Core Insights - 2025 was a strong year for gold stocks, driven by rising precious metal prices and increased demand for gold as a safe-haven asset, along with new applications for silver, copper, and other industrial metals [1] Company Performance - Agnico Eagle Mines experienced substantial gains in 2025, raising questions about the sustainability of the bull market for gold stocks as 2026 begins [2] - The company maintained a competitive edge through its portfolio of mining properties and world-class operations [2] Financial Metrics - In Q3 2025, Agnico Eagle extracted a similar amount of gold compared to the previous year, but the selling price was nearly $1,000 per ounce higher than a year prior [5] - Total cash costs increased by less than $75 per ounce, remaining below $1,000, while all-in sustaining costs rose modestly from $1,286 to $1,373 per ounce [5] - Adjusted net income surged by over $500 million to $1.085 billion, and free cash flow nearly doubled to $1.19 billion [6] Market Outlook - The rising gold prices, which recently surpassed $4,500 per ounce, suggest that Agnico Eagle's realized gold price of $3,476 per ounce in Q3 could increase as 2026 approaches [6] - Expectations for new mines to come online could further enhance gains for Agnico Eagle and similar gold-mining stocks [7]

Wheaton Precious Metals stock chart showing 86% surge in 2025 amid gold rallySOPA Images/LightRocket via Getty ImagesWheaton Precious Metals stock (NYSE: WPM) has experienced an incredible 86% rise year-to-date in 2025—an increase fueled by an unusual combination of soaring metal prices and record production that surprised the market. This momentum was not unexpected. Wheaton began 2025 with 633,481 gold-equivalent ounces produced in the previous year—a number that exceeded its own guidance and set the grou ...