5 Best Long-Term Stocks to Buy Now

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In this article, we will be taking a look at the 5 best long-term stocks to buy now. To see some more stocks in this list, click 10 Best Long-Term Stocks to Buy Now.

5. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Holders: 38

Share price as of August 8: $43.46

Agnico Eagle Mines Limited (NYSE:AEM) is a materials company that explores and produces mineral properties in Canada, Mexico, and Finland. The company operates through its Northern Business and Southern Business segments. The company merged with Kirkland Lake Gold this February.

In August, National Bank’s Mike Parkin reiterated an Outperform rating on Agnico Eagle Mines Limited (NYSE:AEM) shares, alongside placing a $57.5 price target on the stock.

Agnico Eagle Mines Limited (NYSE:AEM) is currently the third-largest gold producer in the world, the largest of its kind in Canada, and a reliable long-term stock pick due to several factors. 2022 production expectations include 3.2 million to 3.4 million ounces from a mineral reserve base. Agnico Eagle Mines Limited (NYSE:AEM) also expects $900 million in synergies over the next five years, a figure that will rise to $2 billion in the next 10 years.

Out of 912 hedge funds, 38 funds were long Agnico Eagle Mines Limited (NYSE:AEM) in the first quarter. Their total stake value was $1.6 billion.

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