Topic: How To Invest

Q: Hi. Please provide an update on Agnico Eagle? Thank you.

Article Excerpt

A: Agnico Eagle Mines Ltd., $57.60, symbol AEM on Toronto (Shares outstanding: 455.7 million; Market cap: $26.4 billion; Resources sector; TSINetwork Rating: Extra Risk; www.agnico-eagle.com), operates producing gold mines in Canada, Australia, Finland and Mexico. In Canada, it owns the La Ronde, Canadian Malarctic, Goldex, Maccassa, Detour Lake mine, Meliadine, Meadowbank and Hope Bay mines. Agnico also owns the Fosterville mine in Australia, the Kittala mine in Finland, the Pino Altos mine in the U.S. and La India in Mexico. In February 2021, the company completed the acquisition of Toronto-listed TMAC Resources Inc. for $226.0 million (Cdn.). TMAC owned and operated the Hope Bay mine in Hope Bay, Nunavut. The mine went into production in 2017. TMAC also held exploration properties in the Kitikmeot region of Nunavut. Subsequently, Agnico made an even bigger acquisition. In February 2022, the company completed the purchase of Kirkland Lake Gold Ltd. (symbol KL on Toronto) in an all-stock transaction valued at $13.5 billion (Cdn.). The acquisition added three gold…