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NEM

9/9 Score

Newmont Corporation

Analysis Date: February 21, 2026

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers. The company was founded in 1916 and is headquartered in Denver, Colorado.

Buffettology Criteria

All 9 of 9 criteria passed

  • High ROE

    Return on Equity > 12%

    Value: 22.0%

  • High ROIC

    Return on Invested Capital > 9%

    Value: 21.5%

  • Cash Machine

    FCF / Assets > 5%

    Value: 18.1%

  • Fair Valuation

    Earnings Yield > 3.5%

    Value: 5.3%

  • Share Buybacks

    Share Count is Dropping

    Value: -3.5%

  • Defensible Moat

    Gross Profit Margin > 40%

    Value: 64.3%

  • Simple Business

    Not in a speculative sector (e.g., Biotech)

    Value: Basic Materials

  • Conservative Debt

    Debt to Equity < 1.5

    Value: 0.01x

  • Consistent Growth

    5-Year Growth is Positive

    Value: 84.2%

Analysis Summary

This is a rather compelling report on NEM. The business demonstrates a strong return on capital, a healthy competitive moat, and a remarkably low debt level, all pointing to a well-managed operation. While the valuation isn't screaming "bargain," the consistent growth and buybacks are certainly attractive features that warrant a closer look for the patient investor.

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