Lee Johnson Capital Management LLC Buys Shares of 35,549 Agnico Eagle Mines Limited $AEM

Key Points

• Lee Johnson Capital Management LLC acquired 35,549 shares of Agnico Eagle Mines Limited valued at approximately $4.2 million, making it the firm's 24th largest holding.
• Institutional ownership of Agnico Eagle Mines is significant, with various funds increasing their stakes, resulting in 68.34% of shares being held by institutional investors.
• Agnico Eagle Mines reported earnings of $1.94 per share for the last quarter, surpassing estimates and achieving a 35.6% year-over-year revenue increase to $2.86 billion.

Lee Johnson Capital Management LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,549 shares of the mining company's stock, valued at approximately $4,228,000. Agnico Eagle Mines makes up 1.5% of Lee Johnson Capital Management LLC's holdings, making the stock its 24th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEM. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after acquiring an additional 2,709,005 shares during the period. Canada Pension Plan Investment Board grew its holdings in Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock worth $254,029,000 after acquiring an additional 854,924 shares during the period. Nuveen LLC acquired a new position in Agnico Eagle Mines during the first quarter worth $85,926,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after acquiring an additional 499,362 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

AEM stock opened at $167.03 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $168.55. The firm has a market cap of $83.98 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.10 and a beta of 0.44. The stock has a 50-day simple moving average of $142.02 and a 200-day simple moving average of $124.59.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AEM. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Finally, UBS Group upped their target price on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $141.40.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.

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