NEWMONT CORPORATION vs WHEATON PRECIOUS METALS CORP., two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
12.46 against 34.99: Newmont's multiple next to Wheaton's, nearly three times the price per dollar for the streamer's version of the same gold exposure. Wheaton's 63.6% net margin is the model's arithmetic; Newmont's 30.1% is a mine's, and the operating company converts more of its price to cash, 8.8% against 3.7%, while out-returning the streamer on equity, 21.4% against 16.9%. Both are clean-sheet. The premium on Wheaton prices cost-inflation insurance during a cycle when the insured event is not occurring. Owning the reference miner at a third the earnings price of its own abstraction: the pair reads like an arbitrage and prices like a philosophy.
Comparison updated 2026-07-10.
| Metric | NEM | WPM |
|---|---|---|
| Price | $96.09 | $113.45 |
| Market cap | $104.4B | $51.5B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| P/E | 12.5 | 35.0 |
| P/B | 2.98 | 5.93 |
| P/S | 4.18 | 22.25 |
| EV/EBITDA | 39.4 | 31.8 |
| Revenue growth | +26.8% | +22.7% |
| Gross margin | — | 72.2% |
| Operating margin | — | 68.3% |
| Net margin | 30.1% | 63.6% |
| Return on equity | 21.4% | 16.9% |
| Return on assets | 13.0% | 16.1% |
| Return on invested capital | — | 15.8% |
| FCF yield | 8.8% | 3.7% |
| Dividend yield | 1.0% | — |
| Debt / equity | 0.14 | 0.00 |
| Current ratio | 2.44 | 7.78 |
| Altman Z (solvency) | 3.50 | 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.