BVN vs NEM: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BVN and NEM share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BVN and NEM exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Compania de Minas Buenaventura S.A.A. is Peru's largest publicly traded precious-metals mining company, founded in 1953 and listed on the NYSE since 1996 as an American Depositary Share (ADR). The company explores for, mines, processes, and sells gold, silver, and base metals such as copper, zinc, and lead from a portfolio of wholly and partly owned mines in Peru, including Orcopampa, Tambomayo, Julcani, El Brocal, Uchucchacua, and its newest flagship, the San Gabriel gold mine. Beyond its own operations, Buenaventura holds a roughly 19.58% stake in Sociedad Minera Cerro Verde, a large Peruvian copper mine operated by Freeport-McMoRan, and that stake delivers meaningful dividend income when copper prices are high.

Full BVN guide

Newmont (NEM) is the world's largest gold producer and a leading name in precious-metals mining. It explores for, mines, and sells gold, with meaningful byproduct production of copper, silver, zinc, and lead from a global portfolio of tier-one operations across North America, South America, Australia, Africa, and Papua New Guinea. Gold is the company's core driver, and its revenue and profits move closely with the gold price, which it does not control and which tends to rise with inflation fears, falling real interest rates, and market or geopolitical stress. Newmont expanded its scale and reserves through the 2023 acquisition of Newcrest Mining and has since worked to streamline the combined portfolio around its highest-quality, longest-life assets while returning cash through dividends and buybacks. As a commodity producer, Newmont's earnings swing with gold and byproduct prices as well as mining costs. Headquartered in Denver, Colorado, it is widely viewed as a large-cap, liquid way to gain equity exposure to gold, often held as a diversifier or an inflation and safe-haven hedge rather than as a steady compounder.

Full NEM guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• BVN drivers: Precious-metals price leverage; San Gabriel ramp-up.
• NEM drivers: Leveraged exposure to gold; Scale, tier-one assets, and reserves.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: As a miner, Buenaventura's results rise and fall with gold, silver, and copper prices, which are cyclical and outside its control, so a sustained pullback in precious metals would compress revenue and margins quickly. For NEM, newmont is a commodity producer, so its revenue and profits swing with the gold price and byproduct metal prices it does not control, and those prices can fall sharply.

Pick BVN if you believe its drivers more; NEM if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BVN and NEM guides.

BVN. Buenaventura's 2025 and early-2026 results were unusually strong because of high precious-metals prices, the San Gabriel gold ramp-up, and large copper dividends from Cerro Verde, which together roughly doubled profits. At a price-to-earnings ratio near 8x the ADR trades below its own historical average, but that discount reflects the cyclical, price-dependent nature of mining earnings and Peruvian country risk rather than a mispricing on its own. Figures are approximate and drawn from company releases and market data.

NEM. Newmont's valuation is inherently cyclical because earnings move with the gold price and mining costs the company does not fully control. A normal P/E can look low near the top of the gold cycle and high or not meaningful at the bottom, so the stock often trades on the gold-price outlook, real interest rates, and cost trends rather than trailing earnings. Rising all-in sustaining costs can compress margins even when gold is firm. Figures are approximate and move with commodity prices; verify current numbers before relying on them.

Headline figures (approximate, July 2026): BVN shows revenue (fy2025) ~$1.73 billion, net income (fy2025) ~$782 million, revenue (q1 2026) ~$625 million, net income (q1 2026) ~$335 million (EPS ~$1.32); NEM shows revenue (ttm) ~$20 billion (varies with gold prices), primary product gold, with byproduct copper, silver, zinc, and lead, gold production (2025) ~5.9 million attributable ounces, gold aisc (2025) ~$1,358 per ounce by-product basis; guided higher for 2026.

BVN and NEM are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BVN and NEM exposure against your real portfolio. It is not an investment adviser.