AEM vs IAG vs PAAS Stock Comparison

Agnico Eagle Mines, Iamgold and Pan American Silver Prices as of Oct 28, 2026 Peers: Industry group
AEM Agnico Eagle Mines Ltd
$183.26 -0.4% 1M +16.9% 1Y
Market cap
$91.64B
P/E
14.9x
Revenue (TTM)
$15.05B
Div. yield
0.95%
Gold Basic Materials
3 wins
IAG Iamgold Corp
$17.28 -7.4% 1M +49.1% 1Y
Market cap
$10.21B
P/E
6.9x
Revenue (TTM)
$3.68B
Div. yield
–
Gold Basic Materials
7 wins

Head to Head

12 decided of 12

Iamgold leads on 7 of the 12 questions below (Iamgold 7, Agnico Eagle Mines 3, Pan American Silver 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAEMIAGPAASLeader
Larger companyMarket capitalisation $91.64B $10.21B $17.70B AEM
Cheaper on earningsLower P/E, profitable companies only 14.9x 6.9x 51.7x IAG
Cheaper on forward earningsLower price / next fiscal year consensus EPS 16.8x 9.3x 13.2x IAG
Faster revenue growthRevenue growth, trailing twelve months +42.4% +87.2% +2.3% IAG
More profitableNet margin, trailing twelve months 41.0% 39.4% 9.7% AEM
Better return on capitalReturn on invested capital 21.0% 52.3% 0.0% IAG
Less leveragedLower net debt / EBITDA -0.3x 0.0x -4.4x PAAS
Higher dividend yieldTrailing dividend yield 0.95% 0.00% 1.62% PAAS
Better 1-year returnPrice return, last 12 months +16.9% +49.1% +19.1% IAG
Better 5-year returnAnnualised price return, 5 years +28.2%/yr +44.3%/yr +10.4%/yr IAG
Less volatileAnnualised volatility, 1 year 48.1% 63.5% 57.9% AEM
Higher overall scoreMean of the five percentile scores vs peers 78/100 88/100 68/100 IAG

Percentile Scorecard

AEMIAGPAAS

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

AxisAEMIAGPAAS
Valuation 65 #57 of 162 96 #8 of 162 57 #71 of 162
Growth 73 #41 of 147 97 #6 of 147 74 #39 of 147
Profitability 95 #7 of 122 99 #2 of 122 52 #59 of 122
Financial Health 77 #39 of 164 61 #64 of 164 85 #25 of 164
Shareholder Returns 78 #24 of 107 – 72 #31 of 107
Overall 78 88 68
  • AEM ranked among 176 companies in Metals and Mining
  • IAG ranked among 176 companies in Metals and Mining
  • PAAS 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

PeriodAEMIAGPAASSPY
1 month -0.4%-7.4%-8.3% +0.9%
3 months +27.1%+24.1%-1.3% +5.9%
6 months -0.2%+5.6%-18.2% +8.5%
Year to date +8.1%+4.8%-19.0% +13.3%
1 year +16.9%+49.1%+19.1% +12.4%
3 years +275.6%+569.8%+177.6% +88.1%
3 years, per year +55.5%+88.6%+40.6% +23.5%
5 years +245.4%+523.8%+63.9% +68.2%
5 years, per year +28.2%+44.3%+10.4% +11.0%
10 years +271.0%+339.7%+172.0% +263.4%
10 years, per year +14.0%+16.0%+10.5% +13.8%

Risk

MeasureAEMIAGPAASSPY
Volatility, 1Y 48.1%63.5%57.9% 12.7%
Downside volatility, 1Y 50.9%64.5%60.1% 12.7%
Beta vs S&P 500, 1Y 1.742.282.07 1.00
Return / volatility, 1Y 0.350.770.33 0.98
Max drawdown, 5Y -45.9%-73.6%-59.2% -25.4%
From 52-week high -27.3%-29.7%-38.9% -0.9%
52-week high $252.19$24.57$68.70 $779.14
52-week low $136.36$10.96$33.20 $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.

MultipleAEMIAGPAAS
P/E now vs peer median 14.9xmedian 13.4x 6.9xmedian 13.4x 51.7xmedian 13.4x
P/S now vs peer median 6.1xmedian 3.2x 2.8xmedian 3.2x 5.6xmedian 3.2x
EV/EBITDA now vs peer median 8.1xmedian 7.3x 3.4xmedian 7.3x 45.4xmedian 7.3x
P/FCF now vs peer median 16.2xmedian 14.8x 4.7xmedian 14.8x 15.8xmedian 14.8x
P/B now vs peer median 3.1xmedian 2.3x 2.3xmedian 2.3x 2.4xmedian 2.3x
PEG now vs peer median 0.52median 0.31 0.06median 0.31 1.17median 0.31

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 monthsAEMIAGPAAS
Revenue $15.05B $3.68B $3.19B
Gross profit $9.92B $1.85B $882.07M
Operating income $9.17B $2.54B $1.90M
Net income $6.17B $1.27B $930.65M
Free cash flow $5.65B $2.19B $1.12B
R&D $501.74M $30.20M –
EPS (diluted) $12.26 $2.49 $0.81
Cash & equivalents $3.61B $501.40M $1.57B
Total debt $197.10M $449.30M $3.00M
Shares (diluted) 503.43M 581.70M 381.58M
Enterprise value $78.58B $8.47B $12.56B

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
MetricAEMIAGPAAS
P/E 14.9x 6.9x 51.7x
P/FCF 16.2x 4.7x 15.8x
P/Operating cash flow 12.5x 5.1x 15.8x
P/S 6.1x 2.8x 5.6x
P/B 3.1x 2.3x 2.4x
P/Tangible book 3.1x 2.3x 2.4x
EV/EBITDA 8.1x 3.4x 45.4x
EV/EBIT 9.6x 4.0x 8,488x
EV/Revenue 5.9x 2.8x 5.1x
EV/FCF 15.6x 4.6x 14.4x
EV/Operating cash flow 12.0x 5.1x 14.4x
PEG (3Y EPS CAGR) 0.52 0.06 1.17

Growth

14 metrics
MetricAEMIAGPAAS
Revenue growth (1Y) 42.4% 87.2% 2.3%
Revenue CAGR (3Y) 34.0% 58.4% 22.3%
Gross profit growth (1Y) 60.0% 192.3% -0.3%
Gross profit CAGR (3Y) 42.5% 154.4% 104.0%
Operating income growth (1Y) 25.4% 57.6% 116.1%
Operating income CAGR (3Y) 38.7% 826.2% 127.1%
Net income growth (1Y) 79.0% 34.0% 123.6%
Net income CAGR (3Y) 35.0% 112.4% 75.4%
EPS growth (1Y) 78.1% 234.8% -57.1%
EPS CAGR (3Y) 28.9% 111.5% 44.1%
Operating cash flow growth (1Y) 26.0% 328.3% 74.4%
Operating cash flow CAGR (3Y) 48.3% 67.2% –
Free cash flow growth (1Y) 28.9% 144.4% 66.2%
Free cash flow CAGR (3Y) 13.3% 122.0% 56.4%

Profitability

14 metrics
MetricAEMIAGPAAS
Gross margin 65.9% 50.3% 27.7%
EBITDA margin 72.4% 82.1% 11.1%
Operating margin 60.9% 69.1% 0.1%
Pretax margin 60.9% 49.1% 0.1%
Net margin 41.0% 39.4% 9.7%
FCF margin 37.5% 59.5% 35.1%
Operating cash flow margin 48.9% 54.3% 35.1%
Return on equity 21.2% 29.2% 0.0%
Return on assets 16.0% 21.3% 0.0%
Return on invested capital 21.0% 52.3% 0.0%
Return on capital employed 25.3% 46.9% 0.0%
Asset turnover 0.4x 0.6x 0.3x
Cash conversion (OCF / net income) 1.2x 1.6x 1.2x
Stock comp / revenue 0.6% – –

Financial Health

11 metrics
MetricAEMIAGPAAS
Debt / assets 0.5% 7.5% 0.0%
Debt / equity 0.0x 0.1x 0.0x
Net debt / EBITDA -0.3x 0.0x -4.4x
Debt / FCF 0.0x 0.2x 0.0x
Liabilities / assets 24.3% 26.1% 27.5%
Equity / assets 75.7% 73.9% 72.5%
Interest coverage 143.3x 137.4x 21.3x
Current ratio 2.7x 1.7x 14.1x
Quick ratio 1.6x 1.0x 2.5x
Cash ratio 1.6x 0.9x 2.2x
Altman Z-score 7.38 6.40 5.21

Shareholder Returns

7 metrics
MetricAEMIAGPAAS
Dividend yield 1.0% – 1.6%
Net buyback yield 0.1% – -1.4%
Shareholder yield 1.1% 0.0% 0.2%
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.

ConsensusAEMIAGPAAS
Forward P/E 16.8xFY2026 9.3xFY2026 13.2xFY2026
EPS, next fiscal year $10.92FY2026 $1.85FY2026 $3.18FY2026
EPS growth, next FY +32.8%FY2026 +51.6%FY2026 +25.7%FY2026
EPS growth, the year after +3.2% +11.4% +32.1%
Revenue, next fiscal year $14.44BFY2026 $3.73BFY2026 $4.51BFY2026
Revenue growth, next FY +22.2%FY2026 +31.3%FY2026 +24.9%FY2026
Revenue growth, the year after +2.6% +5.7% +12.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAEMIAGPAAS
Held by institutions 62.5% 65.8% 56.5%
Institutions holding 1,053 319 584
Change in shares held, QoQ -0.6% +1.5% -1.0%
Institutions buying 467 170 268
Institutions selling 396 101 199
Buyers to sellers 1.18 1.68 1.35

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.

AEMIAGPAAS
AEM 1.00 0.89 0.87
IAG 0.89 1.00 0.87
PAAS 0.87 0.87 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, AEM, IAG and PAAS?

Agnico Eagle Mines (AEM) is the largest by market capitalisation: Agnico Eagle Mines (AEM) $91.64B, Iamgold (IAG) $10.21B, Pan American Silver (PAAS) $17.70B.

Which stock is cheaper, AEM, IAG and PAAS?

Iamgold (IAG) trades on the lowest price-to-earnings ratio (Agnico Eagle Mines (AEM) 14.9x, Iamgold (IAG) 6.9x, Pan American Silver (PAAS) 51.7x). On next year's consensus earnings, Iamgold (IAG) is cheapest (Agnico Eagle Mines (AEM) 16.8x, Iamgold (IAG) 9.3x, Pan American Silver (PAAS) 13.2x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Iamgold (IAG) grew revenue fastest over the trailing twelve months: Agnico Eagle Mines (AEM) +42.4%, Iamgold (IAG) +87.2%, Pan American Silver (PAAS) +2.3%.

Which company is more profitable?

Agnico Eagle Mines (AEM) has the highest net margin (Agnico Eagle Mines (AEM) 41.0%, Iamgold (IAG) 39.4%, Pan American Silver (PAAS) 9.7%). On return on invested capital, Iamgold (IAG) leads (Agnico Eagle Mines (AEM) 21.0%, Iamgold (IAG) 52.3%, Pan American Silver (PAAS) 0.0%).

Which stock has performed better?

Over the past year Iamgold (IAG) returned the most: Agnico Eagle Mines (AEM) +16.9%, Iamgold (IAG) +49.1%, Pan American Silver (PAAS) +19.1%. Over five years, Iamgold (IAG) compounded fastest (Agnico Eagle Mines (AEM) +28.2%/yr, Iamgold (IAG) +44.3%/yr, Pan American Silver (PAAS) +10.4%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Pan American Silver (PAAS) has the highest dividend yield: Agnico Eagle Mines (AEM) 0.95%, Iamgold (IAG) 0.00%, Pan American Silver (PAAS) 1.62%. Iamgold (IAG) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Agnico Eagle Mines (AEM) has been the steadiest (Agnico Eagle Mines (AEM) 48.1%, Iamgold (IAG) 63.5%, Pan American Silver (PAAS) 57.9%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, AEM, IAG and PAAS?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Iamgold (IAG) leads on 7. 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.