FSM vs PAAS vs AG vs EXK

For growth investors, First Majestic Silver Corp.

(AG) is the stronger pick with 128. 2% revenue growth year-over-year, versus -9. 6% for Fortuna Mining Corp. (FSM). Fortuna Mining Corp. (FSM) offers the better valuation at 12. 0x trailing P/E (6. 5x forward), making it the more compelling value choice. Analysts rate Fortuna Mining Corp. (FSM) a "Buy" — based on 6 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, Fortuna Mining Corp.

(FSM) is the cheapest at 12. 0x versus First Majestic Silver Corp. at 62. 5x. On forward P/E, Fortuna Mining Corp. is actually cheaper at 6. 5x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Fortuna Mining Corp. wins at 0. 13x versus First Majestic Silver Corp. 's 0. 80x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Pan American Silver Corp.

(PAAS) delivered a total return of +77. 8%, compared to +39. 0% for First Majestic Silver Corp. (AG). Over 10 years, the gap is even starker: PAAS returned +335. 4% versus FSM's +78. 7%. 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. 88β versus Endeavour Silver Corp. 's 1. 80β — meaning EXK is approximately 103% more volatile than PAAS relative to the S&P 500. On balance sheet safety, First Majestic Silver Corp. (AG) carries a lower debt/equity ratio of 10% versus 25% for Endeavour Silver Corp. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), First Majestic Silver Corp.

(AG) is pulling ahead at 128. 2% versus -9. 6% for Fortuna Mining Corp. (FSM). On earnings-per-share growth, the picture is similar: Pan American Silver Corp. grew EPS 741. 9% year-over-year, compared to -519. 4% for Endeavour Silver 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.

Fortuna Mining Corp.

(FSM) is the more profitable company, earning 31. 5% net margin versus -14. 5% for Endeavour Silver Corp. — meaning it keeps 31. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FSM leads at 38. 5% versus 3. 8% for EXK. At the gross margin level — before operating expenses — FSM leads at 48. 7%, 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.

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, Fortuna Mining Corp. (FSM) is the more undervalued stock at a PEG of 0. 13x versus First Majestic Silver Corp. 's 0. 80x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Fortuna Mining Corp. (FSM) trades at 6. 5x forward P/E versus 20. 9x for First Majestic Silver Corp. — 14. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FSM: 30. 1% to $14. 00.

In this comparison, PAAS (0.

8% yield) pays a dividend. FSM, AG, EXK do not pay a meaningful dividend and should not be held primarily for income.

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. 88), 0. 8% yield, +335. 4% 10Y return). Endeavour Silver Corp. (EXK) carries a higher beta of 1. 80 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (PAAS: +335. 4%, EXK: +179. 5%), 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.

In terms of investment character: FSM is a small-cap deep-value stock; PAAS is a mid-cap high-growth stock; AG is a mid-cap high-growth stock; EXK is a small-cap quality compounder stock. PAAS pays a dividend while FSM, AG, EXK 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.