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Newmont Corp vs Northern Star Resources shares
Are you weighing up Newmont Corporation CDI (ASX: NEM) vs Northern Star Resources Ltd (ASX: NST) shares? Both are major names in gold, but they're quite different in scale, yield, valuation, and market performance. Let's break down the fundamentals and see which might shine brighter for investors, especially those looking for strong dividends and competitive P/E ratios.
The case for Newmont Corp
Newmont Corp is the largest gold miner in the world, operating across the Americas, Australia, Africa, and Papua New Guinea. After acquiring Australian miner Newcrest Mining in 2023, Newmont gained assets like Boddington, Cadia, Tanami, and Telfer, adding further depth to their mineral portfolio. Besides gold, Newmont also produces copper, silver, zinc, and lead.
A few things jump out about Newmont:
- It has a massive market cap of $179.37 billion, making it a goliath in the sector.
- Its P/E ratio is 15.88, lower than Northern Star's, so you're paying less per dollar of earnings.
- The dividend yield is 0.85%, which is relatively modest for a miner.
- Dividends are unfranked, so there's no extra tax benefit for Australian shareholders.
- Year to date, Newmont shares have returned a solid 17.64%.
The case for Northern Star Resources
Northern Star Resources is a leading Australian gold producer with a global reach. Its flagship operations are in Western Australia's Kalgoorlie and Yandal projects, as well as Alaska's Pogo goldfields. Northern Star is known for its strategic acquisitions and commitment to ongoing exploration.
Some key facts about Northern Star:
- Market cap sits at $31.40 billion—a sizeable company, but much smaller than Newmont.
- P/E ratio is 19.56, higher than Newmont, which could suggest a more fully valued share.
- Dividend yield stands at 2.43%, nearly three times higher than Newmont.
- Importantly, its most recent dividends have been 100% franked, offering a big plus for Aussie tax residents.
- However, year-to-date return is -13.28%, showing recent underperformance.
Valuation comparison
Here's how the numbers stack up between these two gold giants:
| Metric | Newmont Corp (NEM) | Northern Star (NST) |
|---|---|---|
| Market Cap | $179.37 billion | $31.40 billion |
| P/E Ratio | 15.88 | 19.56 |
| Dividend Yield | 0.85% (Unfranked) | 2.43% (100% Franked) |
| Year to Date Return | 17.64% | -13.28% |
| Earnings Per Share (EPS) | 7.930 | 1.157 |
Newmont boasts a lower P/E, higher earnings per share, and stronger recent performance, while Northern Star offers a higher, fully franked dividend yield. Newmont's size dwarfs Northern Star's.
Recent share price performance
Share price figures as of 15 September 2026 show Newmont closed at $170.69, dropping 2.8% that session but still up 17.64% YTD. Northern Star finished at $22.04, down 2.61% on the day and showing a negative year-to-date return of -13.28%. Looking through recent weeks, Newmont has shown more resilience, while Northern Star has faced consistent pressure.
Which is the better buy?
If I had to choose between Newmont and Northern Star today, I'd lean toward Newmont. Here's why: Newmont is trading at a lower P/E ratio—making it look better value—and it's delivered a strong positive return this year. While its dividend yield is lower and those dividends are unfranked, the company's massive scale, higher earnings per share, and positive momentum give me more confidence right now. Northern Star's higher, fully franked yield is tempting, especially for income-seeking Australians, but with its higher valuation and recent negative performance, I'm not convinced the risk is worth the reward at this stage.
