Pan American Silver (PAAS) vs Wheaton Precious Metals (WPM)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Wheaton Precious Metals (WPM) has outperformed Pan American Silver (PAAS) over the past year, gaining 25.9% versus a gain of 13.9%. Over five years, WPM leads with a +226.0% price change compared with +80.0% for PAAS. Wheaton Precious Metals is the larger company by market cap ($61.29 billion vs $18.79 billion), about 3.3 times the size.
On valuation, Pan American Silver trades at a lower forward P/E (9.9x vs 27.1x for Wheaton Precious Metals). Pan American Silver offers the higher dividend yield (1.37% vs 0.53%). Wheaton Precious Metals converts more of its revenue into profit, with a net margin of 63.6% versus 27.1%.
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 | PAAS | WPM |
|---|---|---|
| Share price | $45.31 | $134.96 |
| Market cap | $18.79B | $61.29B |
| 1-day change | +2.16% | +0.95% |
| YTD return | -12.55% | +14.84% |
| 1-year return | +13.87% | +25.88% |
| 5-year return | +80.02% | +225.99% |
| P/E ratio (TTM) | 13.41 | 29.92 |
| Forward P/E | 9.88 | 27.12 |
| EPS (TTM) | $3.38 | $4.51 |
| Dividend yield | 1.37% | 0.53% |
| Annual dividend | $0.62 | $0.72 |
| Revenue (latest FY) | $3.62B | $2.31B |
| Revenue growth (YoY) | +28.38% | +80.18% |
| Net income (latest FY) | $980.00M | $1.47B |
| Gross margin | 38.82% | 72.22% |
| Operating margin | 34.07% | 68.33% |
| Net margin | 27.08% | 63.58% |
| 52-week high | $69.99 | $165.76 |
| 52-week low | $33.08 | $92.57 |
| Distance from 52-week high | -35.26% | -18.58% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +42.42% | +31.75% |
| Average volume | 4.02M | 1.98M |
| Shares outstanding | 414.62M | 454.16M |
| 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
- Wheaton Precious Metals is about 3.3 times larger than Pan American Silver by market value ($61.29B vs $18.79B).
- WPM has outperformed PAAS by 12.0 percentage points over the past year.
- Wheaton Precious Metals trades at a higher earnings multiple (29.9x vs 13.4x trailing P/E).
- Wheaton Precious Metals is more profitable, keeping 63.6 cents of every revenue dollar as net income versus 27.1 cents for Pan American Silver.
- Wheaton Precious Metals grew revenue faster in its latest fiscal year (+80.18% vs +28.38%).
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
About Wheaton Precious Metals
WPM stock →Wheaton Precious Metals Corp. operates as a precious metal streaming company.
Basic Materials · Precious Metals
PAAS vs WPM FAQ
Which is bigger, Pan American Silver or Wheaton Precious Metals?
Wheaton Precious Metals (WPM) is larger, with a market capitalization of $61.29B compared with $18.79B for Pan American Silver (PAAS).
Which stock has performed better over the past year, PAAS or WPM?
WPM returned +25.88% over the past 12 months, compared with +13.87% for PAAS (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, PAAS or WPM?
PAAS has the lower trailing P/E at 13.4, versus 29.9 for WPM. 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, Pan American Silver or Wheaton Precious Metals?
Pan American Silver has the higher yield at 1.37%, compared with 0.53% for Wheaton Precious Metals.
Are Pan American Silver and Wheaton Precious Metals in the same industry?
Yes. Both are classified in the Precious Metals industry within the Basic Materials sector.