Agnico-Eagle Gold Mines (TSX:AEM) (NYSE:AEM) is a top gold stock that is firing on all cylinders. This means production growth, cash flow growth, and dividend growth. It also means stock price performance. Agnico-Eagle stock rallied almost 5% yesterday. It has a one-year return of 33% and a three-year return of 82%.
But what are the forces that are driving Agnico-Eagle’s strong growth today? Gold stocks rule in a crisis
In today’s environment, dividend cuts and economic troubles have been the norm. But gold stocks have been one of the exceptions. The price of gold is rapidly closing in on $2,000 per ounce. Prices have surpassed 2011 peak levels and appear to be headed higher. This is predicted by increasing global economic troubles, a falling U.S. dollar, and gold’s place as a safe haven.
In this pandemic crisis, one thing investors can count on is gold as a safe haven. You see, […]
October 30, 2020 (updated October 30, 2020) Published by StockMan