1. Agnico Eagle Mines Limited (NYSE:AEM)
With a net income margin of 39.46% and upside potential of 56.20%, Agnico Eagle Mines Limited (NYSE:AEM) ranks among the best extremely profitable stocks to buy according to Wall Street analysts. The company reported net income of $4.46 billion for the recently completed fiscal year (FY25).
Agnico Eagle Mines Limited (NYSE:AEM) is carrying that earnings momentum into 2026.
In the first quarter of 2026, Agnico Eagle Mines Limited (NYSE:AEM) produced 825,109 payable gold ounces at all-in sustaining costs of $1,483 per ounce, while growing its cash balance by $246 million to $3,112 million, leaving the company with a net cash position of $2,915 million.
Agnico Eagle Mines Limited (NYSE:AEM) is the world’s second-largest gold miner by production.
In addition to strong operational results, Agnico Eagle Mines Limited (NYSE:AEM) is gaining investor attention by making major capital commitments in Canada’s mining sector.
On May 19, 2026, Reuters reported that Agnico Eagle Mines Limited (NYSE:AEM) will begin redevelopment of the Hope Bay Mine in Nunavut, Canada’s remote Arctic territory. The company plans to invest $2.4 billion in the project, which carries potential annual gold production of roughly 400,000 ounces. The redevelopment will receive C$25 million ($18.1 million) in federal funding toward a wind turbine plant construction to power the mine. The project is expected to support close to 2,000 jobs for indigenous groups in the region and boost Canada’s exports by $1.89 billion.
Tim Hodgson, Minister of Energy and Natural Resources, also announced a knowledge-transfer agreement between Agnico Eagle Mines Limited (NYSE:AEM) and Canada’s Department of National Defense on delivering large infrastructure projects in the North, tied to the government’s Arctic sovereignty strategy.
That update followed a separate commitment announced on May 13, 2026, when Agnico Eagle Mines Limited (NYSE:AEM) said it would invest $10.2 billion in Ontario by 2030 across exploration, development, and operations. Within that figure, the company reserved an additional $1.46 billion to expand its Detour Lake mine, Canada’s largest gold producer, extending its life until 2054, and to redevelop the Upper Beaver gold-copper mine. Those investments are expected to create up to 1,600 jobs and add $3.65 billion to Ontario’s GDP.
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.
While we acknowledge the potential of AEM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AEM and that has 100x upside potential, check out our report about the cheapest AI stock.
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