HL vs PAAS vs CDE vs EXK vs FSM

For growth investors, Coeur Mining, Inc.

(CDE) is the stronger pick with 96. 4% revenue growth year-over-year, versus -9. 6% for Fortuna Mining Corp. (FSM). Fortuna Mining Corp. (FSM) offers the better valuation at 11. 6x trailing P/E (7. 1x forward), making it the more compelling value choice. Analysts rate Pan American Silver Corp. (PAAS) a "Buy" — based on 24 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 11. 6x versus Hecla Mining Company at 36. 9x. On forward P/E, Fortuna Mining Corp. is actually cheaper at 7. 1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Fortuna Mining Corp. wins at 0. 14x versus Pan American Silver Corp. 's 0. 49x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Hecla Mining Company (HL) delivered a total return of +150.

3%, compared to +61. 1% for Endeavour Silver Corp. (EXK). Over 10 years, the gap is even starker: HL returned +360. 6% versus FSM's +73. 4%. 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 Coeur Mining, Inc. 's 1. 81β — meaning CDE is approximately 146% more volatile than PAAS relative to the S&P 500. On balance sheet safety, Coeur Mining, Inc. (CDE) carries a lower debt/equity ratio of 11% versus 25% for Endeavour Silver Corp. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Coeur Mining, Inc.

(CDE) is pulling ahead at 96. 4% versus -9. 6% for Fortuna Mining Corp. (FSM). On earnings-per-share growth, the picture is similar: Hecla Mining Company grew EPS 765. 7% year-over-year, compared to -519. 4% for Endeavour Silver Corp.. Over a 3-year CAGR, CDE leads at 38. 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. 14x versus Pan American Silver Corp. 's 0. 49x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Fortuna Mining Corp. (FSM) trades at 7. 1x forward P/E versus 19. 1x for Hecla Mining Company — 12. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CDE: 60. 1% to $29. 00.

In this comparison, PAAS (0.

8% yield) pays a dividend. HL, CDE, EXK, FSM 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. 74), 0. 8% yield, +326. 1% 10Y return). Coeur Mining, Inc. (CDE) carries a higher beta of 1. 81 — 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: +326. 1%, CDE: +149. 9%), 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: HL is a mid-cap high-growth stock; PAAS is a mid-cap high-growth stock; CDE is a mid-cap high-growth stock; EXK is a small-cap quality compounder stock; FSM is a small-cap deep-value stock. PAAS pays a dividend while HL, CDE, EXK, FSM 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.