AngloGold Ashanti plc vs WHEATON PRECIOUS METALS CORP., two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
AngloGold Ashanti mines gold; Wheaton Precious Metals finances other people's mines and collects streams, and the models produce opposite masterpieces: the operator's 32% return on equity against the streamer's 63.6% net margin. Each is the best version of its species this cycle. The market prices insulation over operation, 35 times earnings against 15.7, more than double for the model that never meets a cost overrun. Free cash favors the miner, 11.5% against 3.7%. Both are debt-free. The premium on streaming is rational in bad cycles and expensive in good ones; this is a good one, and the operator's page is where the cycle's cash actually lands.
Comparison updated 2026-07-10.
| Metric | AU | WPM |
|---|---|---|
| Price | $81.56 | $113.45 |
| Market cap | $41.5B | $51.5B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| P/E | 15.7 | 35.0 |
| P/B | 4.18 | 5.93 |
| P/S | 4.19 | 22.25 |
| EV/EBITDA | — | 31.8 |
| Revenue growth | +27.7% | +22.7% |
| Gross margin | 49.2% | 72.2% |
| Operating margin | — | 68.3% |
| Net margin | 32.1% | 63.6% |
| Return on equity | 32.0% | 16.9% |
| Return on assets | 21.1% | 16.1% |
| Return on invested capital | — | 15.8% |
| FCF yield | 11.5% | 3.7% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.87 | 7.78 |
| Altman Z (solvency) | 5.72 | 7.68 |
| 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.