AngloGold Ashanti plc vs NEWMONT CORPORATION, two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Gold-major balance sheets have all healed, AngloGold debt-free and Newmont at a token 0.14 turns, so the cycle's spoils go to operations: AngloGold earns 32% on equity against Newmont's 21.4%, and yields 11.5% in free cash against 8.8%, the smaller miner outrunning the industry's reference name on both. Net margins sit at 32.1% and 30.1%, near-twins. The market prices Newmont cheaper, 12.5 times against 15.7, scale and index membership earning it no premium this cycle. Newmont pays the visible 1% dividend. Two majors at single-digit-adjacent multiples on peak-cycle earnings: the sector's re-rating has lagged its own income statements, and these two pages are the evidence.
Comparison updated 2026-07-10.
| Metric | AU | NEM |
|---|---|---|
| Price | $81.56 | $96.09 |
| Market cap | $41.5B | $104.4B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| P/E | 15.7 | 12.5 |
| P/B | 4.18 | 2.98 |
| P/S | 4.19 | 4.18 |
| EV/EBITDA | — | 39.4 |
| Revenue growth | +27.7% | +26.8% |
| Gross margin | 49.2% | — |
| Net margin | 32.1% | 30.1% |
| Return on equity | 32.0% | 21.4% |
| Return on assets | 21.1% | 13.0% |
| FCF yield | 11.5% | 8.8% |
| Dividend yield | — | 1.0% |
| Debt / equity | 0.00 | 0.14 |
| Current ratio | 2.87 | 2.44 |
| Altman Z (solvency) | 5.72 | 3.50 |
| 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.