Boyd said the company is opening five new mines that will increase its output of gold five-fold. He also said the company's mine in Quebec not only extracts gold but also other commodities in demand like silver, zinc and copper.
When asked about gold prices, Boyd agreed with Cramer that gold could rise to as much as $1600 per ounce. "$1600 is not unrealistic," he said. According to Boyd, there are several factors that could take the price of gold higher, including limited supply, increasing demand, and the weakening dollar. "Agnico-Eagle Mines is for me," Cramer said.
Lightning Round
Cramer was bullish on ABB Ltd (ABB Quote), CVRD (RIO Quote), Cleveland-Cliffs (CLF Quote), Quicksilver Resources (KWK Quote) and Gushan Energy (GU Quote). Cramer was bearish on Oceanfreight (OCNF Quote), RH Donnelley (RHD Quote), Western Digital (WDC Quote) and Delta Air Lines (DAL Quote). Want more Cramer? Check out Jim's rules and commandments for investing by clicking here. For more of Cramer's insights during the Lightning Round, click here.- Loading Comments...
- Loading Comments...
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,406.96 | 1,109.30 | 2,197.85 | 33.31 |
Oil *
78.75
|
|
UP
136.49
|
UP
15.82
|
UP
29.97
|
DOWN
0.98
|
10 Yr
3.33%
SPDR Gold
111.63
|
|
+1.33%
|
+1.45%
|
+1.38%
|
-2.86%
|
Data delayed 20 minutes |














