NGD vs AG vs PAAS vs HL

For growth investors, First Majestic Silver Corp.

(AG) is the stronger pick with 128. 2% revenue growth year-over-year, versus 30. 6% for Pan American Silver Corp. (PAAS). Pan American Silver Corp. (PAAS) offers the better valuation at 22. 1x trailing P/E (12. 4x forward), making it the more compelling value choice. Analysts rate New Gold Inc. (NGD) a "Buy" — based on 18 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, Pan American Silver Corp.

(PAAS) is the cheapest at 22. 1x versus New Gold Inc. at 64. 9x. On forward P/E, New Gold Inc. is actually cheaper at 6. 6x — 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: Pan American Silver Corp. wins at 0. 49x versus First Majestic Silver Corp. 's 0. 78x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, New Gold Inc.

(NGD) delivered a total return of +390. 8%, compared to +31. 0% for First Majestic Silver Corp. (AG). Over 10 years, the gap is even starker: HL returned +360. 6% versus NGD's +110. 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. 74β versus First Majestic Silver Corp. 's 1. 56β — meaning AG is approximately 112% 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 21% for New Gold Inc. — 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 30. 6% for Pan American Silver Corp. (PAAS). On earnings-per-share growth, the picture is similar: Hecla Mining Company grew EPS 765. 7% year-over-year, compared to 202. 9% for First Majestic 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.

New Gold Inc.

(NGD) is the more profitable company, earning 58. 1% net margin versus 13. 1% for First Majestic Silver Corp. — meaning it keeps 58. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NGD leads at 44. 4% versus 27. 8% for AG. At the gross margin level — before operating expenses — NGD leads at 53. 2%, 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, Pan American Silver Corp. (PAAS) is the more undervalued stock at a PEG of 0. 49x versus First Majestic Silver Corp. 's 0. 78x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, New Gold Inc. (NGD) trades at 6. 6x forward P/E versus 20. 4x for First Majestic Silver Corp. — 13. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NGD: 36. 3% to $12. 38.

In this comparison, PAAS (0.

8% yield) pays a dividend. NGD, AG, HL 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). First Majestic Silver Corp. (AG) carries a higher beta of 1. 56 — 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%, AG: +128. 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.

PAAS pays a dividend while NGD, AG, HL 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.