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Opinions Hap (Robert) Sneddon FCSI
Agnico-Eagle MinesAEM.TOTOP PICKDec 28, 2016
Stock price when the opinion was issued
As of Aug 24, 2026. Market Open.
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Premium contentCashflow machine. $3B or so in cash on the balance sheet. Down 34% from peak (including $30 jump from yesterday). Largest and best gold miner in Canada. Low-risk jurisdictions. Lots of growth plans beyond 2030 to increase production, much of it by expanding existing mines (means lower risk). Very conservative management. Yield is 1.08%.
(Analysts’ price target is $225.15)
Rebecca TeltscherPremium contentHolding gold should be part of every portfolio and AEM is an outstanding low-cost producer. Recently reported earnings showed an all time high free cash flow which is allowing cash reserves to grow while debt is retired and shares bought back. It trades at 12x earnings, 2.6x book and supports a solid 22% ROE. We recommend setting a stop-loss at $170, looking to achieve $250 -- upside potential of 18%. Yield 1.1%
(Analysts’ price target is $314.12)It's the best gold miner in the world. He had a large holding, since trimmed. Buy at current levels. Gold is insurance, good to hold if the world goes to hell in a handbasket.
Lyle SteinGold is now trading pretty soberly on price to NAV. If you believe that the USD is eventually going to put in a high here and gold will start to assert itself (and that's the better view), then you can buy gold stocks here. Gold stocks can be fickle. Upcoming quarter may see margins pinched a bit due to higher costs, but that's already reflected in the price.
Very high-quality company. Hard for him to understand why any serious investor in Canada wouldn't own it. Reasonable valuation. Absolutely superlative company. Generates a whole bunch of cash. Five years of development growth already within the company. 40-year track record of operational excellence and superb capital allocation.
Would absolutely put $$ in today (doesn't mean it won't be cheaper a year from now, but it definitely will be higher 5 years hence). Yield is 1.07%.
Rick RuleHe likes materials, but pared back on gold last March. All materials moved up and are now consolidating. AEM went parabolic in early 2026, so no surprise it's pulled back, and the chart is now on the historic trendline. It's an okay play if you're patient. Maybe wait for it to bounce off this trendline. He expect gold to move up in a few months.
Biggest and best gold producer in Canada. Very low political risk. Loves its recent acquisitions. Pullback is buyable. Gold price is cooling off after meteoric rise last year, but bull run is not over.
Brian MaddenParabolic increase in January, things got extended. He reduced then. Gold bull markets advance in stages, with corrections lasting ~3-5 months. We're now 3-4 months into that. He's been rebuilding. Next leg should be a strong leg higher.
Long-term investors should just buy and hold.
David BurrowsA dividend pick. Dividend are one of the best, easiest ways to hedge against inflation. This is a dividend grower, increasing each year by nearly 202% annually over the past 5 years. The total return over 3 years is 230%.
Kevin Simpson
This is the best of the senior producers. It has a fantastic balance sheet, and really good assets. Has held up well compared to other names. Overall, the sector is in a longer-term bottoming process. $50 became an interesting place for buyers. His one year target is around $68. January and February are very supportive of gold prices, and in February you want to take some off the table as it gets weak from March onwards. Believes that bullion overall is making a significant longer-term low here, and producers always reflect the bullish/bearish moves before the underlying commodity, and we are seeing that now. Risk/reward here is really good. Dividend yield of 0.99%. (Analysts’ price target is $71.25.)