Agnico Eagle Mines Limited $AEM Stake Boosted by Lee Danner & Bass Inc.

Key Points

• Lee Danner & Bass Inc. increased its Agnico Eagle Mines position by 84.1% in the first quarter, adding 97,335 shares and bringing its total holding to 213,123 shares valued at about $43.3 million.
• Agnico Eagle reported strong quarterly results, with earnings of $3.40 per share and revenue of $4.0 billion, both ahead of analyst expectations. Revenue also rose 66.1% year over year.
• Despite the solid financial performance, the stock faces a near-term operational setback after Agnico suspended mining at the Barnat open pit due to rock movement, raising concerns about production at the Canadian Malartic complex.

Lee Danner & Bass Inc. boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 84.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 213,123 shares of the mining company's stock after buying an additional 97,335 shares during the quarter. Agnico Eagle Mines makes up approximately 2.7% of Lee Danner & Bass Inc.'s portfolio, making the stock its 5th largest holding. Lee Danner & Bass Inc.'s holdings in Agnico Eagle Mines were worth $43,260,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AEM. Brighton Jones LLC boosted its stake in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock worth $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Agnico Eagle Mines by 57.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock worth $379,000 after purchasing an additional 1,160 shares during the period. Rhumbline Advisers raised its holdings in shares of Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock worth $215,000 after purchasing an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Agnico Eagle Mines by 25.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $153.80 on Friday. The firm's 50 day moving average is $174.55 and its 200 day moving average is $193.54. The stock has a market capitalization of $78.06 billion, a P/E ratio of 14.45, a PEG ratio of 3.37 and a beta of 0.60. Agnico Eagle Mines Limited has a 12 month low of $115.19 and a 12 month high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data 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 net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business earned $1.53 EPS. Agnico Eagle Mines's revenue was up 66.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on AEM shares. Barclays assumed coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They set an "overweight" rating and a $213.00 price objective for the company. Weiss Ratings lowered Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday. Erste Group Bank cut Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce increased their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and an average price target of $236.23.

Key Stories Impacting Agnico Eagle Mines

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

Agnico Eagle Mines Company Profile

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.

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