CA - Agnico Eagle Mines: After 70% Return It Is Time To Adjust Your Expectations

2024-05-17 11:49:07 ET

Summary

• Agnico Eagle Mines Limited has delivered a total return of over 70% in less than two years, outperforming the S&P 500 and gold ETFs.
• If the currently supportive environment persists, I would expect a notable improvement in operating margin to around 30%.
• The current share price, however, already takes that into account and near-term upside is limited.

Recent months have shown why having exposure to gold as an addition to an all-equity portfolio is highly beneficial. Direct exposure to precious metals is suitable for long-term investors who don't want to be bothered with timing issues that investing in gold miners is often associated with....

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