Cramer: A Bubble in Gold? No Way
“There is no bubble in gold,” Cramer declared on Wednesday. “It is a genuine multiyear rally.”
He thinks the move in gold is “just beginning,” and he wants investors to own some. So what’s the best play?
Cramer would normally first recommend the SPDR Gold Shares ETF , which tracks the price of gold. But he’s a big believer in Agnico-Eagle Mines , too.
AEM has actually outperformed the GLD since the last time Agnico CEO Sean Boyd appeared on “Mad Money” on Aug. 10, with both up 17 percent and 10 percent, respectively. And over much of the year, AEM has outperformed the GLD as well, climbing 28 percent since Cramer went bullish on it again in February versus the ETF’s 21 percent.
The company just reported a strong quarter on Wednesday, delivering a 22-cent earnings beat on a 51-cent basis. And Agnico increased gold production by 140 percent with a 233-percent increase in gross mine profit year-over-year.
Cramer wanted to hear more about these numbers and get a sense of what’s in store for AEM. Watch his interview with CEO Sean Boyd for the full report.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? email@example.com
Questions, comments, suggestions for the Mad Money website? firstname.lastname@example.org