Gold doesn’t drop in a straight line, and a Tax-Free Financial savings Account (TFSA) doesn’t forgive unhealthy timing. When gold slides, ask why it fell and what may reverse it. A U.S. greenback pop, compelled promoting, and broad market stress can push bullion down even when the story stays intact. You additionally have to respect how gold miners behave. A miner can fall more durable than gold as a result of buyers worth in prices, taxes, and operational threat. In a TFSA, that volatility can be just right for you, however provided that you possibly can maintain by ugly weeks with out blowing up your TFSA plan immediately.
Think about AEM
Agnico Eagle Mines (TSX:AEM) offers Canadians a stable option to play gold with out chasing tiny explorers. It runs mines in Canada and Mexico, and it focuses on long-life property in steady jurisdictions. Over the past 12 months, it benefited from greater realized gold costs, however it additionally tightened the enterprise. It leaned into money technology, stability sheet energy, and disciplined spending.
Latest information additionally leaned towards cleansing up the toolbox. Within the third quarter of 2025, it bought about 38 million shares of Orla Mining for whole proceeds of about $560 million. It took an accounting hit tied to the low cost and transaction prices, however the transfer nonetheless confirmed a sensible aim: flip investments into money when costs look proper. That sort of resolution issues when gold turns jumpy.
The stability sheet story seemed even louder. By Sept. 30, 2025, it held money and money equivalents of about US$2.4 billion and it carried long-term debt of about US$196 million, which left it with a internet money place of roughly US$2.2 billion. The gold producer entered 2026 with room to fund tasks, purchase again shares, or wait out volatility. It additionally set a catalyst, with fourth-quarter and full-year 2025 outcomes scheduled for Feb. 12, 2026.
Earnings assist
These earnings numbers present why buyers deal with it like a pacesetter. Within the third quarter of 2025, Agnico reported internet revenue of US$1.055 billion, or US$2.10 per share. It reported adjusted internet revenue of US$1.085 billion, or US$2.16 per share. It additionally produced 866,936 ounces of gold within the quarter.
Prices nonetheless matter after a gold dip. In that very same quarter, administration reported all-in sustaining prices of US$1,373 per ounce, up from US$1,286 a 12 months earlier. It additionally generated free money move of about US$1.19 billion for the quarter. That blend tells a easy story. It prints money at robust gold costs, however it nonetheless faces inflation, labour strain, and vitality swings that may pinch margins when bullion cools.
The outlook now is dependent upon whether or not gold’s drop marks a reset or a pattern. At writing, spot gold fell about 2% amid a firmer U.S. greenback and liquidation strain. If that transfer fades, a miner with internet money and free money move can look enticing on a rebound. If the slide continues, miners can preserve dropping even when operations run effectively, as a result of sentiment turns quick on this sector.
Backside line
So ought to TFSA buyers purchase the dip on this one? It could possibly work if you’d like publicity to gold and you’ll deal with the curler coaster, and you’ll dimension it modestly first. It affords scale, money technology, and a internet money stability that reduces stress when costs swing. The danger stays actual, as a result of prices can rise, mines can shock, and gold can preserve falling when markets de-risk. If you would like a miner you possibly can maintain by chaos, this gold inventory suits higher than most, however you continue to want a gentle abdomen.
