Agnico Eagle Mines Limited (NYSE:AEM) is one of the stocks Jim Cramer discussed, along with market shortages. Cramer mentioned the stock while discussing shortages in precious metals. He commented:
Unfortunately, it’s not just tech. We’ve got some real shortages in metals. Gold, silver, and copper are climbing relentlessly. The world has a lot of copper, so even though it’s used in the data center, I’d be circumspect about chasing it. But man, silver’s up 46% since the beginning of the year, and gold’s up 15%. Now, a lot of that’s because the dollar’s weak. It’s a store… of value, but we do have a permanent shortage in gold, not in silver, but in gold. Each year, we only replace about 1% of the world’s holdings between all the geopolitical uncertainty and the weakness of the dollar. There’s huge demand here. I would buy Agnico Eagle if I wanted to participate in it because they’re the best miner.
Image by Csaba Nagy from Pixabay
Agnico Eagle Mines Limited (NYSE:AEM) is a gold mining company that explores for and produces precious metals, including gold, silver, zinc, and copper.
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Disclosure: None. This article is originally published at Insider Monkey.