BTG vs PAAS

For growth investors, B2Gold Corp.

(BTG) is the stronger pick with 63. 8% revenue growth year-over-year, versus 30. 6% for Pan American Silver Corp. (PAAS). B2Gold Corp. (BTG) offers the better valuation at 15. 1x trailing P/E (5. 6x forward), making it the more compelling value choice. Analysts rate B2Gold Corp. (BTG) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, B2Gold Corp.

(BTG) is the cheapest at 15. 1x versus Pan American Silver Corp. at 19. 4x. On forward P/E, B2Gold Corp. is actually cheaper at 5. 6x.

Over the past 5 years, Pan American Silver Corp.

(PAAS) delivered a total return of +59. 0%, compared to -0. 2% for B2Gold Corp. (BTG). Over 10 years, the gap is even starker: PAAS returned +265. 7% versus BTG's +157. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Pan American Silver Corp.

(PAAS) is the lower-risk stock at 0. 74β versus B2Gold Corp. 's 0. 94β — meaning BTG is approximately 28% more volatile than PAAS relative to the S&P 500. On balance sheet safety, Pan American Silver Corp. (PAAS) carries a lower debt/equity ratio of 13% versus 17% for B2Gold Corp. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), B2Gold Corp.

(BTG) is pulling ahead at 63. 8% versus 30. 6% for Pan American Silver Corp. (PAAS). On earnings-per-share growth, the picture is similar: Pan American Silver Corp. grew EPS 741. 9% year-over-year, compared to 158. 3% for B2Gold Corp.. Over a 3-year CAGR, PAAS leads at 35. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Pan American Silver Corp.

(PAAS) is the more profitable company, earning 27. 0% net margin versus 13. 1% for B2Gold Corp. — meaning it keeps 27. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BTG leads at 46. 1% versus 32. 3% for PAAS. At the gross margin level — before operating expenses — BTG leads at 50. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, B2Gold Corp.

(BTG) trades at 5. 6x forward P/E versus 10. 8x for Pan American Silver Corp. — 5. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PAAS: 48. 5% to $75. 00.

All stocks in this comparison pay dividends.

B2Gold Corp. (BTG) offers the highest yield at 1. 7%, versus 0. 9% for Pan American Silver Corp. (PAAS).

For long-horizon retirement investors, Pan American Silver Corp.

(PAAS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 74), 0. 9% yield, +265. 7% 10Y return). Both have compounded well over 10 years (PAAS: +265. 7%, BTG: +157. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Basic Materials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.