10 Best Canadian Stocks to Invest In According to Billionaires

8. Agnico Eagle Mines Limited (NYSE:AEM)

Dollar Value of Billionaire Holdings: $1.94 million

Number of Billionaire Investors: 18

Agnico Eagle Mines Limited (NYSE:AEM) is one of the best Canadian stocks to invest in according to billionaires. On May 4, Agnico Eagle Mines Limited received TSX approval to renew its normal course issuer bid/NCIB, allowing the company to repurchase up to 25,024,469 common shares or a maximum aggregate purchase price of $2 billion. The program is set to run from May 6, 2026, through May 5, 2027. All shares acquired under this initiative will be cancelled, with repurchases to be funded by existing cash resources.

Management will determine the timing and volume of open-market purchases based on market conditions, with daily TSX buybacks limited to 264,928 shares. To ensure continuity, Agnico Eagle Mines Limited (NYSE:AEM) established an automatic share purchase plan, effective May 10, which enables the company to continue repurchases during restricted trading periods, such as internal black-out windows.

This renewal serves as a key component of Agnico Eagle’s broader capital allocation strategy alongside its dividend program. Under the previous NCIB, which concluded on May 3, the company successfully purchased 4,472,799 shares at a weighted-average price of approximately $162.83 per share.

Agnico Eagle Mines Limited (NYSE:AEM) is a senior Canadian gold mining company and the world’s second-largest gold producer, focused on exploring, developing, and operating mines. Founded in 1957, it operates high-quality, low-risk assets primarily in Canada, Australia, Finland, and Mexico, with about 85% of its production coming from Canada.