Lee Danner & Bass Inc. Increases Stake in Agnico Eagle Mines Limited $AEM

Lee Danner & Bass Inc. increased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 84.1% in the first quarter, Holdings Channel.com reports. The fund owned 213,123 shares of the mining company’s stock after acquiring an additional 97,335 shares during the quarter. Agnico Eagle Mines makes up about 2.7% of Lee Danner & Bass Inc.’s holdings, making the stock its 5th biggest holding. Lee Danner & Bass Inc.’s holdings in Agnico Eagle Mines were worth $43,260,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Koshinski Asset Management Inc. increased its holdings in Agnico Eagle Mines by 9.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,506 shares of the mining company’s stock worth $509,000 after acquiring an additional 221 shares during the period. Oxbow Advisors LLC boosted its holdings in Agnico Eagle Mines by 1.0% in the 1st quarter. Oxbow Advisors LLC now owns 87,269 shares of the mining company’s stock valued at $17,714,000 after purchasing an additional 878 shares during the period. HB Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 5.0% in the 1st quarter. HB Wealth Management LLC now owns 6,686 shares of the mining company’s stock valued at $1,357,000 after purchasing an additional 320 shares during the period. Moran Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 14.1% during the 1st quarter. Moran Wealth Management LLC now owns 15,985 shares of the mining company’s stock valued at $3,245,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Agnico Eagle Mines during the 1st quarter valued at $4,211,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines News Roundup

Here are the key news stories impacting Agnico Eagle Mines this week:

• Negative Sentiment: Agnico Eagle suspended mining at the Barnat open pit after a rock mass movement, creating uncertainty around production at the Canadian Malartic complex. AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC
• Negative Sentiment: Several reports highlighted the operational issue and possible production impact, reinforcing the market’s concern about a short-term earnings headwind. Agnico Eagle suspends Quebec pit mining, flags production hit
• Neutral Sentiment: Scotia slightly lowered its price target on Agnico Eagle to $278 from $280 while keeping a “sector outperform” rating, signaling continued optimism despite the recent operational setback. BayStreet.CA analyst ratings

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Canadian Imperial Bank of Commerce raised their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. UBS Group dropped their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Wall Street Zen raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $236.23.

Agnico Eagle Mines Stock Down 0.0%

Shares of NYSE:AEM opened at $153.80 on Friday. The firm has a market capitalization of $78.06 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 3.37 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. Agnico Eagle Mines Limited has a 52-week low of $115.19 and a 52-week high of $255.24. The firm has a fifty day moving average of $174.55 and a 200 day moving average of $193.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the business posted $1.53 earnings per share. The company’s revenue for the quarter was up 66.1% on a year-over-year basis. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 13.22 EPS for the current fiscal year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.