11 Best Gold Mining Companies to Invest in Right Now

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2. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Holders: 54

A leading name in the Canadian gold market, Agnico Eagle Mines Limited (NYSE:AEM) runs exploration and development projects in the United States alongside mining operations in Canada, Finland, Australia, and Mexico. The company maintains full exposure to shifting gold prices by avoiding forward gold sales.

During Q3 2024, AEM repaid $375 million in debt, increased cash reserves, and delivered outstanding shareholder returns. Agnico Eagle Mines Limited (NYSE:AEM) also maintained a strong liquidity position, with an operational cash flow of more than $1.08 billion and a free cash flow of $620 million.

In a recent takeover offer, Agnico Eagle Mines Limited (NYSE:AEM) bought 95.6% of O3 Mining’s outstanding shares, intending to fully acquire the company through a merger agreement. Besides giving stakeholders cash in return for their shares, this deal strengthens Agnico Eagle’s position in the mining industry by allowing it to fully integrate O3 Mining’s activities and assets.

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