Agnico Eagle Mines: One Of My Top Picks For 2026

Agnico Eagle Mines: One Of My Top Picks For 2026 Summary AEM offers leveraged upside to gold in 2026 as the Fed shifts to a more accommodative stance and balance sheet policy becomes increasingly supportive of non-yielding assets like gold. Structural central bank buying and early-stage gold ETF restocking suggest a multi‐year positive demand backdrop, providing a favorable macro tailwind for gold prices and AEM. AEM is increasing growth capex into five major Canadian and Mexican projects that are expected to lift production by about 20% over the next 5-8 years. AEM sits in the second decile of the global AISC cost curve at roughly $1300 per ounce, providing low-cost, unhedged operating leverage to higher gold prices. AEM currently trades at a trough-like 1‐year forward P/CFPS multiple in line with peers, despite its historically large premium for low-risk jurisdictions and a still-strong, consolidating relative uptrend versus the S&P 500. Analyst’s Disclosure: I/we have a beneficial long position in the shares of AEM:CA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Preview: ~296 words