AngloGold Ashanti plc vs Freeport-McMoRan Inc., two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in: Freeport-McMoRan carries no usable trailing multiple as one-time items wash through, but its $90B valuation is priced for copper's electrification decade; AngloGold Ashanti at 15.7 times is priced as if gold's run were nearly done. The trailing tables favor the gold miner everywhere: a 32% return on equity against 15.1%, an 11.5% free-cash yield against 2%, a 32.1% net margin against 18%. Freeport carries modest leverage, 0.31 turns, and pays the 1% dividend. The pair is a two-metal referendum: the market pays roughly double the enterprise value per unit of current everything for the metal whose story is longer, and collects its cash meanwhile from the one whose story is now.
Comparison updated 2026-07-10.
| Metric | AU | FCX |
|---|---|---|
| Price | $81.56 | $62.31 |
| Market cap | $41.5B | $90.0B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +23.0% |
| P/E | 15.7 | — |
| P/B | 4.18 | 2.86 |
| P/S | 4.19 | 3.40 |
| EV/EBITDA | — | 12.2 |
| Revenue growth | +27.7% | +6.2% |
| Gross margin | 49.2% | — |
| Operating margin | — | 34.2% |
| Net margin | 32.1% | 17.9% |
| Return on equity | 32.0% | 15.1% |
| Return on assets | 21.1% | 8.1% |
| Return on invested capital | — | 14.0% |
| FCF yield | 11.5% | 1.9% |
| Dividend yield | — | 1.0% |
| Debt / equity | 0.00 | 0.31 |
| Current ratio | 2.87 | 2.39 |
| Altman Z (solvency) | 5.72 | 2.76 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.