Escalating Geopolitical Turmoil Makes Two Canadian Mining Stocks Safe-Haven Focus

供需失衡下的黄金投资逻辑:从ETF到金矿股
Published on: Apr 22, 2026
Author: Amy Liu

Currently, ongoing geopolitical turmoil continues to create significant uncertainty. As of the time of writing, oil prices are once again approaching $93 per barrel, with market attention focused on economic trends. Experts are issuing warnings that signs of rising inflation, slowing growth, and even an economic recession are accumulating. Against this backdrop, how should investors make their choices? Which stocks can provide a haven for investment portfolios? This article introduces two Canadian mining stocks with strong track records that warrant investor attention.

Agnico-Eagle Mines (TEM): The Safe-Haven Advantage of Gold Stands Out

As a safe-haven asset, gold is today’s most valuable store of value, becoming the top investment choice during periods of high uncertainty. Taking the past 5 to 10 years as an example, gold prices have risen 221% since the end of 2019. In recent years, as tensions driven by the U.S. policy agenda have intensified, the increase in gold prices has been particularly pronounced.

In this environment, Agnico-Eagle Mines Ltd. has emerged as a favored Canadian gold producer. Unlike most other gold producers that operate mines in politically insecure jurisdictions, Agnico decided years ago to concentrate its operations in safe and stable jurisdictions.

This strategy has effectively reduced the risk level of this gold mining stock and allowed the company to focus on enhancing shareholder value and maintaining operational stability. Since 2021, Agnico’s operating cash flow has grown by more than 400%, reaching $1.3 billion. At the same time, its earnings per share (EPS) have grown by 361%, reaching $8.31. These results are already fully reflected in Agnico Eagle’s stock price performance.

According to Agnico’s 2025 financial results, the company reported EPS of $8.31, compared to $4.23 in the same period of the previous year. Operating cash flow reached a record $6.8 billion, and free cash flow reached a record $4.4 billion. Additionally, the quarterly dividend on Agnico Eagle’s stock was increased by 12.5%.

Teck Resources (TECK): Historic Rise Driven by Copper Demand

Copper is another base metal that has seen strong demand growth in recent years. Given the metal’s importance to modern society—in fact, copper is a critical mineral valued for its excellent electrical and thermal conductivity, durability, and corrosion resistance—this trend is not surprising.

Copper plays an indispensable role in power grids and clean energy technologies, from electric vehicles to data centers, and is needed in nearly all energy-related fields. This has driven a historic rise in copper prices. Over the past five years, copper prices have risen 87% to $6.08 per pound. The pattern of strong demand coupled with constrained supply growth continues.

Summary

In an economic environment characterized by persistent geopolitical uncertainty and unabated inflationary pressures, both gold and copper assets demonstrate unique potential for safe-haven protection and value appreciation. Agnico-Eagle Mines, with its operational strategy focused on safe jurisdictions and strong financial performance, stands out as a solid choice in the gold sector. Meanwhile, Teck Resources benefits from copper’s critical role in the clean energy transition and supply-demand dynamics, offering long-term growth momentum. For investors seeking to weather market volatility, these two Canadian mining stocks are worth adding to their watchlists.

Gold Mining Precious Metals Silver