Agnico-Eagle Mines (AEM.TO)

(A Top Pick April 23/12. Down 11.43%.) Sold his holdings in late 2012 at over $50 and bought some back this summer.

He would wait for a recovery at this point. They have done the right thing in the last couple of years. Good production growth over the next couple of years. Comfortable with the name. Any acquisition will be accretive. Low political risk. Happy to hold on to it. They could cut the dividend depending on gold prices. Would be surprised if they raised it.

(Market Call Minute.) Doesn’t like the gold sector. Thinks gold is going to $1000.

(A Top Pick September 7/12. Down 32.8%.) He loves this company. Have been doing everything they have to do to get us through the tunnel. Have $700 million in the bank. To him, the miners are about which ones can deliver production and growth, reduction in costs over the next 3-4 years.

(A Top Pick July 13/12. Down 21.76%.) This is one of the better firms out there. Have been making acquisitions for future production down the line. Will have a lot of leverage when this turns around. Good production spectrum, great levels to the price of gold and a lot of production the can come in very quickly.

Going to grow its production 20% over the next couple of years. Has new production coming on in their Finland mine, a part of Goldex (GDX-X) which is coming back on stream and a mine in Mexico. 2.77% dividend.

Likes this one along with Yamana (YRI-T) along with Kinross (K-T). Feels they are looking around for acquisitions of cheap gold mining companies.

(Market Call Minute.) Diversified geographically. Has come off quite a bit. At the mercy of gold prices.

Geography is North/South. They are picking up a lot of companies. They continue to add, taking advantage of cheap prices. Their cash keeps building. In the next run up this is going to perform very well.

Gold companies have really gotten beaten with the pullback in the price of gold. Thinks there are some significant opportunities opening up. Even at this price there are more compelling valuations in the gold area. Have a number of good projects under development. Production profile, although not the fastest, is growing. (See Top Picks.)

(A Top Pick April 27/12. Down 15.95%.) Loves this company and is still buying. Announced they are starting up LaRonde and Goldex again, much earlier than they had thought, which indicates management does not think that gold is going to stay at this low level. Have $230 million in the bank.

One of the lowest cost producers in gold mines and have mines in political stable countries. Will increase production 20% over the next couple of years. Raised its dividend 10% last year. Yield of 2.71%. Even if gold stays at its present price, this is still a very profitable company.

(A Top Pick April 27/12. Up 10.33%.) They are growing the company and lowering the cost of production.

He looks for what is the production profile, given the projects over the next few years. Over the next couple of years people don’t expect production to advance as in some of the other names. All gold companies have been hit. He prefers G-T or ABX-T

Very good quality company but not a cheap stock. He would like to see it lower.