2 US metals and mining stocks to explore in 2023


The metal mining sector suffered in 2022, hit by a slew of headwinds and an economic slowdown. However, the yellow metal proved to be the most precious asset in 2022, falling only 15 per cent when pitted against a fall of 19 per cent of the S&P500 and the US government bonds. So, how have the US metals and mining stocks performed in this tumultuous year for the equity market?

Let’s explore two US metal and mining stocks and their performances in recent quarters amid all these developments: 

Agnico Eagle Mines Limited (NYSE: AEM)

Agnico Eagle operates mines in Canada, Finland, and Mexico. It owns half of the Canadian Malartic mine. Agnico paid a quarterly dividend of US$ 0.40 apiece and holds a dividend yield of 3.075 per cent. It has a P/E ratio of 39.30.

Agnico posted a net income of US$ 79.6 million or US$ 0.17 per share in the third quarter of fiscal 2022. The cash provided by operating activities in Q3 2022 was US$ 575.4 million compared to US$ 297.2 million in the same period in 2021. Its payable gold production was recorded at 816,795 ounces in the reported 2022 quarter. The net income per (basic) share was US$ 0.17 in Q3 2022 compared to US$ 0.49 in Q3 2021.

Agnico Eagle Mines Limited operating activities cash and net income (2022 v 2021)

Source: ©Kalkine Media®; © Canva via

Alamos Gold Inc. (NYSE: AGI)

Alamos Gold Inc mainly operates in Canada and Mexico and operates three mines in North America. It is engaged in acquiring, exploring, and producing gold and other precious metals. Alamos holds a dividend yield of 0.994 per cent and distributed a quarterly dividend of US$ 0.025 per share.

The company has a P/E ratio of 159.40. In the three months that ended September 30, 2022, Alamos Gold registered operating revenues of US$ 213.6 million compared to US$ 198 million in the same period a year ago.

The company’s sales cost in the third quarter of 2022 was US$ 168.1 million versus US$ 129.5 million in the corresponding quarter in 2021. At the end of Q3 2022, Alamos reported cash & cash equivalents of US$ 116.7 million, while it was US$ 211.4 million in the year-ago quarter.

The gold-producing company said that in the third quarter of 2022, it produced 123,400 ounces of gold, which was a 19 per cent jump from the preceding quarter.

Bottom line

Investing may be challenging in today’s market scenario. Therefore, one must do proper market research before making critical investment decisions.


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