5 Best Canadian Gold Stocks To Buy Right Now

2. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Holders: 29

With gold reserves stand at 24.1 million ounces, Agnico Eagle Mines Limited (NYSE:AEM) is one of the best Canadian gold stocks to buy right now. Operating as a gold producer, the company has operations in Canada, Finland and Mexico, as well as exploration projects in the United States.

On October 6, RBC Capital analyst Josh Wolfson upgraded Agnico Eagle Mines Limited (NYSE:AEM) to Outperform from Sector Perform with a price target of $63 on its shares.

As of the second quarter of 2021, 29 hedge funds held stakes in Agnico Eagle Mines Limited (NYSE:AEM) worth $235 million, up from 28 funds in the preceding quarter that held stakes in the company worth approximately $247 million.

According to the Q3 earnings report, Agnico Eagle Mines Limited (NYSE:AEM) had an EPS of $0.60, in-line with the market estimates. The company also posted revenues of $974.07 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Investment Management is a leading shareholder in Agnico Eagle Mines Limited (NYSE:AEM) with 5.24 million shares worth more than $272 million at the end of September quarter.