PAAS vs. RIO: Pan American Silver vs. Rio Tinto Stock Comparison

November 11, 2026

How do Pan American Silver (PAAS) and Rio Tinto (RIO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Pan American Silver (PAAS) and Rio Tinto (RIO) both belong to the Metals & Mining industry, though PAAS is classified under Silver while RIO falls under Diversified Metals & Mining.

Pan American Silver (PAAS) trades as ordinary local shares, while Rio Tinto (RIO) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Pan American Silver (PAAS) and Rio Tinto (RIO)
Profile Item	PAAS	RIO
Name	Pan American Silver Corp.	Rio Tinto plc ADR
Country/Region	Canada	United Kingdom
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Silver	Diversified Metals & Mining
Market Capitalization	16.98 billion USD	136.19 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	June 12, 1995	June 28, 1990
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

PAAS

RIO

GSPC

Pan American Silver (PAAS) vs. Rio Tinto (RIO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Pan American Silver (PAAS) and Rio Tinto (RIO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Pan American Silver (PAAS) and Rio Tinto (RIO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
Total Return (1Y)	22.43%	30.54%
Total Return (3Y, Annualized)	47.84%	16.90%
Total Return (5Y, Annualized)	11.59%	14.68%

Risk Profile

Drawdown History

PAAS

RIO

GSPC

Pan American Silver (PAAS) vs. Rio Tinto (RIO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Pan American Silver (PAAS) and Rio Tinto (RIO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
Volatility (1Y, Annualized)	58.13%	30.72%
Beta (5Y)	0.72	0.63
Max Drawdown (5Y)	-57.39%	-35.25%
Avg. Volume (3M)	4.31M	2.35M

Risk-Adjusted Performance

Risk-Return Positioning

PAAS and RIO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
Sharpe Ratio (1Y)	0.31	0.85
Sortino Ratio (1Y)	0.45	1.26

Profitability

ROE (TTM)

Pan American Silver (PAAS) at 22.39% sits in the top ROE quartile, while Rio Tinto (RIO) at 19.31% is closer to the peer norm — stronger capital efficiency for PAAS.

PAAS

Materials industry group

22.39%

Max: 52.88%
PAAS: 22.39%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

RIO

Materials industry group

19.31%

Max: 52.88%
Q3: 19.49%
RIO: 19.31%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Pan American Silver (PAAS) at 35.16% and Rio Tinto (RIO) at 19.59% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

PAAS

Materials industry group

35.16%

Max: 38.66%
PAAS: 35.16%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

RIO

Materials industry group

19.59%

Max: 38.66%
RIO: 19.59%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Pan American Silver (PAAS) at 34.29% operates in the top operating margin quartile, ahead of Rio Tinto (RIO) at 28.05%, which runs around its industry’s norm.

PAAS

Materials industry group

34.29%

Max: 66.70%
PAAS: 34.29%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

RIO

Materials industry group

28.05%

Max: 66.70%
Q3: 28.92%
RIO: 28.05%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
ROE (TTM)	22.39%	19.31%
ROA (TTM)	11.27%	8.11%
Net Margin (TTM)	35.16%	19.59%
Operating Margin (TTM)	34.29%	28.05%
Gross Margin (TTM)	55.17%	29.75%

Growth

Revenue Growth

Both Pan American Silver (PAAS) at 28.38% and Rio Tinto (RIO) at 7.42% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Pan American Silver (PAAS) at 725.81% clears its industry range for EPS growth, a much stronger earnings trajectory than Rio Tinto (RIO) at -13.97%, which is closer to a typical peer reading.

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
Revenue Growth (YoY)	28.38%	7.42%
Revenue Growth (3Y CAGR)	34.28%	1.24%
EPS Growth (YoY)	725.81%	-13.97%
EPS Growth (3Y CAGR)	--	-7.23%

Financial Strength

Current Ratio (MRQ)

Pan American Silver (PAAS) at 2.72 keeps current ratio within its industry’s typical mid-range, while Rio Tinto (RIO) at 1.42 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for RIO.

PAAS

Materials industry group

2.72

Max: 5.96
Q3: 3.30
PAAS: 2.72
Median: 2.24
Q1: 1.45
Min: 0.16

RIO

Materials industry group

1.42

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
RIO: 1.42
Min: 0.16

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Pan American Silver (PAAS) at 0.11 keeps leverage in the lower industry quartile, while Rio Tinto (RIO) at 0.32 runs a more typical debt-to-equity mix.

PAAS

Materials industry group

0.11

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
PAAS: 0.11
Min: 0.00

RIO

Materials industry group

0.32

Max: 1.98
Q3: 0.89
Median: 0.47
RIO: 0.32
Q1: 0.13
Min: 0.00

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
Current Ratio (MRQ)	2.72	1.42
Debt / Equity (MRQ)	0.11	0.32
Net Debt / EBITDA	-0.39	0.58

Dividends

Dividend Yield (TTM)

Pan American Silver (PAAS) at 1.69% pays an industry-typical yield; Rio Tinto (RIO) at 5.59% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

PAAS

Materials industry group

1.69%

Max: 4.52%
Q3: 1.85%
PAAS: 1.69%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

RIO

Materials industry group

5.59%

RIO: 5.59%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Pan American Silver (PAAS) at 18.00% pays out a band-typical share of earnings, while Rio Tinto (RIO) at 54.46% distributes more than its industry norm — less retained, thinner cover.

PAAS

Materials industry group

18.00%

Max: 83.62%
Q3: 41.37%
PAAS: 18.00%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

RIO

Materials industry group

54.46%

Max: 83.62%
RIO: 54.46%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
Dividend Yield (TTM)	1.69%	5.59%
Dividend Payout Ratio (TTM)	18.00%	54.46%

Valuation

P/E Ratio (TTM)

Both Pan American Silver (PAAS) at 10.83 and Rio Tinto (RIO) at 11.35 sit in the cheaper earnings-multiple quartile for P/E ratio, with the market paying less for a dollar of trailing earnings than it pays for typical peers.

PAAS

Materials industry group

10.83

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
PAAS: 10.83
Min: 3.93

RIO

Materials industry group

11.35

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
RIO: 11.35
Min: 3.93

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Pan American Silver (PAAS) at 3.80 and Rio Tinto (RIO) at 2.20 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

PAAS

Materials industry group

3.80

Max: 9.62
Q3: 4.34
PAAS: 3.80
Median: 1.87
Q1: 0.73
Min: 0.00

RIO

Materials industry group

2.20

Max: 9.62
Q3: 4.34
RIO: 2.20
Median: 1.87
Q1: 0.73
Min: 0.00

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Pan American Silver (PAAS) at 2.29 and Rio Tinto (RIO) at 2.08 are valued close to their industries’ norm against book — neither stands out from peers.

PAAS

Materials industry group

2.29

Max: 6.59
Q3: 3.55
PAAS: 2.29
Median: 2.08
Q1: 1.26
Min: -0.17

RIO

Materials industry group

2.08

Max: 6.59
Q3: 3.55
Median: 2.08
RIO: 2.08
Q1: 1.26
Min: -0.17

Pan American Silver (PAAS) vs. Rio Tinto (RIO): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Pan American Silver (PAAS) and Rio Tinto (RIO)
Metric	PAAS	RIO
P/E Ratio (TTM)	10.83	11.35
P/S Ratio (TTM)	3.80	2.20
P/B Ratio (MRQ)	2.29	2.08
Free Cash Flow Yield (TTM)	8.01%	2.64%