Benzinga - Blue Line Capital president Bill Baruch and analyst Jannis Meindl discuss the macro outlook and what it means for metals. With Gold at $2,000 and Copper set to see a China lift, we cover Agnico Eagle Mines (NYSE: AEM), First Majestic Silver (NYSE: AG), and Southern Copper (NYSE: SCCO).
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Agnico Eagle Mines - Increasing Gold Production & Reserves Central banks were buying Gold at a record pace in 2022 and they're of to another strong start to the year in 2023. As Agnico has increased its Gold reserves by 1255% since 2011 with annual Gold production increasing by 218% over the same time frame, we take a look at the company compared to its peers.
First Majestic Silver - Silver Mine Underinvestment, But Cash Burning Silver mines have invested in excess of EBITDA for years now, making them challenging businesses on the surface. However, given the underinvestment story in the space and what could turn into much higher green-demand for the metal, we take a look at First Majestic and its peers.
Southern Copper - Best In Class Mine Life & Reserves Southern Copper is one of the deepest reserves of copper in the industry, making it an attractive play as demand is set to double by 2035. With underinvestment in the metals space writ large, we assess the company from a fundamental and technical perspective.
Blue Line Capital maintains no position in Agnico, First Majestic, and Southern Copper. Positions are subject to change without further notice.
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