Gavin Graham, chief investment officer at SmartBe Investments, discusses his top picks: Agnico Eagle, Definity Financial, and Pason Systems.It is the third largest gold miner globally with a 2022 output of 2.5 million oz. Agnico has successfully completed two major acquisitions in the last year, taking over Kirkland Lake Gold and the Canadian operations of Yamana, including the other 50 per cent of the giant Canadian Malartic mine in Quebec.
The recently demutualized holding company for the Economical Mutual Fire Insurance Company founded in 1871, Definity is the sixth largest property and casualty insurance company in Canada. Management has made the company profitable writing insurance and its Sonnet brand, is the largest direct-to-consumer insurer and it has a strong position in pet insurance. While up 50 per cent from its initial public offer in late 2021, it is reasonably priced at 16 times earnings and yields 1.5 per cent.
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