12 Best Gold Stocks to Invest In According to Billionaires

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5. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Billionaire Investors: 11

Number of Hedge Fund Holders: 53

A prominent gold mining company, Agnico Eagle Mines Limited (NYSE:AEM) operates exploration and production projects in Canada, Australia, Finland, Mexico, and other countries. The company also looks for copper, zinc, and silver in addition to gold. With total billionaire assets valued at $250.3 million as of Q1 2025, Agnico Eagle Mines Limited (NYSE:AEM) is one of the best gold stocks.

Agnico Eagle Mines Limited (NYSE:AEM) posted record financial performance for the quarter ending March 31, 2025, including $2.5 billion in sales and $770 million in adjusted earnings, or $1.53 per share. The company made $1.6 billion in adjusted EBITDA from the production of 874,000 ounces of gold at total cash expenses of $903/oz. Despite more than $500 million in tax-related outflows, free cash flow was $594 million. The company returned $250 million to stockholders, or 42% of its free cash flow, and concluded the quarter with zero net debt, down from $1.5 billion at the beginning of 2024.

Agnico Eagle Mines Limited (NYSE:AEM) maintained solid profitability through steady production delivery and efficient capital management, despite high industry-wide expenses. The route to producing one million ounces per year at Detour Lake and the continuous growth at Canadian Malartic were strategic highlights. Long-term production is also anticipated from the Upper Beaver and Hope Bay projects, while the San Nicolas copper project in Mexico is moving closer to a feasibility study by the end of 2025.

Strong exploration findings at Hope Bay, Detour Lake, and Canadian Malartic were also announced by Agnico Eagle Mines Limited (NYSE:AEM), indicating support for future reserve expansion. If gold prices stay high, the company plans to keep its 2025 cost guidance, aiming for a net cash position above $1 billion, and dramatically increasing share buybacks. In 2026–2027, important development decisions for a number of projects are expected.

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