11 Best Gold Stocks for Inflation

2. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Holders: 50

Dividend Yield: 1.62%

Known for its high-margin, low-cost production, Agnico Eagle Mines Limited (NYSE:AEM) is a major global gold mining company. Its operations are spread over Canada, Mexico, and Finland.

In the third quarter ended September 30, 2024, Agnico reported gold production of 863,445 ounces of gold, which was up from 850,420 ounces in Q3 2023. Additionally, gold sales increased by 1.52% YoY, driven by higher gold prices, which rose by 29% YoY. As a result, the company’s EBITDA rose by 64%, while free cash flow rose sevenfold from Q3 2023. The company’s stock has increased by over 26% year-to-date, driven by rising gold prices, cost optimizations, and strategic acquisitions.

In early 2025, Agnico Eagle Mines Limited (NYSE:AEM) acquired O3 Mining with a 94.1% share of the company. This acquisition was completed at a 58% premium, totaling $184 million, as reported by the company. Through this acquisition, Agnico plans to integrate O3 Mining’s assets into its portfolio and strengthen its footprint in Canadian and Latin American exploration.

Having already completed 76% of the midpoint of its full-year production guidance range, the company is well on track to meet its planned production. With a strong balance sheet, rising production, and smart acquisitions, Agnico Eagle is an attractive choice for those looking to hedge against inflation with gold. Hence, it deservingly earns its position in our list of the best gold stocks for inflation.