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Agnico Eagle CEO sees only one reason to buy a gold stock
By Geoffrey Morgan and Jacob Lorinc
Bloomberg News
Monday, June 23, 2025
The head of one of the most valuable gold miners believes there's only one reason to buy a gold mining stock -- and too few companies in the industry are offering it to investors.
"The only reason you want to buy an equity is if it gives you a better return than just buying gold," Agnico Eagle Mines Ltd. Chief Executive Officer Ammar Al-Joundi said in an interview with Bloomberg.
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Toronto-based Agnico Eagle is one of the few large-cap gold mining stocks to outperform bullion in the last year, rising 84% while gold has added 44%. Agnico has also more than doubled the performance of rivals Barrick Mining Corp. and Newmont Corp. -- surpassing both on a market capitalization and a price-to-earnings basis in the process.
Meanwhile, a quarter of the stocks in the 56-member VanEck Gold Miners ETF have underperformed the commodity so far this year, even as investors have sought exposure to record-setting gold prices amid tariff-induced economic uncertainty and flaring geopolitical tensions. ...
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