First Eagle Global Equity ETF on Agnico Eagle Mines Limited
Thesis
Agnico Eagle remained a positive long-term holding even though its shares declined with gold prices. First Eagle cited record operational results during the quarter. The fund continues to like the company's strong balance sheet, healthy project pipeline and cost-efficient operations. Its focus on returning cash to shareholders further supports the investment case.
“We continue to like the company's strong balance sheet, healthy pipeline of projects, cost-efficient operations and focus on returning cash to shareholders.”
Key risks
- Lower gold bullion prices can pressure the shares.