Agnico-Eagle Mines (AEM.TO)

One the world's largest gold producers (Canada's largest). Pure play on gold (99% of production). Has paid dividend since 1983 - grown at 17% compounding rate. 12 operating mines across the globe. Not facing geopolitical risk with strong management team. Dividend at ~4% is very safe. Good name to own if bullish on gold. 

Good place if bullish on gold. 

Well run company with strong management team. Gold stocks lagging gold prices. Many large banks buying gold to hedge against inflation. Would wait for further weakness in market before buying gold stocks. 

Gold moves with interest rates and the US dollar, as well as with money printing. Like in 2008, it took a while (to 2010) before gold started to really react to all the stimulus that was put in place during the financial crisis. Now, the same thing may be happening with post-covid stimulus making its way through to gold. The prospects of lower interest rates also helps gold, and we have seen news of China buying as well as central banks buying globally. We cannot time how long it will continue but gold does move on sentiment, and positive sentiment could certainly continue longer. In a rally, we prefer stocks over bullion. Bullion can work better in a 'crisis' but we do not think we are setting up for that. AEM, KRR and FNV look good to us.
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Likes company and believes company is well run. Current valuation is high - would recommend waiting to buy on weakness. Excellent management team. Control on costs has been very strong. Good for long term investment. 

A top senior gold producer, owning Canada's 2 biggest mines. A core holding and he expects dividend growth as the price of gold climbs. $75 is an easy price target. $80-90 is possible if gold hits $2,400. Inflation is fading, which also helps this sector. Excellent margins and solid balance sheet.

That's the problem with the stalwart stocks, unlike a small company. AEM'S 5-year chart beats gold by 12%. The gold outlook is healthy. If AEM leads to the downside, a problem in the commodity will emerge later.

He prefers industrial metals and other commodities. He wonders if gold is still the safe haven that it used to be. Chart's meandering sideways. Price slightly below 200-day and 200-week MA. Decent yield of 3.75%, seems steady, may move higher. He'd prefer the traditional dividend stocks like telecom, banks, pipelines.

In line with peers over the last 18-24 months, not doing much. Symptom of sentiment. Top-tier name, good management, excellent balance sheet, good ROC, attractive yield. But that's not enough until gold breaks, and holds above, $2000 USD/oz.

Need to check fundamentals. Unsure on direction of chart. Used to hedge pricing, but not anymore. 

Reported earnings last night, which beat, though shares are down a bit, but an opportunity. Are well-managed who manage costs (rarely dilute shares with an offering). Also, their geographic footprint is fine, especially after buying Kirkland Lake earlier this years. Mines are in Finland, Australia, Mexico and across Canada, all safe geographies. Diversified portfolio.

Decline from 2020 into a big consolidation. Probably not too much lower. Since 2022, it's formed a reverse head and shoulders -- you have a low point, but the low points on either side are higher. Not a bad trading stock between $60-75, so this is the time to buy. 

Trading means smaller amounts, and you can add if it goes above $74-75. Overriding issue with commodity price, be careful. $60 exit strategy. Short-side upside to $71-72, don't expect more until visibility on buyers coming in.

Disappointing that the USD has weakened, but gold stocks have not risen. Doesn't know when. Gold is out of favour. Cryptos has stolen some of its power. He got out of AEM and owns B2Gold now.

One of the better companies in the space. He doesn't own them because they're not good businesses over the long term. They don't beat cost of capital regularly, held hostage to commodity price. Better to own a gold ETF.