
TV Trevali Mining
0.05xn/aUS$15.83m
MIRL Minera IRL
0.1xn/aUS$5.32m
No more companies available in this PS range
NEM 3.0xIndustry Avg. 0.7xNo. of Companies4PS00.61.21.82.43+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NEM is expensive based on its Price-To-Sales Ratio (3x) compared to the South American Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is NEM'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.

NEM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3x
Fair PS Ratio3.7x

Price-To-Sales vs Fair Ratio: NEM is good value based on its Price-To-Sales Ratio (3x) compared to the estimated Fair Price-To-Sales Ratio (3.7x).

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$44.95
US$52.91
+17.7%
12.2%US$71.26US$45.00n/a18
Feb ’26US$42.21
US$52.91
+25.4%
12.2%US$71.26US$45.00n/a18
Jan ’26US$37.20
US$54.13
+45.5%
11.8%US$71.26US$45.00n/a17
Dec ’25US$42.23
US$55.70
+31.9%
13.1%US$72.74US$45.00n/a18
Nov ’25US$45.70
US$57.65
+26.1%
12.6%US$72.74US$45.00n/a18
Oct ’25US$54.00
US$57.47
+6.4%
12.1%US$67.55US$45.00n/a17
Sep ’25US$53.24
US$53.15
-0.2%
10.6%US$61.00US$38.29n/a19
Aug ’25US$48.30
US$52.31
+8.3%
10.7%US$61.00US$38.29n/a20
Jul ’25US$42.85
US$49.45
+15.4%
9.5%US$58.00US$38.29n/a20
Jun ’25US$43.00
US$47.85
+11.3%
9.2%US$54.00US$38.29n/a20
May ’25US$43.65
US$46.53
+6.6%
9.3%US$54.00US$38.29n/a21
Apr ’25US$36.10
US$45.18
+25.1%
14.7%US$60.00US$33.31n/a21
Mar ’25US$31.12
US$46.33
+48.9%
13.3%US$60.00US$36.00n/a20
Feb ’25US$34.60
US$49.07
+41.8%
11.4%US$60.00US$39.00US$42.2120
Jan ’25US$42.00
US$49.51
+17.9%
13.7%US$62.00US$38.41US$37.2020
Dec ’24US$41.00
US$49.40
+20.5%
13.1%US$60.00US$38.41US$42.2319
Nov ’24US$38.30
US$49.82
+30.1%
13.1%US$60.00US$38.00US$45.7018
Oct ’24US$39.39
US$53.31
+35.3%
11.0%US$63.00US$42.00US$54.0018
Sep ’24US$39.39
US$54.03
+37.2%
11.2%US$63.00US$42.00US$53.2419
Aug ’24US$42.53
US$55.03
+29.4%
9.1%US$63.00US$44.00US$48.3019
Jul ’24US$42.53
US$57.26
+34.6%
11.3%US$67.00US$43.81US$42.8520
Jun ’24US$43.90
US$57.50
+31.0%
11.0%US$67.00US$42.62US$43.0020
May ’24US$49.86
US$57.05
+14.4%
10.6%US$67.00US$42.76US$43.6520
Apr ’24US$47.00
US$56.54
+20.3%
9.8%US$70.00US$48.00US$36.1019
Mar ’24US$47.00
US$56.75
+20.7%
8.3%US$70.00US$50.00US$31.1219
Feb ’24US$48.00
US$55.96
+16.6%
7.6%US$64.00US$46.00US$34.6019
Analyst Price Target
Consensus Narrative from 18 Analysts
US$53.37
Fair Value
15.3% undervalued intrinsic discount
18
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 Analysis2025/02/07 06:43
End of Day Share Price 2025/02/07 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.

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 65 analysts. 12 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