Value investor Arnold Van Den Berg (Trades, Portfolio) founded Century Management in Austin, Texas, more than 40 years ago. Austin is a long way from the Canadian border, but that didn’t keep Van Den Berg from dealing in – mostly selling but, in one case, buying – shares in eight Canadian-based stocks in the first quarter.
Van Den Berg sold his 365,155-share stake in Asanko Gold Inc (TSX:AKG, Financial), a Vancouver-based gold mining company whose crown jewel is a gold mine in Ghana. Van Den Berg sold the shares for an average price of $1.54 per share with an impact of -0.064% to his portfolio.
Asanko has a market cap of $262.8 million and an enterprise value of $84.47 million. It has a Price/Book of 0.7. When the closing bell rang Thursday, Asanko was selling for $1.51 per share.
Van Den Berg divested himself of his 1,563,121-stake in Rio Alto Mining Ltd (TSX:RIO, Financial), another Vancouver-based gold mining company. Van Den Berg sold his shares for an average price of $2.78 per share. The sale had a -0.44% impact on Van Den Berg’s portfolio.
At the close of trading Thursday, Rio Alto was selling for $3.48 per share.
Rio Alto has a market cap of $821.54 million and an enterprise value of $771.86 million. It has a P/E of 12.9, a Price/Book of 1.5 and a Price/Sales of 2.6.
In the previous quarter, Jean-Marie Eveillard (Trades, Portfolio) also sold his stake in Rio Alto.
Van Den Berg also sold his 680,625-share stake in Timmins Gold Corp (TSX:TMM, Financial), a Vancouver-based gold company, for an average price of $0.92 per share. The transaction had a -0.074% impact on Van Den Berg’s portfolio. When trading concluded on Thursday, Timmins was selling for $0.62 per share.
Timmins has a market cap of $111.51 million and an enterprise value of 94.6 million. It has a P/E of 122, a Price/Book of 0.5 and a Price/Sales of 0.8.
Van Den Berg reduced his holdings in four companies – Agnico Eagle Mines Ltd (TSX:AEM, Financial), Eldorado Gold Corp (TSX:ELD, Financial), Kinross Gold Corp (TSX:K, Financial) and Seabridge Gold Inc (TSX:SEA).
He sold 73,179 shares of Agnico, a Toronto-based gold producer, for an average price of $30.75 per share. The sale had a -0.2% impact on Van Den Berg’s portfolio.
At the end of trading Thursday, Agnico was selling for $31.39 per share.
Agnico has a market cap of $6.67 billion and an enterprise value of $7.74 billion. Its P/E is 240, its Price/Book is 1.5, and its Price/Sales is 3.3.
Mario Gabelli (Trades, Portfolio), John Hussman (Trades, Portfolio), Ray Dalio (Trades, Portfolio), John Paulson (Trades, Portfolio) and Jean-Marie Eveillard (Trades, Portfolio) have shares of Agnico in their portfolios. George Soros (Trades, Portfolio) sold his stake in the fourth quarter of 2014.
Van Den Berg sold 182,473 shares of Eldorado Gold, a Vancouver-based gold mining company, for an average price of $5.48 per share. The transaction had a -0.13% impact on Van Den Berg’s portfolio. When the closing bell rang Thursday, Eldorado Gold sold for $4.93 per share.
Eldorado Gold has a market cap of $3.45 billion and an enterprise value of $3.79 billion. It has a P/E of 60.1, a Price/Book of 0.6 and a Price/Sales of 3.4.
Mario Gabelli (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Jean-Marie Eveillard (Trades, Portfolio) and Ronald Muhlenkamp (Trades, Portfolio) have shares of Eldorado Gold in their portfolios.
Van Den Berg sold 62,391 shares of Kinross, a Toronto-based gold company, for an average price of $2.91 per share. The sale had a -0.02% impact on Van Den Berg’s portfolio.
Kinross sold for $2.43 per share when the trading session ended Thursday.
Kinross has a market cap of $2.76 billion and an enterprise value of $3.8 billion. It has a Price/Book of 0.5 and a Price/Sales of 0.8. Mario Gabelli (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Donald Smith (Trades, Portfolio), Ray Dalio (Trades, Portfolio), David Dreman (Trades, Portfolio) and Jean-Marie Eveillard (Trades, Portfolio) have shares of Kinross in their portfolios.
Van Den Berg sold 135,319 shares of Seabridge Gold, a Toronto-based mining company that mines silver and copper as well as gold, for an average price of $7.8 per share. The sale had a -0.12% impact on his portfolio.
Seabridge sold for $6.15 per share when the closing bell rang Thursday.
Seabridge Gold has a market cap of $293 million and an enterprise value of $282.14 million. It has a Price/Book of 1.4 and a Price/Sales of 0.
Van Den Berg more than doubled his stake in Yamana Gold Inc (TSX:YRI), a Toronto-based mining company, buying 1,244,041 shares for an average price of $4.05 per share. That transaction had a 0.63% impact on his portfolio and raised the volume of his stake to 2,407,291 shares.
Yamana sold for $3.76 per share when trading concluded Thursday.
Yamana has a market cap of $3.48 billion and an enterprise value of $5.09 billion. It has a Price/Book of 0.5 and a Price/Sales of 1.6.
Mario Gabelli (Trades, Portfolio), David Dreman (Trades, Portfolio), Donald Smith (Trades, Portfolio) and Ray Dalio (Trades, Portfolio) have shares of Yamana in their portfolios. Jean-Marie Eveillard (Trades, Portfolio) sold his stake in the fourth quarter of 2014.
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