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What’s Newmont Mining Stock’s Valuation Upside?

Annie Gilroy
What’s Newmont Mining Stock’s Valuation Upside?

Newmont Mining (NEM) has a forward enterprise value-to-EBITDA multiple of 7.9x, the highest among senior gold miners. Senior miners Kinross Gold (KGC), Barrick Gold (ABX), and Goldcorp (GG) are trading at forward multiples of 4.1x, 6.5x, and 6.2x, respectively. The fall in precious metals prices since the start of the year has depressed the multiples of most gold miners.