Why Agnico Eagle Deserves a Spot in a Defensive Dividend Portfolio

Agnico Eagle Mines Limited (NYSE:AEM) is included among the 11 Best Canadian Dividend Stocks to Buy Now.

The company is a leading gold producer with mining operations in Canada, Finland, Australia, and Mexico. It is recognized for its stable operations, long-life mining assets, and solid financial position. Although gold prices can fluctuate, Agnico has a track record of maintaining resilient performance over the long term.

Agnico Eagle Mines Limited (NYSE:AEM) has shown remarkable growth in its gold production over the years. Back in 2008, the company operated only a single mine, LaRonde. Since then, it has significantly expanded its presence to 11 mines spread across four countries. This growth has been fueled by the development of new mining projects and well-planned acquisitions, particularly in regions considered to be lower risk.

Agnico Eagle Mines Limited (NYSE:AEM) reported a solid cash position in the first quarter of 2025. The company’s operating cash flow came in at $1.2 billion, and its free cash flow amounted to $594 million. Currently, it offers a quarterly dividend of $0.40 per share for a dividend yield of 1.34%, as of July 15. The company has paid uninterrupted dividends to shareholders since 1983.

While we acknowledge the potential of AEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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