Gold & silver poised to rise: How investors can profit now with Agnico Eagle Mines, Silver Viper Minerals, and Harmony Gold!

Expensive war, high debt!

But this is likely to be short-lived and now offers opportunities for investors. After the outbreak of the war, gold and silver initially moved sideways after a brief spike. Both are "suffering" from the strong dollar. The effect was much more pronounced for stocks in the sector, some of which took a significant hit. But that is precisely the right opportunity. The consequences of the war will continue to shake the dominance of the dollar in the medium to long term. According to the military, the US spent more than USD 1 billion per day on ammunition in the first week of the war alone. And the US Treasury reported that it had already reached a deficit of USD 1 trillion this year – and it is only mid-March.

Agnico Eagle: The champion among gold miners

Agnico Eagle Mines achieved something historic in 2025. The Canadians rose to become the world's second-largest gold producer after Newmont for the first time, overtaking their national competitor, Barrick Mining. Agnico Eagle Mines is considered the gold standard in industry. For years, its management has impressed with skillful acquisitions and strict cost control. The figures for the fourth quarter and the full year 2025 once again show a host of records. Free cash flow reached a high of around USD 4.4 billion. Net profit rose to USD 4.5 billion, more than doubling compared to the previous year 2024.

Last year, the Toronto-based group produced around 3.45 million ounces of gold and achieved an average selling price of USD 3,454 per ounce. However, what is exciting for investors is the selling price realized in Q4, which was USD 4,162 per ounce. At the moment, gold is trading solidly above the USD 5,000 mark. If this level is maintained, Agnico Eagle is likely to deliver new record figures in the current first quarter of 2026. When presenting the figures, management announced that it is actively looking for acquisitions.

Agnico's stock is traditionally highly valued. With mines in Canada, Australia, Finland, and Mexico, the company focuses on secure jurisdictions and is rewarded for this by the market. Since the start of the war, however, the stock has fallen by about 15% from its all-time high of nearly CAD 345.

Nevertheless, its performance over a 12-month period is still more than 100%. In addition to the rising gold price, the steady increase in dividends and the share buyback program, which amounted to around USD 600 million in 2025 alone and is set to continue this year, are also contributing factors.

Silver: There is no way around Mexico and Silver Viper!

When it comes to silver, there is no way around Mexico. The country is the world's largest producer and can look back on a tradition of mining that spans several centuries. Silver Viper Minerals, a Canadian explorer, has established itself there. The company is developing several projects and is one of the most promising stocks in the silver business.

The management team, led by CEO Stephen Cope, is focusing on the flagship La Virginia project in the Mexican province of Sonora in the far northwest of the country. Silver Viper already has a considerable resource here. The study, prepared in accordance with Canadian standard NI 43-101, estimates 253,000 ounces of gold equivalent in the indicated category and 445,000 ounces of gold equivalent in the inferred category. However, this study dates from 2021, and the company has since invested heavily in exploration. A diamond drilling program has been underway since the end of 2025, focusing on new zones such as El Molino. The goal is to expand the existing resource from the El Rubi target area. An update of the resource estimate is expected as early as the second quarter.

While "La Virginia" is gold-rich, Silver Viper is primarily focused on silver at the Coneto project, acquired from Fresnillo and Orex Minerals. It is located in Mexico's well-known silver belt in the state of Durango. It is in the vicinity of world-class silver mines such as those owned by Fresnillo, which, incidentally, became a major shareholder in Silver Viper through the sale of the project. More than 40 epithermal quartz veins have already been identified at Coneto, which are traditionally known in Mexico for their high silver content. According to data from the previous owners, the project contains approximately 19.1 million ounces of silver with an average grade of 112 g/t. In addition, there are approximately 286,000 ounces of gold with a grade of 1.67 g/t. Due to its size and the many epithermal quartz veins, this project offers district potential and could become a game-changer for Silver Viper's stock. In 2026, the company plans to use historical data from over 50,000 meters of drilling to present a resource update towards the end of the year.

Silver Viper Minerals currently has a market capitalization of approximately CAD 110 million, offering significant upside potential. The share price has roughly halved since its peak at the turn of the year. As the silver boom continues and demand is growing strongly in contrast to supply, this offers investors the opportunity to pick up shares at a lower level. Especially since the company will have a lively news flow in the coming months. Incidentally, the company is well equipped financially for the upcoming work: at the beginning of the year, Silver Viper raised around CAD 17 million from investors!

CEO Steve Cope presented his plans for 2026 at the 18th International Investment Forum.

South Africa's pearl after the crash

Last but not least, Harmony Gold is currently worth a look. South Africa's largest gold producer has fallen on hard times. Its share price has almost halved since its peak at the end of January. There were two operational reasons for this. Gold production fell by a whopping 9% to 724,099 ounces in the first half of the year (financial year ends in June). The Hidden Valley gold mine in Papua New Guinea failed to meet expectations due to an earthquake and a shortage of sodium cyanide in South Africa. In addition, investors had probably hoped for more from the expansion into the copper business. Harmony expects annualized copper production of 28,000 tons from the newly acquired CSA mine in Australia for the current fiscal year. This was acquired in mid-2025 together with the Eva copper project in Australia and the Wafi-Golpu project in Papua New Guinea. Previously, the mine had produced 40,000 tons of copper. CEO Beyers Nel explained the disappointment with safety stoppages and shaft renovations.

On the other hand, Harmony is receiving a lot of tailwind from the gold price, which rose by around 60% in 2026 alone. As a result, profits rose by 13% despite operational problems in the first half of the year. Harmony plans to increase its interim dividend to ZAR 5.30 per share, up from ZAR 2.27 previously. This corresponds to a record payout of ZAR 3.38 billion in total, which is equivalent to around EUR 180 million. If the stock now stabilizes and finds a bottom, risk-aware investors could bet on a comeback.

While all eyes are on the Persian Gulf, gold and silver now offer opportunities for bold investors. Stocks such as Agnico Eagle have fallen back, but record profits continue to be generated, and shares are being bought back. Silver Viper Minerals should benefit not only from the high supply deficit in the silver market but also from its promising projects in Mexico. This year alone, the company plans to update two resource estimates. Last but not least, Harmony Gold offers the chance of a comeback for its stock if it finds solid ground.