Jim Cramer Suggests Owning Agnico Eagle

Agnico Eagle Mines Limited (NYSE:AEM) is one of the stocks in focus in the game plan Jim Cramer shared. Cramer highlighted it as his preferred gold stock, as he commented:

“If you want to own a gold stock, don’t own Newmont, which has disappointed. Own Agnico Eagle, which has incredibly low finding costs. That’s what matters.”

Agnico Eagle Mines Limited (NYSE:AEM) explores, develops, and produces precious metals, primarily gold, in addition to silver, zinc, and copper. Cramer mentioned the stock during the October 8 episode in light of the gold rally and said:

“What do we make of the spectacular rally in the price of gold, taking in above $4,000 an ounce for the first time in history? I always tell you to have some gold in your portfolio, yes, I am a gold bug, as a kind of insurance against inflation or currency devaluation, or just economic chaos. And this year, that insurance policy has paid off. Gold’s up 54% for the year. But you know what? You’ve done much, much better if you own certain gold miners. Take Cramer fave, Agnico Eagle Mines, up blistering 117% year to date. These guys have a bunch of low-cost mines coming online in the not-too-distant future. In other words, as long as gold prices stay high, I mean, these guys can make a killing.”

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