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Stock Comparison

ARMN vs EQX vs OR vs MGY vs MUX

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
ARMN
Aris Mining Corporation

Gold

Basic MaterialsAMEX • CA
Market Cap$3.93B
5Y Perf.+747.1%
EQX
Equinox Gold Corp.

Gold

Basic MaterialsAMEX • CA
Market Cap$11.33B
5Y Perf.+241.8%
OR
OR Royalties Inc.

Gold

Basic MaterialsNYSE • CA
Market Cap$7.02B
5Y Perf.+223.6%
MGY
Magnolia Oil & Gas Corporation

Oil & Gas Exploration & Production

EnergyNYSE • US
Market Cap$5.23B
5Y Perf.+37.8%
MUX
McEwen Mining Inc.

Other Precious Metals

Basic MaterialsNYSE • CA
Market Cap$1.39B
5Y Perf.+214.2%

ARMN vs EQX vs OR vs MGY vs MUX — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
ARMN logoARMN
EQX logoEQX
OR logoOR
MGY logoMGY
MUX logoMUX
IndustryGoldGoldGoldOil & Gas Exploration & ProductionOther Precious Metals
Market Cap$3.93B$11.33B$7.02B$5.23B$1.39B
Revenue (TTM)$925M$1.85B$279M$1.32B$162M
Net Income (TTM)$78M$225M$207M$322M$74M
Gross Margin48.7%25.0%83.7%46.5%32.9%
Operating Margin38.9%23.8%71.0%32.7%22.2%
Forward P/E8.4x10.4x18.3x10.3x22.2x
Total Debt$526M$1.55B$9M$420M$926K
Cash & Equiv.$392M$407M$142M$267M$51M

ARMN vs EQX vs OR vs MGY vs MUXLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

ARMN
EQX
OR
MGY
MUX
StockSep 23Apr 26Return
Aris Mining Corpora… (ARMN)100847.1+747.1%
Equinox Gold Corp. (EQX)100341.8+241.8%
OR Royalties Inc. (OR)100323.6+223.6%
Magnolia Oil & Gas … (MGY)100137.8+37.8%
McEwen Mining Inc. (MUX)100314.2+214.2%

Price return only. Dividends and distributions are not included.

Quick Verdict: ARMN vs EQX vs OR vs MGY vs MUX

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: ARMN leads in 3 of 7 categories (5-stock set), making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. OR Royalties Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. MGY also leads in specific categories worth noting. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
ARMN
Aris Mining Corporation
The Growth Play

ARMN carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.

  • Rev growth 81.7%, EPS growth 192.9%, 3Y rev CAGR 32.4%
  • 8.2% 10Y total return vs OR's 217.0%
  • 81.7% revenue growth vs MGY's -0.3%
  • Lower P/E (8.4x vs 22.2x)
Best for: growth exposure and long-term compounding
EQX
Equinox Gold Corp.
The Lower-Volatility Pick

EQX lags the leaders in this set but could rank higher in a more targeted comparison.

Best for: basic materials exposure
OR
OR Royalties Inc.
The Defensive Pick

OR is the #2 pick in this set and the best alternative if sleep-well-at-night and valuation efficiency is your priority.

  • Lower volatility, beta 0.54, Low D/E 0.6%, current ratio 4.53x
  • PEG 0.30 vs EQX's 0.36
  • 74.3% margin vs ARMN's 8.4%
  • 12.7% ROA vs EQX's 2.4%, ROIC 12.2% vs 5.7%
Best for: sleep-well-at-night and valuation efficiency
MGY
Magnolia Oil & Gas Corporation
The Income Pick

MGY ranks third and is worth considering specifically for income & stability and defensive.

  • Dividend streak 5 yrs, beta 0.24, yield 2.2%
  • Beta 0.24, yield 2.2%, current ratio 1.54x
  • Beta 0.24 vs MUX's 1.27
  • 2.2% yield, 5-year raise streak, vs OR's 0.5%, (2 stocks pay no dividend)
Best for: income & stability and defensive
MUX
McEwen Mining Inc.
The Basic Materials Pick

Among these 5 stocks, MUX doesn't own a clear edge in any measured category.

Best for: basic materials exposure
See the full category breakdown
CategoryWinnerWhy
GrowthARMN logoARMN81.7% revenue growth vs MGY's -0.3%
ValueARMN logoARMNLower P/E (8.4x vs 22.2x)
Quality / MarginsOR logoOR74.3% margin vs ARMN's 8.4%
Stability / SafetyMGY logoMGYBeta 0.24 vs MUX's 1.27
DividendsMGY logoMGY2.2% yield, 5-year raise streak, vs OR's 0.5%, (2 stocks pay no dividend)
Momentum (1Y)ARMN logoARMN+231.0% vs MGY's +39.1%
Efficiency (ROA)OR logoOR12.7% ROA vs EQX's 2.4%, ROIC 12.2% vs 5.7%

ARMN vs EQX vs OR vs MGY vs MUX — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

ARMNAris Mining Corporation

Segment breakdown not available.

EQXEquinox Gold Corp.
FY 2021
Gold
99.7%$1.1B
Silver
0.3%$3M
OROR Royalties Inc.

Segment breakdown not available.

MGYMagnolia Oil & Gas Corporation
FY 2025
Oil and Condensate
82.8%$918M
Natural Gas
17.2%$190M
MUXMcEwen Mining Inc.
FY 2025
United States Reportable Segment
59.1%$117M
Canada Reportable Segment
38.5%$76M
Mexico Reportable Segment
2.4%$5M

ARMN vs EQX vs OR vs MGY vs MUX — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLMGYLAGGINGMUX

Income & Cash Flow (Last 12 Months)

OR leads this category, winning 4 of 6 comparable metrics.

EQX is the larger business by revenue, generating $1.8B annually — 11.4x MUX's $162M. OR is the more profitable business, keeping 74.3% of every revenue dollar as net income compared to ARMN's 8.4%. On growth, ARMN holds the edge at +104.2% YoY revenue growth, suggesting stronger near-term business momentum.

MetricARMN logoARMNAris Mining Corpo…EQX logoEQXEquinox Gold Corp.OR logoOROR Royalties Inc.MGY logoMGYMagnolia Oil & Ga…MUX logoMUXMcEwen Mining Inc.
RevenueTrailing 12 months$925M$1.8B$279M$1.3B$162M
EBITDAEarnings before interest/tax$346M$966M$235M$880M$61M
Net IncomeAfter-tax profit$78M$225M$207M$322M$74M
Free Cash FlowCash after capex$100M-$7M$210M$396M-$24M
Gross MarginGross profit ÷ Revenue+48.7%+25.0%+83.7%+46.5%+32.9%
Operating MarginEBIT ÷ Revenue+38.9%+23.8%+71.0%+32.7%+22.2%
Net MarginNet income ÷ Revenue+8.4%+12.2%+74.3%+24.4%+45.7%
FCF MarginFCF ÷ Revenue+10.8%-0.4%+75.2%+30.0%-14.7%
Rev. Growth (YoY)Latest quarter vs prior year+104.2%-76.2%+66.4%+2.3%-100.0%
EPS Growth (YoY)Latest quarter vs prior year+92.3%+3.3%+4.9%0.0%+4.9%
OR leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

MGY leads this category, winning 4 of 7 comparable metrics.

At 16.1x trailing earnings, MGY trades at a 66% valuation discount to ARMN's 46.9x P/E. Adjusting for growth (PEG ratio), OR offers better value at 0.55x vs EQX's 1.37x — a lower PEG means you pay less per unit of expected earnings growth.

MetricARMN logoARMNAris Mining Corpo…EQX logoEQXEquinox Gold Corp.OR logoOROR Royalties Inc.MGY logoMGYMagnolia Oil & Ga…MUX logoMUXMcEwen Mining Inc.
Market CapShares × price$3.9B$11.3B$7.0B$5.2B$1.4B
Enterprise ValueMkt cap + debt − cash$4.1B$12.5B$6.9B$5.4B$1.3B
Trailing P/EPrice ÷ TTM EPS46.90x39.92x33.74x16.09x39.61x
Forward P/EPrice ÷ next-FY EPS est.8.36x10.39x18.32x10.32x22.21x
PEG RatioP/E ÷ EPS growth rate1.37x0.55x
EV / EBITDAEnterprise value multiple9.89x12.91x28.31x6.09x74.65x
Price / SalesMarket cap ÷ Revenue4.24x6.13x24.89x3.98x7.03x
Price / BookPrice ÷ Book value/share2.54x1.57x4.96x2.61x2.31x
Price / FCFMarket cap ÷ FCF30.47x33.08x12.77x
MGY leads this category, winning 4 of 7 comparable metrics.

Profitability & Efficiency

OR leads this category, winning 4 of 9 comparable metrics.

MGY delivers a 16.0% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $5 for EQX. MUX carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to ARMN's 0.36x. On the Piotroski fundamental quality scale (0–9), ARMN scores 7/9 vs MUX's 5/9, reflecting strong financial health.

MetricARMN logoARMNAris Mining Corpo…EQX logoEQXEquinox Gold Corp.OR logoOROR Royalties Inc.MGY logoMGYMagnolia Oil & Ga…MUX logoMUXMcEwen Mining Inc.
ROE (TTM)Return on equity+6.0%+4.5%+14.1%+16.0%+13.6%
ROA (TTM)Return on assets+3.4%+2.4%+12.7%+11.1%+9.0%
ROICReturn on invested capital+18.3%+5.7%+12.2%+15.4%-1.9%
ROCEReturn on capital employed+17.6%+5.8%+14.2%+17.1%-1.9%
Piotroski ScoreFundamental quality 0–976765
Debt / EquityFinancial leverage0.36x0.27x0.01x0.21x0.00x
Net DebtTotal debt minus cash$134M$1.1B-$133M$153M-$50M
Cash & Equiv.Liquid assets$392M$407M$142M$267M$51M
Total DebtShort + long-term debt$526M$1.6B$9M$420M$926,000
Interest CoverageEBIT ÷ Interest expense6.70x1.73x55.06x19.21x-1.52x
OR leads this category, winning 4 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

ARMN leads this category, winning 5 of 6 comparable metrics.

A $10,000 investment in ARMN five years ago would be worth $92,093 today (with dividends reinvested), compared to $16,055 for EQX. Over the past 12 months, ARMN leads with a +231.0% total return vs MGY's +39.1%. The 3-year compound annual growth rate (CAGR) favors ARMN at 108.9% vs MGY's 14.4% — a key indicator of consistent wealth creation.

MetricARMN logoARMNAris Mining Corpo…EQX logoEQXEquinox Gold Corp.OR logoOROR Royalties Inc.MGY logoMGYMagnolia Oil & Ga…MUX logoMUXMcEwen Mining Inc.
YTD ReturnYear-to-date+21.6%+5.0%+6.5%+26.0%+25.1%
1-Year ReturnPast 12 months+231.0%+110.6%+57.1%+39.1%+198.5%
3-Year ReturnCumulative with dividends+811.4%+151.5%+117.1%+49.6%+163.5%
5-Year ReturnCumulative with dividends+820.9%+60.5%+184.8%+146.6%+79.8%
10-Year ReturnCumulative with dividends+824.8%+236.5%+217.0%+203.8%-0.1%
CAGR (3Y)Annualised 3-year return+108.9%+36.0%+29.5%+14.4%+38.1%
ARMN leads this category, winning 5 of 6 comparable metrics.

Risk & Volatility

MGY leads this category, winning 2 of 2 comparable metrics.

MGY is the less volatile stock with a 0.24 beta — it tends to amplify market swings less than MUX's 1.27 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MGY currently trades 85.9% from its 52-week high vs EQX's 75.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricARMN logoARMNAris Mining Corpo…EQX logoEQXEquinox Gold Corp.OR logoOROR Royalties Inc.MGY logoMGYMagnolia Oil & Ga…MUX logoMUXMcEwen Mining Inc.
Beta (5Y)Sensitivity to S&P 5000.46x0.72x0.54x0.24x1.27x
52-Week HighHighest price in past year$23.29$18.96$48.06$32.76$29.70
52-Week LowLowest price in past year$5.54$5.61$22.40$20.45$6.88
% of 52W HighCurrent price vs 52-week peak+82.6%+75.8%+77.9%+85.9%+78.7%
RSI (14)Momentum oscillator 0–10048.150.250.143.451.0
Avg Volume (50D)Average daily shares traded1.3M8.9M1.0M2.5M992K
MGY leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

MGY leads this category, winning 2 of 2 comparable metrics.

Analyst consensus: ARMN as "Buy", EQX as "Buy", OR as "Buy", MGY as "Buy", MUX as "Buy". Consensus price targets imply 28.4% upside for MUX (target: $30) vs 3.4% for MGY (target: $29). For income investors, MGY offers the higher dividend yield at 2.16% vs MUX's 0.18%.

MetricARMN logoARMNAris Mining Corpo…EQX logoEQXEquinox Gold Corp.OR logoOROR Royalties Inc.MGY logoMGYMagnolia Oil & Ga…MUX logoMUXMcEwen Mining Inc.
Analyst RatingConsensus buy/hold/sellBuyBuyBuyBuyBuy
Price TargetConsensus 12-month target$44.50$29.11$30.00
# AnalystsCovering analysts119267
Dividend YieldAnnual dividend ÷ price+0.5%+2.2%+0.2%
Dividend StreakConsecutive years of raises0250
Dividend / ShareAnnual DPS$0.19$0.61$0.04
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%+0.5%+3.9%0.0%
MGY leads this category, winning 2 of 2 comparable metrics.
Key Takeaway

MGY leads in 3 of 6 categories (Valuation Metrics, Risk & Volatility). OR leads in 2 (Income & Cash Flow, Profitability & Efficiency).

Best OverallMagnolia Oil & Gas Corporat… (MGY)Leads 3 of 6 categories
Loading custom metrics...

ARMN vs EQX vs OR vs MGY vs MUX: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is ARMN or EQX or OR or MGY or MUX a better buy right now?

For growth investors, Aris Mining Corporation (ARMN) is the stronger pick with 81.

7% revenue growth year-over-year, versus -0. 3% for Magnolia Oil & Gas Corporation (MGY). Magnolia Oil & Gas Corporation (MGY) offers the better valuation at 16. 1x trailing P/E (10. 3x forward), making it the more compelling value choice. Analysts rate Aris Mining Corporation (ARMN) a "Buy" — based on 1 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.

02

Which has the better valuation — ARMN or EQX or OR or MGY or MUX?

On trailing P/E, Magnolia Oil & Gas Corporation (MGY) is the cheapest at 16.

1x versus Aris Mining Corporation at 46. 9x. On forward P/E, Aris Mining Corporation is actually cheaper at 8. 4x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: OR Royalties Inc. wins at 0. 30x versus Equinox Gold Corp. 's 0. 36x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

03

Which is the better long-term investment — ARMN or EQX or OR or MGY or MUX?

Over the past 5 years, Aris Mining Corporation (ARMN) delivered a total return of +820.

9%, compared to +60. 5% for Equinox Gold Corp. (EQX). Over 10 years, the gap is even starker: ARMN returned +824. 8% versus MUX's -0. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — ARMN or EQX or OR or MGY or MUX?

By beta (market sensitivity over 5 years), Magnolia Oil & Gas Corporation (MGY) is the lower-risk stock at 0.

24β versus McEwen Mining Inc. 's 1. 27β — meaning MUX is approximately 435% more volatile than MGY relative to the S&P 500. On balance sheet safety, McEwen Mining Inc. (MUX) carries a lower debt/equity ratio of 0% versus 36% for Aris Mining Corporation — giving it more financial flexibility in a downturn.

05

Which is growing faster — ARMN or EQX or OR or MGY or MUX?

By revenue growth (latest reported year), Aris Mining Corporation (ARMN) is pulling ahead at 81.

7% versus -0. 3% for Magnolia Oil & Gas Corporation (MGY). On earnings-per-share growth, the picture is similar: OR Royalties Inc. grew EPS 825. 0% year-over-year, compared to -47. 1% for Equinox Gold Corp.. Over a 3-year CAGR, ARMN leads at 32. 4% 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.

06

Which has better profit margins — ARMN or EQX or OR or MGY or MUX?

OR Royalties Inc.

(OR) is the more profitable company, earning 74. 3% net margin versus 8. 4% for Aris Mining Corporation — meaning it keeps 74. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: OR leads at 72. 9% versus -6. 5% for MUX. At the gross margin level — before operating expenses — OR leads at 83. 4%, 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.

07

Is ARMN or EQX or OR or MGY or MUX more undervalued right now?

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, OR Royalties Inc. (OR) is the more undervalued stock at a PEG of 0. 30x versus Equinox Gold Corp. 's 0. 36x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Aris Mining Corporation (ARMN) trades at 8. 4x forward P/E versus 22. 2x for McEwen Mining Inc. — 13. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MUX: 28. 4% to $30. 00.

08

Which pays a better dividend — ARMN or EQX or OR or MGY or MUX?

In this comparison, MGY (2.

2% yield), OR (0. 5% yield), MUX (0. 2% yield) pay a dividend. ARMN, EQX do not pay a meaningful dividend and should not be held primarily for income.

09

Is ARMN or EQX or OR or MGY or MUX better for a retirement portfolio?

For long-horizon retirement investors, Magnolia Oil & Gas Corporation (MGY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

24), 2. 2% yield, +203. 8% 10Y return). Both have compounded well over 10 years (MGY: +203. 8%, MUX: -0. 1%), 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.

10

What are the main differences between ARMN and EQX and OR and MGY and MUX?

These companies operate in different sectors (ARMN (Basic Materials) and EQX (Basic Materials) and OR (Basic Materials) and MGY (Energy) and MUX (Basic Materials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: ARMN is a small-cap high-growth stock; EQX is a mid-cap high-growth stock; OR is a small-cap high-growth stock; MGY is a small-cap deep-value stock; MUX is a small-cap quality compounder stock. OR, MGY pay a dividend while ARMN, EQX, MUX do not, making them suitable for different income and tax situations. 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.

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ARMN

High-Growth Disruptor

  • Sector: Basic Materials
  • Market Cap > $100B
  • Revenue Growth > 52%
  • Net Margin > 5%
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EQX

Quality Business

  • Sector: Basic Materials
  • Market Cap > $100B
  • Net Margin > 7%
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OR

High-Growth Quality Leader

  • Sector: Basic Materials
  • Market Cap > $100B
  • Revenue Growth > 33%
  • Net Margin > 44%
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MGY

Dividend Mega-Cap Quality

  • Sector: Energy
  • Market Cap > $100B
  • Net Margin > 14%
  • Dividend Yield > 0.8%
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MUX

Quality Mega-Cap Compounder

  • Sector: Basic Materials
  • Market Cap > $100B
  • Net Margin > 27%
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Custom Screen

Beat Both

Find stocks that outperform ARMN and EQX and OR and MGY and MUX on the metrics below

Revenue Growth>
%
(ARMN: 104.2% · EQX: -76.2%)
Net Margin>
%
(ARMN: 8.4% · EQX: 12.2%)
P/E Ratio<
x
(ARMN: 46.9x · EQX: 39.9x)

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