3 Highly Ranked Gold Stocks to Buy on the Dip: AEM, EQX, HMY

Core Viewpoint - The recent U.S.-China trade deal has led to a dip in gold prices from historic highs, yet gold stocks remain a strong hedge against market volatility, benefiting from the commodity's peak [1]. Gold Stocks Overview - Several gold stocks have been recognized on the Zacks Rank 1 (Strong Buy) list, indicating their strong performance amid the commodity's historic peak [2]. Company Analysis: Agnico Eagle Mines (AEM) - Agnico Eagle Mines operates one of Canada's largest gold mines and has seen a 10% dip in stock price, which is considered an intriguing buying opportunity as the stock has increased over 30% year-to-date and 100% over the last three years [4][5]. - The company is projected to produce over 3 million ounces of gold in 2024, with gold reserves totaling 1.27 million tons [5]. Company Analysis: Equinox Gold (EQX) - Equinox Gold is trading at $6 per share, with a favorable risk-to-reward profile due to its growth potential in gold, copper, and silver mining [7]. - The company expects high double-digit growth, trading at 6X forward earnings and under 2X sales, with EPS projected to increase by 400$579 million in Q1 and provided a record interim dividend payout of $78 million, with a current annual dividend yield of 1.36% [12]. Investment Opportunity - The current market conditions present a "buy the dip" opportunity for these highly ranked gold stocks, which are expected to benefit from the historic surge in gold prices despite improved U.S. trade relations bringing more market stability [13].