Newmont Corporation

NEM

Gold · Basic Materials

Price

$89.70

-1.13 (-1.24%)

Market Cap

$95.76B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+38.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 801.0M (2021) → 1.11B (2025)

Newmont Corporation is one of the world's largest gold mining companies. It digs gold out of the ground at mines located across North America, South America, Africa, and Australia, then sells that gold to banks, jewelers, and industrial buyers. Newmont also produces silver, zinc, and copper as byproducts of its mining operations.

The company makes money by selling the metals it mines, so its revenue rises and falls with commodity prices — especially the price of gold. With operations on five continents and a gross margin above 55%, Newmont benefits from large, long-life mines that are expensive for competitors to replicate. The company's biggest risk is that gold prices can drop sharply, squeezing profits even if production stays steady, and mining operations face ongoing costs from energy, labor, and environmental regulations that can erode margins over time.

Winston Score History

Politician Trades

6 trades / 12mo

3 Congressional buys and 3 sells on NEM in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+47.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+79.2% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$166M/ year

↓ Declining (-16% vs prior year)

0.8% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$8.8B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Newmont Corporation grew revenue 47% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

62.4%

Premium pricing power — 62.4% gross margin

Operating Margin

60.6%

Excellent — 60.6% operating margin

ROCE

10.9%

Below par — 10.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+25.1%

Fast-growing sales (25.1% YoY)

EPS YoY

+73.5%

Earnings growing fast (73.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

143%

Turns 143% of profit into real cash

FCF Margin

32.0%

Converts sales into free cash efficiently (32.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.15

Conservative — low debt load (0.15)

Interest Cover

67.95x

Comfortably covers interest (68.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

11.6x

Attractive valuation — P/E 11.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+3.9

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (11.6 → 7.7)

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Dividends

Dividend Yield

1.06%

Small dividend — 1.06% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+2.0%

Dividend flat

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