AEM - Gold Digger: Agnico Eagle Mines (SA Quant)

2024-07-05 07:00:00 ET

Summary

• Agnico Eagle Mines, the third-largest gold producer in the world, has delivered record operating margins and free cash flows in the past two quarters amid the gold price surge.
• The stock is up +34% in the past year and +24% YTD, outperforming the materials sector, the price of gold, and rival industry titans.
• The stock’s consensus forecast is solid gold: EPS is projected to grow +46% in FY24; excellent profitability, growth, and momentum drive a Strong Buy Quant Rating.

Best Gold Stock

Gold has rallied, as market volatility, rising interest rates, and uncertainty around crypto scandals have prompted some investors to seek investments that offer hedges. The U.S. dollar lost some purchasing power amid geopolitical and macro headwinds, yet, “ the dollar remains king. ” But, for investors looking for defensive investments amid global uncertainty, diversification that may benefit from risk-off market-driven sentiment, gold has been a precious asset for centuries and continues to showcase strong performance over the last two years. Quant strong buy-rated Agnico Eagle Mines Limited (AEM) offers a total return that is outperforming the S&P 500 ( SPY ), SPDR® Gold Shares ETF ( GLD ), and VanEck Vectors Gold Miners ETF ( GDX )’s total returns....

For further details see: