Stock recommendations for 4 June from MarketSmith India

Agnico Eagle Mines said May 19 it approved investment for its Hope Bay gold project in Nunavut, Canada. The underground mine is planned with a 6,000 tpd processing facility and an estimated 11-year initial life, targeting 400,000–435,000 oz of annual production. Initial capex is about $2.4B, with projected total cash costs near $958/oz and a 26% after-tax IRR, plus $100M+ exploration over three years.

Simply Wall St reports conflicting analyst views on Next (LSE:NXT) after Investec upgraded the stock to Buy with a £14,000 price target, citing confidence in Next’s revenue and margin plans. Citi cut its target by £3.42, citing execution risk. The article also notes Next shareholders approved a 181p final dividend and that fair value fell £147.57 to £146.99.

Alphabet’s Google agreed to pay SpaceX $920 million per month for compute under a cloud-services deal running through mid-2029, according to an amended S-1 filing reported by Bloomberg. Payments start October and run through June 2029, with capacity ramping up at reduced cost. Total spend at the full rate is about $30.4 billion. The contract can be terminated if Nvidia chip access isn’t delivered by Sept. 30. The deal follows Alphabet’s $80 billion equity raise and higher AI capex guidance.

TSMC CEO C.C. Wei said at the June 4 shareholder meeting that the company will not follow memory-chip rivals’ approach of sharp price increases, despite strong demand. He warned global chip supply will lag AI demand for years. TSM shares fell about 2% premarket. TSMC also reaffirmed 2026 revenue growth above 30% and a 56% gross margin.

Peabody Energy shares (NYSE: BTU) rose as much as 15% this week after President Trump invoked the Defense Production Act on June 4 to support coal. The administration said it would fund hundreds of millions for coal infrastructure, including $350 million for new and recommissioned plants, plus DOE funding. Peabody, the U.S.’s largest coal producer, reported 65 million tons mined in 2025.

UnitedHealth (UNH) shares rose after Bank of America upgraded the stock, with the article citing valuation metrics near sector medians (forward P/E 20.52x; forward P/S 0.77x). It attributes performance to AI-driven efficiency, including a $1.5 billion AI investment and Optum Real processing 500 million transactions YTD. Analysts cited a mean $403.92 target and mostly “Strong Buy” ratings.