Is Agnico Eagle Mines a Better Buy Than Pan American Silver?
Pan American Silver surged 11% during the past Week. You may be tempted to buy more, or may want to reduce your exposure. But there is an entirely different perspective you might be missing. Is there a better alternative? Turns out, its peer Agnico Eagle Mines gives you more. Agnico Eagle Mines (AEM) stock offers superior revenue growth across key periods, better profitability, and relatively lower valuation vs Pan American Silver (PAAS) stock, suggesting you may be better off investing in AEM
- AEM’s quarterly revenue growth was 41.9%, vs. PAAS’s 19.3%.
- In addition, its Last 12 Months revenue growth came in at 35.2%, ahead of PAAS’s 21.7%.
- AEM leads on profitability over both periods – LTM margin of 49.4% and 3-year average of 36.0%.
These differences become even clearer when you look at the financials side by side. The table highlights how PAAS’s fundamentals stack up against those of AEM on growth, margins, momentum, and valuation multiples.
Valuation & Performance Overview
| PAAS | AEM | Preferred | |
|---|---|---|---|
| Valuation | |||
| P/EBIT Ratio | 26.5 | 17.6 | AEM |
| Revenue Growth | |||
| Last Quarter | 19.3% | 41.9% | AEM |
| Last 12 Months | 21.7% | 35.2% | AEM |
| Last 3 Year Average | 28.4% | 26.0% | PAAS |
| Operating Margins | |||
| Last 12 Months | 24.3% | 49.4% | AEM |
| Last 3 Year Average | 12.4% | 36.0% | AEM |
| Momentum | |||
| Last 3 Year Return | 251.2% | 273.0% | AEM |
Note: For “Last 3 Year Return” metric, preferred stock is one with higher returns unless the returns are too high (>300%) which creates risk of sell off.
See more revenue details: PAAS Revenue Comparison | AEM Revenue Comparison
See more margin details: PAAS Operating Income Comparison | AEM Operating Income Comparison
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See detailed fundamentals on Buy or Sell AEM Stock and Buy or Sell PAAS Stock. Below we compare market return and related metrics across years.
Historical Market Performance
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | Avg | Best | |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| PAAS Return | 47% | -27% | -33% | 2% | 27% | 171% | 153% | ||
| AEM Return | 16% | -23% | 1% | 9% | 46% | 135% | 239% | <=== | |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% | ||
| Monthly Win Rates [3] | |||||||||
| PAAS Win Rate | 42% | 42% | 50% | 50% | 50% | 67% | 50% | ||
| AEM Win Rate | 58% | 50% | 50% | 58% | 50% | 92% | 60% | ||
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | 65% | <=== | |
| Max Drawdowns [4] | |||||||||
| PAAS Max Drawdown | -50% | -35% | -44% | -18% | -25% | 0% | -29% | ||
| AEM Max Drawdown | -41% | -31% | -28% | -14% | -18% | 0% | -22% | ||
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | -12% | <=== | |
[1] Cumulative total returns since the beginning of 2020
[2] 2025 data is for the year up to 12/26/2025 (YTD)
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
No matter how good the numbers, stock investment is never a smooth ride. There is a risk you must factor in. Read AEM Dip Buyer Analyses and PAAS Dip Buyer Analyses to see how these stocks have fallen and recovered in the past.
Still not sure about PAAS or AEM? Consider portfolio approach.
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Markets move differently but a mix of assets smooths volatility. A multi asset portfolio keeps you invested and reduces the impact of sharp drops in any single area.
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