5 Best Mineral Stocks To Buy Now

3. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Holders: 31

Agnico Eagle Mines Limited (NYSE:AEM) is headquartered in Toronto, Canada, and the company is engaged in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company primarily deals in gold, silver, zinc, and copper. On October 26, Agnico Eagle Mines Limited (NYSE:AEM) declared a quarterly dividend of $0.40 per share, in line with previous. The dividend is payable on December 15, to shareholders of record on December 1. The company’s dividend yield on November 1 came in at 3.50%. 

On October 17, Barclays analyst Matthew Murphy raised the price target on Agnico Eagle Mines Limited (NYSE:AEM) to $63 from $62 and kept an Overweight rating on the shares. The analyst prefers gold equities over base metal equities as global growth softens. 

According to Insider Monkey’s data, 31 hedge funds were long Agnico Eagle Mines Limited (NYSE:AEM) at the end of June 2022, compared to 38 funds in the prior quarter. Rajiv Jain’s GQG Partners is the leading position holder in the company, with 17.5 million shares worth $798.5 million. 

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