Top Stock Picks of 2026: Agnico Eagle Mines

For the final few weeks of the first quarter we're going to highlight one of Schaeffer's top 15 picks for 2026. First up, we have gold miner Agnico Eagle Mines Ltd (NYSE:AEM). To access the entirety of the 2026 report, click here.

The following is our analysis from Dec. 23 for the upcoming year.

Agnico Eagle Mines (AEM) recently staged a strong breakout after multiple attempts to capture the $90 level. The shares haven't closed beneath the 80-day moving average since January and are now consolidating at their recent highs in a bullish pennant pattern. Political tailwinds have also boosted the mining sector, particularly amid brewing tensions between the U.S. and Venezuela.

Negative sentiment related to a potential AI bubble could bring more defensive positioning into hard assets as well. Historically, miners see 1.5 to two times the upside in such cycles. The company is fundamentally doing well, too, as it recently issued strong quarterly results and rose to the top of the VanEck Gold Miners ETF (GDX).