Intrinsic value of Newmont Mining - NEM

Previous Close

$36.13

  Intrinsic Value

$12.86

stock screener

  Rating & Target

str. sell

-64%

  Value-price divergence*

+182%

Previous close

$36.13

 
Intrinsic value

$12.86

 
Up/down potential

-64%

 
Rating

str. sell

 
Value-price divergence*

+182%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of NEM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 19.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.29
  13.50
  12.65
  11.89
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.29
  7.96
  7.67
  7.40
  7.16
  6.94
  6.75
  6.58
  6.42
  6.28
  6.15
  6.03
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.49
  5.44
  5.40
Revenue, $m
  6,711
  7,617
  8,581
  9,600
  10,675
  11,804
  12,987
  14,223
  15,512
  16,856
  18,253
  19,707
  21,218
  22,788
  24,420
  26,116
  27,879
  29,712
  31,619
  33,603
  35,669
  37,821
  40,064
  42,403
  44,842
  47,388
  50,047
  52,824
  55,726
  58,761
  61,934
Variable operating expenses, $m
 
  7,190
  8,100
  9,063
  10,077
  11,143
  12,260
  13,427
  14,644
  15,912
  17,231
  18,604
  20,030
  21,512
  23,053
  24,654
  26,318
  28,048
  29,848
  31,721
  33,672
  35,703
  37,820
  40,028
  42,331
  44,735
  47,244
  49,866
  52,606
  55,470
  58,466
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  6,776
  7,190
  8,100
  9,063
  10,077
  11,143
  12,260
  13,427
  14,644
  15,912
  17,231
  18,604
  20,030
  21,512
  23,053
  24,654
  26,318
  28,048
  29,848
  31,721
  33,672
  35,703
  37,820
  40,028
  42,331
  44,735
  47,244
  49,866
  52,606
  55,470
  58,466
Operating income, $m
  -65
  427
  481
  538
  598
  661
  727
  796
  869
  944
  1,022
  1,104
  1,188
  1,276
  1,368
  1,463
  1,561
  1,664
  1,771
  1,882
  1,997
  2,118
  2,244
  2,375
  2,511
  2,654
  2,803
  2,958
  3,121
  3,291
  3,468
EBITDA, $m
  1,155
  1,135
  1,278
  1,430
  1,591
  1,759
  1,935
  2,119
  2,311
  2,511
  2,720
  2,936
  3,162
  3,395
  3,639
  3,891
  4,154
  4,427
  4,711
  5,007
  5,315
  5,635
  5,970
  6,318
  6,681
  7,061
  7,457
  7,871
  8,303
  8,755
  9,228
Interest expense (income), $m
  0
  142
  188
  237
  289
  344
  401
  461
  524
  590
  658
  729
  803
  880
  960
  1,043
  1,130
  1,219
  1,313
  1,410
  1,511
  1,616
  1,725
  1,839
  1,958
  2,082
  2,212
  2,347
  2,489
  2,636
  2,791
Earnings before tax, $m
  -214
  285
  292
  300
  309
  317
  326
  335
  344
  354
  364
  374
  385
  396
  407
  419
  432
  445
  458
  472
  487
  502
  518
  535
  553
  571
  591
  611
  632
  654
  678
Tax expense, $m
  563
  77
  79
  81
  83
  86
  88
  90
  93
  96
  98
  101
  104
  107
  110
  113
  117
  120
  124
  128
  131
  136
  140
  145
  149
  154
  159
  165
  171
  177
  183
Net income, $m
  -627
  208
  213
  219
  225
  232
  238
  245
  251
  258
  266
  273
  281
  289
  297
  306
  315
  325
  334
  345
  355
  367
  378
  391
  404
  417
  431
  446
  461
  478
  495

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,812
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  21,031
  20,698
  23,317
  26,088
  29,009
  32,077
  35,291
  38,650
  42,153
  45,803
  49,602
  53,552
  57,658
  61,925
  66,359
  70,968
  75,758
  80,739
  85,921
  91,313
  96,927
  102,775
  108,870
  115,225
  121,854
  128,773
  135,997
  143,544
  151,431
  159,676
  168,299
Adjusted assets (=assets-cash), $m
  18,219
  20,698
  23,317
  26,088
  29,009
  32,077
  35,291
  38,650
  42,153
  45,803
  49,602
  53,552
  57,658
  61,925
  66,359
  70,968
  75,758
  80,739
  85,921
  91,313
  96,927
  102,775
  108,870
  115,225
  121,854
  128,773
  135,997
  143,544
  151,431
  159,676
  168,299
Revenue / Adjusted assets
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
Average production assets, $m
  6,243
  7,084
  7,980
  8,928
  9,928
  10,978
  12,078
  13,227
  14,427
  15,676
  16,976
  18,328
  19,733
  21,193
  22,711
  24,288
  25,927
  27,632
  29,406
  31,251
  33,172
  35,174
  37,260
  39,434
  41,703
  44,071
  46,544
  49,126
  51,826
  54,647
  57,599
Working capital, $m
  2,927
  769
  867
  970
  1,078
  1,192
  1,312
  1,437
  1,567
  1,702
  1,844
  1,990
  2,143
  2,302
  2,466
  2,638
  2,816
  3,001
  3,194
  3,394
  3,603
  3,820
  4,046
  4,283
  4,529
  4,786
  5,055
  5,335
  5,628
  5,935
  6,255
Total debt, $m
  4,615
  5,379
  6,779
  8,262
  9,825
  11,466
  13,186
  14,983
  16,857
  18,810
  20,842
  22,955
  25,152
  27,435
  29,807
  32,273
  34,836
  37,501
  40,273
  43,157
  46,161
  49,290
  52,550
  55,950
  59,497
  63,198
  67,063
  71,101
  75,320
  79,731
  84,345
Total liabilities, $m
  10,310
  11,074
  12,474
  13,957
  15,520
  17,161
  18,881
  20,678
  22,552
  24,505
  26,537
  28,650
  30,847
  33,130
  35,502
  37,968
  40,531
  43,196
  45,968
  48,852
  51,856
  54,985
  58,245
  61,645
  65,192
  68,893
  72,758
  76,796
  81,015
  85,426
  90,040
Total equity, $m
  10,721
  9,625
  10,842
  12,131
  13,489
  14,916
  16,410
  17,972
  19,601
  21,299
  23,065
  24,902
  26,811
  28,795
  30,857
  33,000
  35,228
  37,544
  39,953
  42,461
  45,071
  47,790
  50,624
  53,579
  56,662
  59,879
  63,239
  66,748
  70,415
  74,249
  78,259
Total liabilities and equity, $m
  21,031
  20,699
  23,316
  26,088
  29,009
  32,077
  35,291
  38,650
  42,153
  45,804
  49,602
  53,552
  57,658
  61,925
  66,359
  70,968
  75,759
  80,740
  85,921
  91,313
  96,927
  102,775
  108,869
  115,224
  121,854
  128,772
  135,997
  143,544
  151,430
  159,675
  168,299
Debt-to-equity ratio
  0.430
  0.560
  0.630
  0.680
  0.730
  0.770
  0.800
  0.830
  0.860
  0.880
  0.900
  0.920
  0.940
  0.950
  0.970
  0.980
  0.990
  1.000
  1.010
  1.020
  1.020
  1.030
  1.040
  1.040
  1.050
  1.060
  1.060
  1.070
  1.070
  1.070
  1.080
Adjusted equity ratio
  0.434
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465
  0.465

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -627
  208
  213
  219
  225
  232
  238
  245
  251
  258
  266
  273
  281
  289
  297
  306
  315
  325
  334
  345
  355
  367
  378
  391
  404
  417
  431
  446
  461
  478
  495
Depreciation, amort., depletion, $m
  1,220
  708
  798
  893
  993
  1,098
  1,208
  1,323
  1,443
  1,568
  1,698
  1,833
  1,973
  2,119
  2,271
  2,429
  2,593
  2,763
  2,941
  3,125
  3,317
  3,517
  3,726
  3,943
  4,170
  4,407
  4,654
  4,913
  5,183
  5,465
  5,760
Funds from operations, $m
  1,783
  916
  1,011
  1,112
  1,218
  1,329
  1,446
  1,567
  1,694
  1,826
  1,963
  2,106
  2,254
  2,408
  2,568
  2,735
  2,908
  3,088
  3,275
  3,470
  3,673
  3,884
  4,104
  4,334
  4,574
  4,824
  5,086
  5,359
  5,644
  5,942
  6,255
Change in working capital, $m
  -490
  92
  97
  103
  109
  114
  119
  125
  130
  136
  141
  147
  153
  159
  165
  171
  178
  185
  193
  200
  209
  217
  227
  236
  246
  257
  269
  280
  293
  306
  321
Cash from operations, $m
  2,273
  825
  914
  1,009
  1,110
  1,215
  1,326
  1,442
  1,564
  1,690
  1,822
  1,959
  2,102
  2,250
  2,404
  2,564
  2,730
  2,903
  3,082
  3,269
  3,464
  3,667
  3,878
  4,098
  4,328
  4,567
  4,817
  5,078
  5,351
  5,636
  5,934
Maintenance CAPEX, $m
  0
  -624
  -708
  -798
  -893
  -993
  -1,098
  -1,208
  -1,323
  -1,443
  -1,568
  -1,698
  -1,833
  -1,973
  -2,119
  -2,271
  -2,429
  -2,593
  -2,763
  -2,941
  -3,125
  -3,317
  -3,517
  -3,726
  -3,943
  -4,170
  -4,407
  -4,654
  -4,913
  -5,183
  -5,465
New CAPEX, $m
  -1,133
  -841
  -896
  -948
  -1,000
  -1,050
  -1,100
  -1,149
  -1,199
  -1,249
  -1,300
  -1,352
  -1,405
  -1,460
  -1,518
  -1,577
  -1,639
  -1,705
  -1,773
  -1,845
  -1,921
  -2,001
  -2,086
  -2,175
  -2,269
  -2,368
  -2,472
  -2,583
  -2,699
  -2,822
  -2,951
Cash from investing activities, $m
  -80
  -1,465
  -1,604
  -1,746
  -1,893
  -2,043
  -2,198
  -2,357
  -2,522
  -2,692
  -2,868
  -3,050
  -3,238
  -3,433
  -3,637
  -3,848
  -4,068
  -4,298
  -4,536
  -4,786
  -5,046
  -5,318
  -5,603
  -5,901
  -6,212
  -6,538
  -6,879
  -7,237
  -7,612
  -8,005
  -8,416
Free cash flow, $m
  2,193
  -641
  -690
  -737
  -783
  -828
  -871
  -915
  -958
  -1,002
  -1,046
  -1,090
  -1,136
  -1,184
  -1,233
  -1,285
  -1,338
  -1,395
  -1,454
  -1,517
  -1,582
  -1,652
  -1,725
  -1,803
  -1,885
  -1,971
  -2,063
  -2,159
  -2,261
  -2,368
  -2,482
Issuance/(repayment) of debt, $m
  -1,312
  1,330
  1,401
  1,483
  1,563
  1,641
  1,719
  1,797
  1,875
  1,953
  2,032
  2,113
  2,197
  2,283
  2,372
  2,465
  2,563
  2,665
  2,772
  2,885
  3,004
  3,129
  3,261
  3,400
  3,547
  3,702
  3,865
  4,038
  4,219
  4,411
  4,613
Issuance/(repurchase) of shares, $m
  0
  942
  1,004
  1,069
  1,133
  1,195
  1,256
  1,317
  1,378
  1,439
  1,501
  1,564
  1,628
  1,695
  1,765
  1,837
  1,912
  1,992
  2,075
  2,163
  2,255
  2,353
  2,456
  2,564
  2,679
  2,800
  2,928
  3,063
  3,206
  3,356
  3,515
Cash from financing (excl. dividends), $m  
  -1,734
  2,272
  2,405
  2,552
  2,696
  2,836
  2,975
  3,114
  3,253
  3,392
  3,533
  3,677
  3,825
  3,978
  4,137
  4,302
  4,475
  4,657
  4,847
  5,048
  5,259
  5,482
  5,717
  5,964
  6,226
  6,502
  6,793
  7,101
  7,425
  7,767
  8,128
Total cash flow (excl. dividends), $m
  460
  1,631
  1,715
  1,815
  1,913
  2,009
  2,104
  2,199
  2,294
  2,390
  2,487
  2,587
  2,689
  2,794
  2,904
  3,018
  3,137
  3,262
  3,393
  3,531
  3,676
  3,829
  3,991
  4,161
  4,341
  4,531
  4,731
  4,942
  5,164
  5,399
  5,647
Retained Cash Flow (-), $m
  629
  -1,150
  -1,218
  -1,289
  -1,358
  -1,427
  -1,494
  -1,562
  -1,629
  -1,697
  -1,766
  -1,837
  -1,909
  -1,984
  -2,062
  -2,143
  -2,228
  -2,316
  -2,409
  -2,507
  -2,611
  -2,719
  -2,834
  -2,955
  -3,083
  -3,217
  -3,359
  -3,509
  -3,667
  -3,834
  -4,010
Prev. year cash balance distribution, $m
 
  2,246
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  2,727
  497
  526
  554
  582
  610
  638
  665
  693
  721
  750
  779
  810
  842
  875
  909
  946
  984
  1,024
  1,066
  1,110
  1,157
  1,206
  1,258
  1,313
  1,371
  1,432
  1,497
  1,565
  1,637
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  2,615
  455
  458
  457
  451
  443
  431
  416
  398
  378
  356
  333
  308
  283
  257
  231
  206
  181
  158
  135
  115
  96
  79
  64
  51
  40
  31
  23
  17
  12
Current shareholders' claim on cash, %
  100
  94.2
  89.1
  84.4
  80.3
  76.5
  73.1
  70.0
  67.1
  64.5
  62.1
  59.8
  57.8
  55.8
  54.0
  52.2
  50.6
  49.1
  47.6
  46.2
  44.9
  43.6
  42.4
  41.3
  40.2
  39.1
  38.1
  37.1
  36.1
  35.2
  34.3

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold. It also explores for silver and copper properties. The company’s operations and/or assets are located in the United States, Australia, Peru, Indonesia, Ghana, and Suriname. As of December 31, 2016, it had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles. The company was founded in 1916 and is headquartered in Greenwood Village, Colorado.

FINANCIAL RATIOS  of  Newmont Mining (NEM)

Valuation Ratios
P/E Ratio -30.6
Price to Sales 2.9
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 8.4
Price to Free Cash Flow 16.8
Growth Rates
Sales Growth Rate 10.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -13.6%
Cap. Spend. - 3 Yr. Gr. Rate -9.8%
Financial Strength
Quick Ratio 5
Current Ratio 0.5
LT Debt to Equity 37.8%
Total Debt to Equity 43%
Interest Coverage 0
Management Effectiveness
Return On Assets -2.7%
Ret/ On Assets - 3 Yr. Avg. 0.1%
Return On Total Capital -3.9%
Ret/ On T. Cap. - 3 Yr. Avg. 0.2%
Return On Equity -5.7%
Return On Equity - 3 Yr. Avg. 0.5%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 43.8%
Gross Margin - 3 Yr. Avg. 42.5%
EBITDA Margin 15%
EBITDA Margin - 3 Yr. Avg. 22%
Operating Margin -1%
Oper. Margin - 3 Yr. Avg. 6.3%
Pre-Tax Margin -3.2%
Pre-Tax Margin - 3 Yr. Avg. 4.6%
Net Profit Margin -9.3%
Net Profit Margin - 3 Yr. Avg. 0.6%
Effective Tax Rate -263.1%
Eff/ Tax Rate - 3 Yr. Avg. -35.2%
Payout Ratio -10.7%

NEM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NEM stock intrinsic value calculation we used $6711 million for the last fiscal year's total revenue generated by Newmont Mining. The default revenue input number comes from 2016 income statement of Newmont Mining. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NEM stock valuation model: a) initial revenue growth rate of 13.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NEM is calculated based on our internal credit rating of Newmont Mining, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Newmont Mining.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NEM stock the variable cost ratio is equal to 94.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NEM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Newmont Mining.

Corporate tax rate of 27% is the nominal tax rate for Newmont Mining. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NEM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NEM are equal to 93%.

Life of production assets of 10 years is the average useful life of capital assets used in Newmont Mining operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NEM is equal to 10.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $10721 million for Newmont Mining - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 535.445 million for Newmont Mining is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Newmont Mining at the current share price and the inputted number of shares is $19.3 billion.

RELATED COMPANIES Price Int.Val. Rating
ABX Barrick Gold 16.91 1.45  str.sell
BVN Compania de Mi 12.33 2.53  str.sell
GFI Gold Fields AD 4.00 0.80  str.sell
KGC Kinross Gold 4.38 0.82  str.sell
GG Goldcorp 13.03 3.97  str.sell
AEM Agnico-Eagle M 46.70 4.26  str.sell
EGO Eldorado Gold 1.89 1.26  sell

COMPANY NEWS

▶ How Gold Miners Ranked on Unit Costs in 2Q17   [Aug-17-17 10:37AM  Market Realist]
▶ Who Is Leading The Gold Rush?   [Aug-16-17 09:30PM  Oilprice.com]
▶ Kirkland Lake Gold Will Continue to Rally   [Aug-15-17 04:17PM  GuruFocus.com]
▶ Neff, Target surge, while Newmont Mining dips   [Aug-14-17 05:21PM  Associated Press]
▶ Investing in the Gold Stock Industry   [01:26PM  GuruFocus.com]
▶ "Fast Money" final trades: SNAP, GDX and more   [Aug-10-17 05:59PM  CNBC Videos]
▶ Gold Climbs As North Korea Concerns Increase   [Aug-09-17 05:11PM  Zacks]
▶ How US Employment Numbers Played Precious Metals This Week   [Aug-07-17 03:22PM  Market Realist]
▶ A Decision on These Projects Could Be Key to Kinrosss Future   [Aug-04-17 04:35PM  Market Realist]
▶ What Mining Stocks Technical Indicators Suggest   [Aug-02-17 01:05PM  Market Realist]
▶ How Unrest in Korea Affected Gold   [11:33AM  Market Realist]
▶ These Stocks Are Ready to Reverse Course   [Jul-31-17 02:30PM  TheStreet.com]
▶ How Risky Is Royal Gold, Inc.?   [11:31AM  Motley Fool]
▶ The 1 Reason You Should Consider Gold Stocks Today   [Jul-30-17 12:35PM  Motley Fool]
▶ 3 Top Gold Mining Stocks to Buy in 2017   [Jul-29-17 10:35AM  Motley Fool]
▶ Inside Barrick Golds 2Q17 Earnings Beat   [Jul-28-17 12:42PM  Market Realist]
▶ Traders Bet On Gold Miner Rally   [Jul-27-17 02:40PM  Benzinga]
▶ U.S. Drops Newmont Mining Bribery Probe   [01:11PM  The Wall Street Journal]
▶ What Newmonts Unit Costs Need Most   [10:38AM  Market Realist]
▶ How Major Miners Correlations with Gold Have Moved in July   [Jul-26-17 06:06PM  Market Realist]
▶ Analysts Are Optimistic about Coeur Mining   [07:45AM  Market Realist]
▶ Newmont beats Street 2Q forecasts   [Jul-25-17 09:57PM  Associated Press]
▶ The Mining Stocks with Positive Gold Correlation Trends   [Jul-24-17 04:42PM  Market Realist]
▶ Gold Stocks For a Falling Dollar   [11:32AM  Motley Fool]
▶ Newmont Mining Announces Quarterly Dividend   [Jul-20-17 01:04PM  GuruFocus.com]
▶ How Mining Stocks Performed on July 17   [09:37AM  Market Realist]
▶ How Are Gold and Silver Positions Trending?   [09:37AM  Market Realist]
▶ Keeping a Tab on Rating Changes in Senior Gold Mining   [Jul-19-17 05:35PM  Market Realist]
▶ Newmont Announces Two New Board Members   [04:01PM  Business Wire]
▶ Kinross Gold Is Attractive at Current Levels   [Jul-18-17 06:22PM  GuruFocus.com]
▶ Newmont Retires $575 Million of Convertible Senior Notes   [Jul-17-17 04:15PM  Business Wire]
▶ Gold Stocks for a Successful Trump Presidency   [Jul-15-17 08:16AM  Motley Fool]
▶ Chart in Focus: Newmont Minings Lower Margin Forecasts   [Jul-14-17 10:36AM  Market Realist]
▶ Can Gold Miners See an Upside on Revenues in 2Q17 Earnings?   [Jul-13-17 04:35PM  Market Realist]
▶ Newmont Mining Resilient Amid Challenges   [03:42PM  GuruFocus.com]
▶ Gold Stocks for a Rocky Trump Presidency   [Jul-11-17 01:33PM  Motley Fool]
Stock chart of NEM Financial statements of NEM
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.