Equinox Gold (EQX) vs Pan American Silver (PAAS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Pan American Silver (PAAS) has outperformed Equinox Gold (EQX) over the past year, gaining 13.9% versus a loss of 7.9%. Over five years, PAAS leads with a +80.0% price change compared with +40.6% for EQX. Pan American Silver is the larger company by market cap ($18.79 billion vs $12.98 billion), about 1.4 times the size, while Equinox Gold is growing revenue faster (+99.1% vs +28.4%).
On valuation, Equinox Gold trades at a lower forward P/E (7.5x vs 9.9x for Pan American Silver). Pan American Silver offers the higher dividend yield (1.37% vs 0.27%). Pan American Silver converts more of its revenue into profit, with a net margin of 27.1% versus 12.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | EQX | PAAS |
|---|---|---|
| Share price | $11.12 | $45.31 |
| Market cap | $12.98B | $18.79B |
| 1-day change | +1.55% | +2.16% |
| YTD return | -20.80% | -12.55% |
| 1-year return | -7.87% | +13.87% |
| 5-year return | +40.58% | +80.02% |
| P/E ratio (TTM) | 23.17 | 13.41 |
| Forward P/E | 7.54 | 9.88 |
| EPS (TTM) | $0.48 | $3.38 |
| Dividend yield | 0.27% | 1.37% |
| Annual dividend | $0.03 | $0.62 |
| Revenue (latest FY) | $1.82B | $3.62B |
| Revenue growth (YoY) | +99.07% | +28.38% |
| Net income (latest FY) | $221.47M | $980.00M |
| Gross margin | 35.38% | 38.82% |
| Operating margin | 23.79% | 34.07% |
| Net margin | 12.19% | 27.08% |
| 52-week high | $18.96 | $69.99 |
| 52-week low | $8.49 | $33.08 |
| Distance from 52-week high | -41.35% | -35.26% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +25.90% | +42.42% |
| Average volume | 13.48M | 4.02M |
| Shares outstanding | 1.17B | 414.62M |
| Employees | — | 9,348 |
| Sector | Basic Materials | Basic Materials |
| Industry | Precious Metals | Precious Metals |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- PAAS has outperformed EQX by 21.7 percentage points over the past year.
- Equinox Gold trades at a higher earnings multiple (23.2x vs 13.4x trailing P/E).
- Pan American Silver offers a meaningfully higher dividend yield (1.37% vs 0.27%).
- Pan American Silver is more profitable, keeping 27.1 cents of every revenue dollar as net income versus 12.2 cents for Equinox Gold.
- Equinox Gold grew revenue faster in its latest fiscal year (+99.07% vs +28.38%).
About Equinox Gold
EQX stock →Equinox Gold Corp. engages in the acquisition, exploration, development, and operation of mineral properties in the Americas.
Basic Materials · Precious Metals
About Pan American Silver
PAAS stock →Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of mines in Chile, Peru, Brazil, Mexico, Canada, Argentina, Bolivia, and Guatemala.
Basic Materials · Precious Metals · 9,348 employees
EQX vs PAAS FAQ
Which is bigger, Equinox Gold or Pan American Silver?
Pan American Silver (PAAS) is larger, with a market capitalization of $18.79B compared with $12.98B for Equinox Gold (EQX).
Which stock has performed better over the past year, EQX or PAAS?
PAAS returned +13.87% over the past 12 months, compared with -7.87% for EQX (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, EQX or PAAS?
PAAS has the lower trailing P/E at 13.4, versus 23.2 for EQX. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Equinox Gold or Pan American Silver?
Pan American Silver has the higher yield at 1.37%, compared with 0.27% for Equinox Gold.
Are Equinox Gold and Pan American Silver in the same industry?
Yes. Both are classified in the Precious Metals industry within the Basic Materials sector.