5 Best TSX Stocks To Buy Now

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In this article, we discuss 5 best TSX stocks to buy now. If you want to see more stocks in this selection, check out 10 Best TSX Stocks To Buy Now

5. Agnico Eagle Mines Limited (TSX:AEM.TO)

Number of Hedge Fund Holders: 31 

Agnico Eagle Mines Limited (TSX:AEM.TO) is a Toronto-based company engaged in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company primarily produces gold, silver, zinc, and copper. On September 16, Agnico Eagle Mines Limited (TSX:AEM.TO) announced that it has agreed to subscribe for a 50% interest in Minas de San Nicolás (MSN) in Mexico, a wholly-owned subsidiary of Teck Resources Limited (NYSE:TECK). According to the agreement, Agnico Eagle Mines Limited (TSX:AEM.TO) will subscribe for $580 million of MSN shares. 

On October 17, Barclays analyst Matthew Murphy raised the price target on Agnico Eagle Mines Limited (TSX:AEM.TO) to $63 from $62 and reiterated an Overweight rating on the shares. The analyst prefers gold equities over base metals amid slowing global growth.

According to Insider Monkey’s Q2 data, 31 hedge funds were long Agnico Eagle Mines Limited (TSX:AEM.TO), compared to 38 funds in the prior quarter. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with 17.4 million shares worth $798.45 million. 

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