AG vs ATR: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
AG and ATR are similarly sized, but AG trades noticeably cheaper on forward earnings (16.49x vs 20.04x): the market is paying up for ATR's profile and pricing AG more conservatively, or for faster growth. Which you prefer comes down to the drivers you believe, and whether adding either over-concentrates what you already own.
AG vs ATR: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | AG | ATR | What it tells you |
|---|---|---|---|
| Market cap | $7.89B | $7.92B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 16.49 | 20.04 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 22.85 | 22.47 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 2.18 | 0.34 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 27% of range | 49% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 2.66 | 3.01 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: AG is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how AG and ATR affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. AG and ATR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined AG and ATR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does First Majestic Silver Corp (AG) do?
First Majestic Silver Corp. (NYSE: AG) is a precious-metals producer that operates four underground mines in Mexico: San Dimas in Durango, Santa Elena in Sonora, La Encantada in Coahuila, and Cerro Los Gatos in Chihuahua. The company mines silver and gold as its primary products, along with byproduct zinc, lead, and copper. In January 2025 First Majestic completed its roughly $1.05 billion all-stock acquisition of Gatos Silver, adding a 70% interest in the Los Gatos joint venture and lifting 2025 silver production to a record 15.4 million ounces, up about 84% from the prior year.
What does AptarGroup (ATR) do?
AptarGroup makes the precision dispensing and drug-delivery systems that sit on top of everyday products: nasal spray and inhaler valves for pharma, pumps and airless systems for fragrance and skincare, and dispensing and non-dispensing closures for food, beverage, personal care, and home care. The company runs three reporting segments (Pharma, Beauty, and Closures), with Pharma generating the bulk of profit thanks to long-cycle, regulated, high-margin drug-delivery contracts. Aptar serves a global customer base and positions itself around active material science and delivery precision rather than commodity packaging.
AG vs ATR: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- AG drivers: Silver and gold price leverage; Los Gatos integration and scale.
- ATR drivers: High-margin pharma drug delivery; Beauty and consumer recovery.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The single largest risk is the silver price itself: a sustained decline would compress margins far faster than the metal falls because mining costs are largely fixed. For ATR, core organic sales have been roughly flat, so headline growth has leaned on acquisitions and currency, which is lower-quality growth.
AG or ATR: which should you pick?
AG vs ATR: the full fundamentals
AG. First Majestic trades at about 23 times trailing earnings and 16.6 times forward estimates, a multiple that assumes metal prices stay high. Analysts expect about $0.93 of EPS for 2026 and $0.97 for 2027 on revenue of roughly $2.35 billion and $2.6 billion, and about $0.20 per share for the third quarter, which reports November 5. The dividend yield is negligible, so the return case rests almost entirely on the metal price, production recovery, and the outcome of the Mexican tax settlement.
ATR. At $125 Aptar trades at about 23 times trailing and 20 times forward earnings, and about 11.5 times EBITDA, a premium to commodity packagers that rests on the pharma franchise and the dividend record. Analysts see 2026 EPS roughly flat at about $5.51 before a rebound to about $6.21 in 2027, so the multiple only looks reasonable if that recovery arrives. The key tension remains paying for quality while organic growth is near flat.
Headline figures (approximate, October 2026): AG shows revenue (ttm) ~$1.64B, up ~57% year over year in the latest quarter, net income (ttm) ~$348M (profit margin ~21%), eps ~$0.70 trailing; Q2 2026 $0.21 vs ~$0.25 expected, free cash flow (ttm) ~$775M; ATR shows revenue (ttm) ~$3.93B (Q2 2026 +6% y/y), q2 2026 sales / adjusted eps ~$1.03B / $1.42 (vs $1.35 est.), margins Gross ~36%, operating ~12.5%, net ~9%, net income (ttm) ~$363M.
The bottom line: AG vs ATR
AG and ATR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined AG and ATR exposure against your real portfolio. It is not an investment adviser.
Wondering how AG or ATR fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in First Majestic Silver Corp with AI
Connect the broker you already use and ask Walnut's AI how AG fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between AG and ATR?
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First Majestic Silver Corp. AptarGroup makes the precision dispensing and drug-delivery systems that sit on top of everyday products: nasal spray and inhaler valves for pharma, pumps and airless systems for fragrance and skincare, and dispensing and non-dispensing closures for food, beverage, personal care, and home care. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is AG or ATR the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, AG or ATR?
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On forward P/E (as of October 2026), AG trades at 16.49x and ATR at 20.04x, so AG is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both AG and ATR?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of AG vs ATR?
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AG: The single largest risk is the silver price itself: a sustained decline would compress margins far faster than the metal falls because mining costs are largely fixed. Geographic concentration is severe, with essentially all production in Mexico, exposing the company to peso currency swings, mining royalty and tax changes, permitting delays, and local security or labor disruptions; a 12-day labour dispute at San Dimas in the third quarter of 2026 is a live example. The proposed tax settlement with Mexico is only a framework, and if it falls apart the arbitration resumes and the liability stays unresolved. Rising input costs (energy, labor, consumables) can erode margins even when metal prices are steady. As a smaller producer than majors like Pan American or Fresnillo, AG has less operational diversification to absorb a single mine outage. The stock has historically been highly volatile and can move on sentiment and short interest as much as on fundamentals. ATR: Core organic sales have been roughly flat, so headline growth has leaned on acquisitions and currency, which is lower-quality growth. The planned decline in emergency medicine dispensing sales (about $65 million in 2026) is a known drag on the otherwise strong pharma segment, and analysts expect third-quarter EPS of about $1.47, roughly 9% below the year-ago quarter. Beauty and closures are exposed to consumer discretionary weakness, customer destocking, and input-cost swings. The Russian subsidiary placed under temporary state administration in September 2026 adds a write-down or loss-of-control risk that Aptar has not yet sized. Net debt of about $1.2 billion is moderate. At a P/E near 23 the stock is not cheap for a low-single-digit organic grower, and currency translation adds volatility given the company's large international footprint.
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Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell AG or ATR; figures are approximate and dated (as of October 2026). Verify current data before investing.