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AEM vs WPM
Which Stock Would AI Choose? Agnico Eagle Mines (AEM) vs. Wheaton Precious Metals (WPM) Stock Comparison
Key Takeaways
- AEM is a senior gold producer, while WPM is a precious metals streaming and royalty company — two distinct ways to gain exposure to gold and silver.
- Both stocks have rallied sharply on record precious metals prices, but their business models create different risk and margin profiles.
- AEM generated record free cash flow and expanded its mineral reserves, supported by a stable, low-cost production outlook.
- WPM posted record revenue, earnings, and operating cash flow and completed the largest streaming transaction in its history.
- WPM offers a diversified, royalty-style portfolio across many mines, while AEM offers concentrated operational leverage to gold prices.
- Relative positioning depends on whether an investor prefers direct mining operations or a capital-light streaming structure.
Introduction
Investors seeking exposure to gold and silver often weigh direct producers against royalty and streaming companies. AEM (Agnico Eagle Mines) mines and processes gold across a portfolio of operating assets, while WPM (Wheaton Precious Metals) finances mines in exchange for the right to buy future production at a discounted price. This stock comparison is relevant to traders and long-term investors evaluating relative performance, market positioning, and how each model responds to elevated precious metals prices. Although both names benefit from similar commodity tailwinds, their growth drivers, risk factors, and capital structures differ meaningfully, making a side-by-side review useful for portfolio construction.
AEM Overview and Recent Performance
Agnico Eagle Mines is one of the world's largest senior gold producers, operating mines primarily in Canada, Mexico, and other established jurisdictions. Recent market activity has favored the stock, driven by historically strong gold prices and solid operational execution. In its latest reporting period, AEM reported record financial results, including full-year production of approximately 3.45 million ounces of gold and record free cash flow. The company also expanded its mineral reserves to a record level and raised its quarterly dividend by 12.5%.
Sentiment has been supported by AEM's peer-leading cost position and a growing pipeline of development projects, including Detour Lake, Canadian Malartic, and Hope Bay. Management has signaled a path to increase annual gold production by 20% to 30% over the next decade. At the same time, analysts have noted that heavier capital investment to fund this growth could modestly reduce near-term free cash flow and raise execution risk. Overall, AEM's relative performance reflects strong leverage to gold prices combined with a disciplined balance sheet and shareholder-return program.
WPM Overview and Recent Performance
Wheaton Precious Metals is the world's largest precious metals streaming company. Rather than operating mines directly, WPM provides upfront financing to mining partners in exchange for the right to purchase a portion of future production at a low fixed cost, generating high-margin cash flow. Recent market activity has been similarly strong, with WPM posting record annual revenue of roughly $2.3 billion, record net earnings, and record operating cash flow of about $1.9 billion, while production exceeded the top end of guidance.
A defining recent development was WPM's announcement of a $4.3 billion silver streaming agreement tied to the Antamina mine in Peru, described as the largest streaming transaction in the company's history. The company also raised its dividend by 18% and outlined a target of growing production roughly 50% by 2030. These catalysts have reinforced market positioning, though the Antamina deal temporarily increases leverage, with management guiding toward a return to a net cash position within about a year. WPM's diversified portfolio and lower-cost structure have kept investor sentiment broadly positive.
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Head-to-Head Comparison
The core contrast between these two stocks is business model. AEM is an operator, meaning its margins and cash flow depend directly on mine costs, production volumes, and all-in sustaining costs (AISC — a per-ounce measure of the full cost of mining). WPM is a financier, purchasing metal at a predetermined low price and selling it at market rates, which historically produces wider margins and lower direct operating risk but less direct operational control.
On growth drivers, AEM's upside hinges on executing a deep pipeline of expansion projects and keeping costs disciplined amid inflation. WPM's growth is driven by new streaming agreements and the ramp-up of existing assets such as Salobo, Antamina, and Goose. Recent momentum has been strong for both, but WPM's diversification across gold, silver, and other metals reduces single-asset concentration risk relative to AEM's mine-by-mine execution exposure.
Risk factors also differ. AEM faces jurisdictional, geological, and capital-expenditure execution risks. WPM faces counterparty and permitting risk tied to its partners, along with elevated near-term debt following the Antamina transaction. In terms of sector exposure, both are precious metals plays, yet WPM carries additional silver and base-metal byproduct exposure that can temper or amplify moves in any single metal.
Tickeron AI Verdict
Based on observable trend consistency, stability, catalysts, and relative positioning, Tickeron's AI would likely view both AEM and WPM as being in constructive uptrends supported by elevated precious metals prices. A trend-focused model would probably lean toward WPM on the strength of its record cash flow, larger dividend increase, and a transformational growth catalyst, while recognizing that its recent leverage increase adds near-term variability. Conversely, a stability-oriented model might favor AEM for its low-cost, reserve-rich production base and net cash position. The AI's preference would therefore depend on the strategy's timeframe and risk tolerance, with WPM offering higher perceived growth momentum and AEM offering steadier operational fundamentals.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is AEM is a Buy and WPM is a StrongBuy.
AEM's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for AEM turned positive on October 16, 2026. Looking at past instances where AEM's MACD turned positive, the stock continued to rise in 44 of 55 cases over the following month. The odds of a continued upward trend are 80%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 15, 2026. You may want to consider a long position or call options on AEM as a result. In 57 of 73 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 78%.
The 50-day moving average for AEM moved above the 200-day moving average on October 06, 2026. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a +7.07% 3-day Advance, the price is estimated to grow further. Considering data from situations where AEM advanced for three days, in 252 of 325 cases, the price rose further within the following month. The odds of a continued upward trend are 78%.
AEM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
AEM moved below its 50-day moving average on September 30, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for AEM crossed bearishly below the 50-day moving average on October 06, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 11 of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 65%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AEM declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 70%.
The Aroon Indicator for AEM entered a downward trend on October 21, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 39 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 63, placing this stock slightly better than average.
The Tickeron SMR rating for this company is 43 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 47 (best 1 - 100 worst), indicating steady price growth. AEM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 88 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 100 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.317) is normal, around the industry mean (2.031). P/E Ratio (15.986) is within average values for comparable stocks, (-16.536). AEM's Projected Growth (PEG Ratio) (30.116) is very high in comparison to the industry average of (2.614). Dividend Yield (0.010) settles around the average of (0.341) among similar stocks. P/S Ratio (6.766) is also within normal values, averaging (7.321).
WPM saw its Stochastic Oscillator recovers from the overbought zone
The Stochastic Oscillator for WPM moved out of overbought territory on October 14, 2026. This could be a bearish sign for the stock and investors may want to consider selling or taking a defensive position. A.I.dvisor looked at 69 similar instances where the indicator exited the overbought zone. In 46 of the 69 cases the stock moved lower. This puts the odds of a downward move at 67%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 14, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on WPM as a result. In 50 of 80 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 62%.
WPM moved below its 50-day moving average on September 28, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for WPM crossed bearishly below the 50-day moving average on October 05, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 6 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 43%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WPM declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 63%.
The Aroon Indicator for WPM entered a downward trend on October 21, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
Following a +3.55% 3-day Advance, the price is estimated to grow further. Considering data from situations where WPM advanced for three days, in 249 of 335 cases, the price rose further within the following month. The odds of a continued upward trend are 74%.
WPM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 30 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 63, placing this stock better than average.
The Tickeron SMR rating for this company is 41 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 51 (best 1 - 100 worst), indicating steady price growth. WPM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 78 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.194) is normal, around the industry mean (2.031). P/E Ratio (29.267) is within average values for comparable stocks, (-16.536). Projected Growth (PEG Ratio) (0.400) is also within normal values, averaging (2.614). Dividend Yield (0.006) settles around the average of (0.341) among similar stocks. WPM's P/S Ratio (21.053) is slightly higher than the industry average of (7.321).
The Tickeron PE Growth Rating for this company is 89 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
AEM | WPM | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 79 | 61 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 100 Overvalued | 78 Overvalued | |
PROFIT vs RISK RATING 1..100 | 39 | 30 | |
SMR RATING 1..100 | 43 | 41 | |
PRICE GROWTH RATING 1..100 | 47 | 51 | |
P/E GROWTH RATING 1..100 | 88 | 89 | |
SEASONALITY SCORE 1..100 | n/a | n/a |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
WPM's Valuation (78) in the Precious Metals industry is in the same range as AEM (100) in the null industry. This means that WPM’s stock grew similarly to AEM’s over the last 12 months.
WPM's Profit vs Risk Rating (30) in the Precious Metals industry is in the same range as AEM (39) in the null industry. This means that WPM’s stock grew similarly to AEM’s over the last 12 months.
WPM's SMR Rating (41) in the Precious Metals industry is in the same range as AEM (43) in the null industry. This means that WPM’s stock grew similarly to AEM’s over the last 12 months.
AEM's Price Growth Rating (47) in the null industry is in the same range as WPM (51) in the Precious Metals industry. This means that AEM’s stock grew similarly to WPM’s over the last 12 months.
AEM's P/E Growth Rating (88) in the null industry is in the same range as WPM (89) in the Precious Metals industry. This means that AEM’s stock grew similarly to WPM’s over the last 12 months.
| AEM | WPM | |
|---|---|---|
| RSI ODDS (%) | N/A | N/A |
| Stochastic ODDS (%) | 1 day ago 64% | 1 day ago 67% |
| Momentum ODDS (%) | 1 day ago 78% | 1 day ago 63% |
| MACD ODDS (%) | 1 day ago 80% | N/A |
| TrendWeek ODDS (%) | 1 day ago 75% | 1 day ago 73% |
| TrendMonth ODDS (%) | 1 day ago 61% | 1 day ago 63% |
| Advances ODDS (%) | 6 days ago 78% | 6 days ago 74% |
| Declines ODDS (%) | 2 days ago 70% | 2 days ago 63% |
| BollingerBands ODDS (%) | 1 day ago 59% | 1 day ago 80% |
| Aroon ODDS (%) | 1 day ago 59% | 1 day ago 61% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
AEM’s FA Score shows that 0 FA rating(s) are green while WPM’s FA Score has 1 green FA rating(s).
- AEM’s FA Score: 0 green, 5 red.
- WPM’s FA Score: 1 green, 4 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
AEM’s TA Score shows that 5 TA indicator(s) are bullish while WPM’s TA Score has 2 bullish TA indicator(s).
- AEM’s TA Score: 5 bullish, 5 bearish.
- WPM’s TA Score: 2 bullish, 6 bearish.
Price Growth
AEM (@Precious Metals) experienced а +5.85% price change this week, while WPM (@Precious Metals) price change was +2.00% for the same time period.
The average weekly price growth across all stocks in the @Precious Metals industry was +3.76%. For the same industry, the average monthly price growth was -12.53%, and the average quarterly price growth was -10.74%.
Reported Earning Dates
AEM is expected to report earnings on Oct 28, 2026.
WPM is expected to report earnings on Nov 05, 2026.
Industries' Descriptions
@Precious Metals (+3.76% weekly)The Precious Metals industry is engaged in exploring/mining metals that are considered to be rare and/or have a high economic value. Popular precious metals include gold, platinum and silver - all three of which are largely used in jewelry, art and coinage alongwith having some industrial uses as well. Precious metals used in industrial processes include iridium, (used in specialty alloys), and palladium ( used in electronics and chemical applications). Historically, precious metals have traded at much higher prices than common industrial metals. Newmont Goldcorp Corp, Barrick Gold Corp and Freeport-McMoRan are few of the major precious metals producing companies in the U.S.
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AEM and
Correlation & Price change
A.I.dvisor indicates that over the last year, AEM has been closely correlated with WPM. These tickers have moved in lockstep 93% of the time. This A.I.-generated data suggests there is a high statistical probability that if AEM jumps, then WPM could also see price increases.
WPM and
Correlation & Price change
A.I.dvisor indicates that over the last year, WPM has been closely correlated with AEM. These tickers have moved in lockstep 93% of the time. This A.I.-generated data suggests there is a high statistical probability that if WPM jumps, then AEM could also see price increases.
| Ticker / NAME | Correlation To WPM | 1D Price Change % | ||
|---|---|---|---|---|
| WPM | 100% | +0.72% | ||
| AEM - WPM | 93% Closely correlated | +0.60% | ||
| FNV - WPM | 90% Closely correlated | +0.98% | ||
| PAAS - WPM | 90% Closely correlated | -1.45% | ||
| KGC - WPM | 90% Closely correlated | +0.76% | ||
| RGLD - WPM | 90% Closely correlated | +1.35% | ||
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