AngloGold Ashanti vs Newmont: Fair Value & Quality
Both stocks run through our valuation models. Here is how AngloGold Ashanti (ANG) and Newmont (NEM) compare, as of Aug 21, 2026.
As of Aug 21, 2026, Fair Value Calculator sees AngloGold Ashanti as the less overvalued of the two: AngloGold Ashanti trades at ZAR 1,803 versus a fair value of ZAR 1,210 (-33%), while Newmont trades at A$180 versus A$117 (-35%).
AngloGold Ashanti
ANG.JSE · ZAC · Materials
-33%
upside to fair value
overvalued
PriceZAR 1,803
Fair ValueZAR 1,210
Quality64/100
Newmont
NEM.AU · AUD · Materials
-35%
upside to fair value
overvalued
PriceA$180
Fair ValueA$117
Quality71/100
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Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
AngloGold AshantiNewmont
Valuation
11.2×P/E (TTM)11.6×
3.53×P/S (TTM)3.95×
4.87×P/B2.91×
5.9×EV/EBITDA5.9×
0.84×PEG2.63×
0.3%Dividend yield0.6%
ZAR 4.60Dividend per shareA$1.02
Profitability
31%Net margin34%
56%Operating margin61%
43%Return on equity26%
23%Return on assets15%
Growth
65%Revenue growth (YoY)46%
30.0%Avg. growth/yr (3Y)25.3%
16.6%Avg. growth/yr (5Y)15.3%
Balance & size
0.25×Debt / equity0.15×
$39BMarket cap$99B
healthyGrowth qualityhealthy
AngloGold Ashanti leads: 9 to 5 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
AngloGold Ashantiof which business quality 67 · market factors 71Newmontof which business quality 70 · market factors 70
ProfitabilityMargins and returns on capital today
79
63
Quality GrowthAre margins and returns improving?
100
98
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
7
22
Low VolatilityCalm price path (market factor)
47
63
MomentumPrice trend over the last 3–12 months (market factor)
76
60
52W MomentumDistance to the 52-week high (market factor)
89
95
Net IssuanceBuybacks instead of dilution
7
50
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
AngloGold Ashanti
DCF ModelsZAR 107
Earnings-BasedZAR 60.47
Dividend DiscountZAR 70.48
MultiplesZAR 68.32
Asset-BasedZAR 10.72
Growth DCFZAR 89.26
Economic ProfitZAR 64.61
Growth EarningsZAR 84.03
26 of 26 models see the stock below the current price.
Newmont
DCF ModelsA$197
Earnings-BasedA$155
MultiplesA$106
Asset-BasedA$21.27
Growth DCFA$150
Economic ProfitA$86.58
Growth EarningsA$189
15 of 24 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
AngloGold Ashanti
Bear ZAR 817Fair Value ZAR 1,210Bull ZAR 1,529
ZAR 1,803 = current price (white tick)
Newmont
Bear A$87.57Fair Value A$117Bull A$245
A$180 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
AngloGold Ashanti · Materials
Quality score64 · Top 25%
Fair value upside-33% · below median
Newmont · Materials
Quality score71 · Top 25%
Fair value upside-35% · below median
Bottom line
As of Aug 21, 2026, Fair Value Calculator sees AngloGold Ashanti as the less overvalued of the two: AngloGold Ashanti trades at ZAR 1,803 versus a fair value of ZAR 1,210 (-33%), while Newmont trades at A$180 versus A$117 (-35%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
