AEM vs AU vs BTG Stock Comparison

Agnico Eagle Mines, AngloGold Ashanti and B2Gold Prices as of Oct 26, 2026 Peers: Industry group
AEM Agnico Eagle Mines Ltd
$175.68 -9.6% 1M +7.5% 1Y
Market cap
$89.90B
P/E
15.3x
Revenue (TTM)
$14.53B
Div. yield
–
Gold Basic Materials
4 wins
AU AngloGold Ashanti PLC
$85.03 -14.1% 1M +24.0% 1Y
Market cap
$43.75B
P/E
11.5x
Revenue (TTM)
$11.83B
Div. yield
–
Gold Basic Materials
4 wins
BTG B2Gold Corp
$4.81 -12.1% 1M -7.7% 1Y
Market cap
$6.58B
P/E
8.0x
Revenue (TTM)
—
Div. yield
–
Gold Basic Materials
3 wins

Head to Head

11 decided of 12

Agnico Eagle Mines leads on 4 of the 12 questions below (Agnico Eagle Mines 4, AngloGold Ashanti 4, B2Gold 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAEMAUBTGLeader
Larger companyMarket capitalisation $89.90B $43.75B $6.58B AEM
Cheaper on earningsLower P/E, profitable companies only 15.3x 11.5x 8.0x BTG
Cheaper on forward earningsLower price / next fiscal year consensus EPS 16.1x 10.0x 8.3x BTG
Faster revenue growthRevenue growth, trailing twelve months +50.3% +54.6% — AU
More profitableNet margin, trailing twelve months 40.4% 32.2% — AEM
Better return on capitalReturn on invested capital 23.3% 40.5% 44.5% BTG
Less leveragedLower net debt / EBITDA -0.3x — 0.1x AEM
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +7.5% +24.0% -7.7% AU
Better 5-year returnAnnualised price return, 5 years +25.4%/yr +34.5%/yr +1.6%/yr AU
Less volatileAnnualised volatility, 1 year 48.1% 60.2% 60.4% AEM
Higher overall scoreMean of the five percentile scores vs peers 78/100 81/100 76/100 AU

Percentile Scorecard

AEMAUBTG

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAEMAUBTG
Valuation 65 #58 of 162 74 #43 of 162 94 #11 of 162
Growth 75 #38 of 147 88 #18 of 147 84 #24 of 147
Profitability 95 #7 of 122 97 #5 of 122 96 #6 of 122
Financial Health 76 #40 of 165 50 #83 of 165 65 #59 of 165
Shareholder Returns 79 #23 of 107 97 #4 of 107 42 #63 of 107
Overall 78 81 76
  • AEM ranked among 176 companies in Metals and Mining
  • AU ranked among 176 companies in Metals and Mining
  • BTG ranked among 176 companies in Metals and Mining

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAEMAUBTGSPY
1 month -9.6%-14.1%-12.1% -0.8%
3 months +20.4%+5.7%+24.3% +3.5%
6 months -11.3%-13.4%+5.9% +7.0%
Year to date +3.6%-0.3%+6.7% +12.2%
1 year +7.5%+24.0%-7.7% +13.0%
3 years +260.1%+343.3%+48.0% +86.3%
3 years, per year +53.3%+64.3%+14.0% +23.1%
5 years +209.7%+340.1%+8.3% +68.6%
5 years, per year +25.4%+34.5%+1.6% +11.0%
10 years +263.0%+529.4%+71.8% +258.0%
10 years, per year +13.8%+20.2%+5.6% +13.6%

Risk

MeasureAEMAUBTGSPY
Volatility, 1Y 48.1%60.2%60.4% 12.7%
Downside volatility, 1Y 50.9%62.2%60.4% 12.7%
Beta vs S&P 500, 1Y 1.732.202.12 1.00
Return / volatility, 1Y 0.160.40-0.13 1.02
Max drawdown, 5Y -45.9%-52.8%-53.7% -25.4%
From 52-week high -30.3%-33.7%-22.5% -1.8%
52-week high $252.19$128.26$6.21 $779.14
52-week low $136.36$63.61$3.64 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAEMAUBTG
P/E now vs peer median 15.0xmedian 12.8x 11.4xmedian 12.8x 7.8xmedian 12.8x
P/S now vs peer median 6.0xmedian 3.1x 3.6xmedian 3.1x —median 3.1x
EV/EBITDA now vs peer median 7.5xmedian 7.0x —median 7.0x 4.7xmedian 7.0x
P/FCF now vs peer median 16.2xmedian 15.2x 6.8xmedian 15.2x 6.4xmedian 15.2x
P/B now vs peer median 3.1xmedian 2.1x 4.8xmedian 2.1x 1.6xmedian 2.1x
PEG now vs peer median 0.52median 0.29 —median 0.29 0.41median 0.29

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAEMAUBTG
Revenue $14.53B $11.83B –
Gross profit $9.99B $6.48B $1.86B
Operating income $9.64B $4.91B $1.93B
Net income $5.87B $4.48B $828.55M
Free cash flow $5.43B $6.34B $1.00B
R&D $226.87M $259.00M –
EPS (diluted) $11.67 $7.48 $0.55
Cash & equivalents $3.46B $2.78B $286.58M
Total debt $785.64M $1.57B $2.06B
Shares (diluted) 503.43M 509.09M 1.48B
Enterprise value $79.53B $31.64B $5.07B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAEMAUBTG
P/E 15.0x 11.4x 7.8x
P/FCF 16.2x 6.8x 6.4x
P/Operating cash flow 11.8x 6.9x 6.4x
P/S 6.0x 3.6x –
P/B 3.1x 4.8x 1.6x
P/Tangible book 3.1x 4.8x 1.6x
EV/EBITDA 7.5x – 4.7x
EV/EBIT 8.8x 8.5x 3.4x
EV/Revenue 5.8x 3.5x –
EV/FCF 15.6x 6.6x 6.6x
EV/Operating cash flow 11.4x 6.7x 6.6x
PEG (3Y EPS CAGR) 0.52 – 0.41

Growth

14 metrics
MetricAEMAUBTG
Revenue growth (1Y) 50.3% 54.6% –
Revenue CAGR (3Y) 33.8% – –
Gross profit growth (1Y) 72.8% 97.4% 107.1%
Gross profit CAGR (3Y) 44.0% – 35.3%
Operating income growth (1Y) 49.1% 165.2% 1,748%
Operating income CAGR (3Y) 42.3% – 46.0%
Net income growth (1Y) 98.5% 115.8% 298.7%
Net income CAGR (3Y) 34.7% – 33.4%
EPS growth (1Y) 97.4% 78.5% 272.5%
EPS CAGR (3Y) 28.7% – 19.0%
Operating cash flow growth (1Y) 45.3% 103.4% 86.2%
Operating cash flow CAGR (3Y) 47.2% – 9.5%
Free cash flow growth (1Y) 55.8% 108.6% 86.2%
Free cash flow CAGR (3Y) 11.0% – 9.5%

Profitability

14 metrics
MetricAEMAUBTG
Gross margin 68.8% 54.8% –
EBITDA margin 78.0% – –
Operating margin 66.3% 41.5% –
Pretax margin 60.4% 51.7% –
Net margin 40.4% 32.2% –
FCF margin 37.4% 53.6% –
Operating cash flow margin 51.1% 52.3% –
Return on equity 21.4% 46.3% 44.1%
Return on assets 16.1% 28.7% 29.1%
Return on invested capital 23.3% 40.5% 44.5%
Return on capital employed 27.9% 35.2% –
Asset turnover 0.4x 0.8x –
Cash conversion (OCF / net income) 1.3x 1.4x 1.2x
Stock comp / revenue 0.7% – –

Financial Health

11 metrics
MetricAEMAUBTG
Debt / assets 0.5% 10.1% 7.9%
Debt / equity 0.0x 0.2x 0.1x
Net debt / EBITDA -0.3x – 0.1x
Debt / FCF 0.0x 0.2x 0.5x
Liabilities / assets 24.3% 42.4% 30.3%
Equity / assets 75.7% 57.6% 69.7%
Interest coverage 131.9x – 31.7x
Current ratio 2.9x 2.7x –
Quick ratio 1.8x 2.1x –
Cash ratio 1.8x 1.8x –
Altman Z-score 7.38 – –

Shareholder Returns

7 metrics
MetricAEMAUBTG
Dividend yield 1.0% 5.3% 1.7%
Net buyback yield 0.3% – -3.8%
Shareholder yield 1.3% 5.3% -2.1%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAEMAUBTG
Forward P/E 16.1xFY2026 10.0xFY2026 8.3xFY2026
EPS, next fiscal year $10.92FY2026 $8.52FY2026 $0.58FY2026
EPS growth, next FY +32.8%FY2026 +58.7%FY2026 +26.1%FY2026
EPS growth, the year after +3.2% +9.9% +51.7%
Revenue, next fiscal year $14.44BFY2026 $11.81BFY2026 $3.59BFY2026
Revenue growth, next FY +22.2%FY2026 +21.4%FY2026 +17.5%FY2026
Revenue growth, the year after +2.6% +4.0% +25.6%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAEMAUBTG
Held by institutions 62.5% 45.9% 59.9%
Institutions holding 1,053 563 301
Change in shares held, QoQ -0.6% +3.0% +6.2%
Institutions buying 467 323 155
Institutions selling 396 166 85
Buyers to sellers 1.18 1.95 1.82

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AEMAUBTG
AEM 1.00 0.87 0.79
AU 0.87 1.00 0.78
BTG 0.79 0.78 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, AEM, AU and BTG?

Agnico Eagle Mines (AEM) is the largest by market capitalisation: Agnico Eagle Mines (AEM) $89.90B, AngloGold Ashanti (AU) $43.75B, B2Gold (BTG) $6.58B.

Which stock is cheaper, AEM, AU and BTG?

B2Gold (BTG) trades on the lowest price-to-earnings ratio (Agnico Eagle Mines (AEM) 15.3x, AngloGold Ashanti (AU) 11.5x, B2Gold (BTG) 8.0x). On next year's consensus earnings, B2Gold (BTG) is cheapest (Agnico Eagle Mines (AEM) 16.1x, AngloGold Ashanti (AU) 10.0x, B2Gold (BTG) 8.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

AngloGold Ashanti (AU) grew revenue fastest over the trailing twelve months: Agnico Eagle Mines (AEM) +50.3%, AngloGold Ashanti (AU) +54.6%.

Which company is more profitable?

Agnico Eagle Mines (AEM) has the highest net margin (Agnico Eagle Mines (AEM) 40.4%, AngloGold Ashanti (AU) 32.2%). On return on invested capital, B2Gold (BTG) leads (Agnico Eagle Mines (AEM) 23.3%, AngloGold Ashanti (AU) 40.5%, B2Gold (BTG) 44.5%).

Which stock has performed better?

Over the past year AngloGold Ashanti (AU) returned the most: Agnico Eagle Mines (AEM) +7.5%, AngloGold Ashanti (AU) +24.0%, B2Gold (BTG) -7.7%. Over five years, AngloGold Ashanti (AU) compounded fastest (Agnico Eagle Mines (AEM) +25.4%/yr, AngloGold Ashanti (AU) +34.5%/yr, B2Gold (BTG) +1.6%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Agnico Eagle Mines (AEM) has been the steadiest (Agnico Eagle Mines (AEM) 48.1%, AngloGold Ashanti (AU) 60.2%, B2Gold (BTG) 60.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, AEM, AU and BTG?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Agnico Eagle Mines (AEM) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.