NewmontWBO:NEWM -3.51%85 Beneish M-Score is -2.12 as of Jun. 25, 2026. GuruFocus rates WBO:NEWM with a GF Score™ of 85/100 and a GF Value™ of €64.01 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 685 Metals & Mining companies, Newmont ranks worse than 57.66% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Newmont's Beneish M-Score or its related term are showing as below:
WBO:NEWM'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.69 Max: 4.18
Current: -2.12
During the past 13 years, the highest Beneish M-Score of Newmont was 4.18. The lowest was -3.52. And the median was -2.69.
Newmont Beneish M-Score Related Terms
Newmont Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Newmont's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
WBO:NEWM vs AU, CDE, RGLD: Beneish M-Score Comparison
For the Gold subindustry, Newmont's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Newmont Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Newmont's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Newmont's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Newmont for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.5035
+
0.528 * 0.7186
+
0.404 * 0.9305
+
0.892 * 1.1745
+
0.115 * 0.9861
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.6134
+
4.679 * -0.060746
-
0.327 * 0.7922
=
-2.19
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(2334.309 / (2334.309 + 31050.4))
/
(2199.966 / (2199.966 + 28824.395))
=
0.069922
/
0.070911
=
0.9861
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(7280.435 - -80.459
-
10391.183)
/
49884.55
=
-0.060746
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Newmont has a M-score of -2.19 suggests that the company is unlikely to be a manipulator.
Newmont (WBO:NEWM) has a Beneish M-Score of -2.12 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Newmont and its competitors. According to the industry distribution chart, Newmont ranks #395 out of 685 companies in the Metals & Mining industry, placing it in the top 57.7%.
Is Newmont's Beneish M-Score too high?
Newmont's current Beneish M-Score is -2.12. Based on the distribution chart, Newmont ranks #395 out of 685 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Newmont has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Newmont's Beneish M-Score compare to AU and CDE?
According to the Metals & Mining industry distribution chart, Newmont ranks #395 out of 685 companies for Beneish M-Score. This places Newmont in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Newmont and its competitors. Newmont's current Beneish M-Score is -2.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Newmont stock overvalued right now?
Based on GuruFocus' analysis, Newmont (WBO:NEWM) is currently considered Modestly Overvalued. The stock's GF Value™ is €64.01, compared to a current price of €82.96 — trading 29.6% above its estimated fair value. The current Beneish M-Score is -2.12. Newmont's overall GF Score™ is 85/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Newmont (WBO:NEWM), the current Beneish M-Score is -2.12 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Newmont (WBO:NEWM) Overvalued in 2026?
Based on GuruFocus' analysis, Newmont stock appears to be overvalued.
The current stock price of €82.96 is trading 29.6% above its estimated GF Value™ of €64.01.
GuruFocus considers Newmont to be Modestly Overvalued.
Key valuation signals for WBO:NEWM:
Beneish M-Score: -2.12
GF Value™: €64.01 vs. price of €82.96 (29.6% above fair value)
No single metric tells the full story. See the WBO:NEWM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 11 mines and interests in two joint ventures in the Americas, Africa, Australia, and Papua New Guinea. The company is expected to sell roughly 5.3 million ounces of gold in 2026 from its continuing mines after selling six higher-cost, smaller mines following the Newcrest acquisition. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves, along with significant byproduct reserves at the end of December 2025.
85GF Score
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