Lee Danner & Bass Inc. Invests $8.99 Million in Agnico Eagle Mines Limited (NYSE:AEM)

Lee Danner & Bass Inc. acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 137,427 shares of the mining company’s stock, valued at approximately $8,988,000.

Several other large investors have also recently bought and sold shares of AEM. Norges Bank acquired a new position in Agnico Eagle Mines during the 4th quarter worth $325,327,000. FIL Ltd lifted its holdings in Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Agnico Eagle Mines during the 4th quarter worth $132,257,000. Capital Wealth Planning LLC acquired a new position in Agnico Eagle Mines during the 4th quarter worth $88,547,000. Finally, TD Asset Management Inc lifted its holdings in Agnico Eagle Mines by 41.9% during the 4th quarter. TD Asset Management Inc now owns 4,274,964 shares of the mining company’s stock worth $235,535,000 after buying an additional 1,261,482 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AEM shares. TD Securities upped their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets lowered their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. CIBC increased their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group increased their target price on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $82.86.

Agnico Eagle Mines Stock Performance

NYSE:AEM traded down $0.22 during mid-day trading on Friday, hitting $81.47. The stock had a trading volume of 1,247,937 shares, compared to its average volume of 2,753,245. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $83.50. The stock has a market cap of $40.76 billion, a price-to-earnings ratio of 85.76, a PEG ratio of 0.77 and a beta of 1.06. The company’s 50 day simple moving average is $74.60 and its 200 day simple moving average is $65.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 1.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.65 EPS. Agnico Eagle Mines’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 3.52 earnings per share for the current year.

About Agnico Eagle Mines

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.