Jim Cramer on Agnico Eagle: “This Gold Stock Is so Shiny, You Need Sunglasses Just to Look at It”

Agnico Eagle Mines Limited (NYSE:AEM) is one of the stocks in focus on Jim Cramer’s game plan. Cramer commented that the company reflects “all the good in the world,” as he said:

Then there are two contrasting storied stocks that make terrific bookends for this segment, DraftKings and Agnico Eagle… Agnico Eagle, on the other hand, reflects all the good in the world and then some as the second-largest gold miner on earth. This gold stock is so shiny, you need sunglasses just to look at it. Here’s my advice: if you don’t own any gold, bite the bullet and get some of this stock in, then wait for it to pull back. It will, but always own some gold, especially after we saw that Bitcoin isn’t worth its weight in the precious metal, or perhaps maybe even anything.

Image by Csaba Nagy from Pixabay

Agnico Eagle Mines Limited (NYSE:AEM) is a gold mining company that explores for and produces precious metals, including gold, silver, zinc, and copper. Cramer discussed the company during the January 28 episode, as he commented:

So listen to me first about gold… We just don’t have enough of it. You think that with all the miners out there, the supply of gold will grow 2, 3, or 4% a year, right? Nope. The miners only grow the supply by 1%. They don’t call it precious for nothing. Plus, most of the gold is in places that are, let’s just say, not so great for doing business. I like Agnico Eagle, they were on the other night, second largest gold miner, because almost all of their gold is in Canada, a normal developed country. Now that gold has broken out above $5,400 an ounce, and I’m telling you, it is not done yet… Both Agnico Eagle and Barrack were up huge today. I would keep the gold. I’m a gold bug from way back.

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Disclosure: None. This article is originally published at Insider Monkey.