BTG vs AEM Stock Comparison

B2Gold and Agnico Eagle Mines Prices as of Oct 26, 2026 Peers: Industry group
BTG B2Gold Corp
$4.81 -12.1% 1M -7.7% 1Y
Market cap
$6.51B
P/E
7.9x
Revenue (TTM)
—
Div. yield
–
Gold Basic Materials
3 wins
AEM Agnico Eagle Mines Ltd
$175.68 -9.6% 1M +7.5% 1Y
Market cap
$89.20B
P/E
15.2x
Revenue (TTM)
$14.53B
Div. yield
–
Gold Basic Materials
6 wins

Head to Head

9 decided of 12

Agnico Eagle Mines leads on 6 of the 12 questions below (Agnico Eagle Mines 6, B2Gold 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBTGAEMLeader
Larger companyMarket capitalisation $6.51B $89.20B AEM
Cheaper on earningsLower P/E, profitable companies only 7.9x 15.2x BTG
Cheaper on forward earningsLower price / next fiscal year consensus EPS 8.2x 16.1x BTG
Faster revenue growthRevenue growth, trailing twelve months — +50.3% –
More profitableNet margin, trailing twelve months — 40.4% –
Better return on capitalReturn on invested capital 44.5% 23.3% BTG
Less leveragedLower net debt / EBITDA 0.1x -0.3x AEM
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -7.7% +7.5% AEM
Better 5-year returnAnnualised price return, 5 years +1.6%/yr +25.4%/yr AEM
Less volatileAnnualised volatility, 1 year 60.4% 48.1% AEM
Higher overall scoreMean of the five percentile scores vs peers 76/100 78/100 AEM

Percentile Scorecard

BTGAEM

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

AxisBTGAEM
Valuation 94 #11 of 162 65 #58 of 162
Growth 84 #24 of 147 75 #38 of 147
Profitability 96 #6 of 122 95 #7 of 122
Financial Health 65 #59 of 165 76 #40 of 165
Shareholder Returns 42 #63 of 107 79 #23 of 107
Overall 76 78
  • BTG ranked among 176 companies in Metals and Mining
  • AEM 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

PeriodBTGAEMSPY
1 month -12.1%-9.6% -0.8%
3 months +24.3%+20.4% +3.5%
6 months +5.9%-11.3% +7.0%
Year to date +6.7%+3.6% +12.2%
1 year -7.7%+7.5% +13.0%
3 years +48.0%+260.1% +86.3%
3 years, per year +14.0%+53.3% +23.1%
5 years +8.3%+209.7% +68.6%
5 years, per year +1.6%+25.4% +11.0%
10 years +71.8%+263.0% +258.0%
10 years, per year +5.6%+13.8% +13.6%

Risk

MeasureBTGAEMSPY
Volatility, 1Y 60.4%48.1% 12.7%
Downside volatility, 1Y 60.4%50.9% 12.7%
Beta vs S&P 500, 1Y 2.121.73 1.00
Return / volatility, 1Y -0.130.16 1.02
Max drawdown, 5Y -53.7%-45.9% -25.4%
From 52-week high -22.5%-30.3% -1.8%
52-week high $6.21$252.19 $779.14
52-week low $3.64$136.36 $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.

MultipleBTGAEM
P/E now vs peer median 7.8xmedian 12.8x 15.0xmedian 12.8x
P/S now vs peer median —median 3.1x 6.0xmedian 3.1x
EV/EBITDA now vs peer median 4.7xmedian 7.0x 7.5xmedian 7.0x
P/FCF now vs peer median 6.4xmedian 15.2x 16.2xmedian 15.2x
P/B now vs peer median 1.6xmedian 2.1x 3.1xmedian 2.1x
PEG now vs peer median 0.41median 0.29 0.52median 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 monthsBTGAEM
Revenue – $14.53B
Gross profit $1.86B $9.99B
Operating income $1.93B $9.64B
Net income $828.55M $5.87B
Free cash flow $1.00B $5.43B
R&D – $226.87M
EPS (diluted) $0.55 $11.67
Cash & equivalents $286.58M $3.46B
Total debt $2.06B $785.64M
Shares (diluted) 1.48B 503.43M
Enterprise value $4.99B $78.83B

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
MetricBTGAEM
P/E 7.8x 15.0x
P/FCF 6.4x 16.2x
P/Operating cash flow 6.4x 11.8x
P/S – 6.0x
P/B 1.6x 3.1x
P/Tangible book 1.6x 3.1x
EV/EBITDA 4.7x 7.5x
EV/EBIT 3.4x 8.8x
EV/Revenue – 5.8x
EV/FCF 6.6x 15.6x
EV/Operating cash flow 6.6x 11.4x
PEG (3Y EPS CAGR) 0.41 0.52

Growth

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

Profitability

14 metrics
MetricBTGAEM
Gross margin – 68.8%
EBITDA margin – 78.0%
Operating margin – 66.3%
Pretax margin – 60.4%
Net margin – 40.4%
FCF margin – 37.4%
Operating cash flow margin – 51.1%
Return on equity 44.1% 21.4%
Return on assets 29.1% 16.1%
Return on invested capital 44.5% 23.3%
Return on capital employed – 27.9%
Asset turnover – 0.4x
Cash conversion (OCF / net income) 1.2x 1.3x
Stock comp / revenue – 0.7%

Financial Health

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

Shareholder Returns

7 metrics
MetricBTGAEM
Dividend yield 1.7% 1.0%
Net buyback yield -3.8% 0.3%
Shareholder yield -2.1% 1.3%
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.

ConsensusBTGAEM
Forward P/E 8.2xFY2026 16.1xFY2026
EPS, next fiscal year $0.59FY2026 $10.93FY2026
EPS growth, next FY +28.3%FY2026 +33.0%FY2026
EPS growth, the year after +49.2% +3.3%
Revenue, next fiscal year $3.59BFY2026 $14.44BFY2026
Revenue growth, next FY +17.5%FY2026 +22.2%FY2026
Revenue growth, the year after +25.6% +2.6%

Institutional Ownership

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

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.

BTGAEM
BTG 1.00 0.79
AEM 0.79 1.00

Add a Peer

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Frequently Asked Questions

Which is bigger, BTG and AEM?

Agnico Eagle Mines (AEM) is the largest by market capitalisation: B2Gold (BTG) $6.51B, Agnico Eagle Mines (AEM) $89.20B.

Which stock is cheaper, BTG and AEM?

B2Gold (BTG) trades on the lowest price-to-earnings ratio (B2Gold (BTG) 7.9x, Agnico Eagle Mines (AEM) 15.2x). On next year's consensus earnings, B2Gold (BTG) is cheapest (B2Gold (BTG) 8.2x, Agnico Eagle Mines (AEM) 16.1x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which stock has performed better?

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

Which stock is riskier?

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

Do BTG and AEM move together?

Their daily returns over the past year have a correlation of 0.79, a strong positive relationship. Holding both adds little diversification.

Which is the better stock, BTG and AEM?

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 6. 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.