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STOCK COMPARISON

Newmont vs West African Resources: Fair Value & Quality

Both stocks run through our valuation models. Here is how Newmont (NEM) and West African Resources (WAF) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Newmont as the less overvalued of the two: Newmont trades at A$178 versus a fair value of A$162 (-9%), while West African Resources trades at A$3.85 versus A$3.33 (-14%).
Newmont
NEM.AU · AUD · Materials
-9%
upside to fair value
fairly valued
PriceA$178
Fair ValueA$162
Quality71/100
West African Resources
WAF.AU · AUD · Materials
-14%
upside to fair value
overvalued
PriceA$3.85
Fair ValueA$3.33
Quality47/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

NewmontWest African Resources
Valuation
11.6×P/E (TTM)9.5×
4.01×P/S (TTM)2.09×
2.95×P/B2.58×
6.0×EV/EBITDA3.5×
2.63×PEG
−9.1%Fair value upside−13.5%
0.6%Dividend yield0.2%
A$1.02Dividend per share
Profitability
61%Operating margin54%
1.76×EBIT margin trend (5Y)
26%Return on equity37%
15%Return on assets22%
Growth
46%Revenue growth (YoY)176%
25.3%Avg. growth/yr (3Y)0.6%
15.3%Avg. growth/yr (5Y)257.6%
+14.3%Value creation/yr+15.4%
Balance & size
46.9×Interest coverage (EBIT/interest)117.0×
0.15×Debt / equity0.31×
$100BMarket cap$3B
healthyGrowth qualitymixed

West African Resources leads: 6 to 8 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.

Newmontof which business quality 70 · market factors 73 West African Resourcesof which business quality 48 · market factors 63
ProfitabilityMargins and returns on capital today
63
59
Quality GrowthAre margins and returns improving?
98
57
CashflowEarnings quality: real cash, not paper profit
81
31
Fin. StrengthBalance sheet, leverage, solvency risk
85
89
InvestmentDisciplined investing over empire-building
22
0
Low VolatilityCalm price path (market factor)
63
41
MomentumPrice trend over the last 3–12 months (market factor)
69
69
52W MomentumDistance to the 52-week high (market factor)
92
77
Net IssuanceBuybacks instead of dilution
50
23

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyNewmontPrice A$178West African ResourcesPrice A$3.85
DCF Models+10%close to the priceA$197n/a
Earnings-Based-13%close to the priceA$155+78%above the priceA$6.85
Dividend Discountn/a-97%below the priceA$0.11
Multiples-41%below the priceA$106-14%close to the priceA$3.30
Asset-Based-88%below the priceA$21.27-81%below the priceA$0.73
Growth DCF-16%below the priceA$150n/a
Economic Profit-51%below the priceA$86.58-29%below the priceA$2.74
Growth Earnings+6%close to the priceA$189+119%above the priceA$8.43
Minimum-88%below the priceA$21.27-97%below the priceA$0.11
Maximum+10%close to the priceA$197+119%above the priceA$8.43
Median-16%below the priceA$150-22%below the priceA$3.02
Geometric mean-40%below the priceA$108-52%below the priceA$1.86

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Newmont: 15 of 24 models see the stock below the current price.

West African Resources: 11 of 16 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.

Newmont
Bear A$122Fair Value A$162Bull A$340
A$178 = current price (white tick)
West African Resources
Bear A$2.50Fair Value A$3.33Bull A$7.79
A$3.85 = 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.

Newmont · Materials

Quality score71 · Top 25%
Fair value upside-9% · above median

West African Resources · Materials

Quality score47 · below median
Fair value upside-14% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Newmont as the less overvalued of the two: Newmont trades at A$178 versus a fair value of A$162 (-9%), while West African Resources trades at A$3.85 versus A$3.33 (-14%).

Newmont has the higher quality score (71/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.