Donald G. Smith is the CIO of Donald Smith (Trades, Portfolio) & Co. The firm holds a portfolio of $3.7 million and the following are its largest trades during the second quarter.
The guru reduced his stake in Sanmina Corp. (SANM) by 32.67%, with an impact of -1.32% on the portfolio.
The company manufactures solutions, components, products and repair and provides logistics and after-market services. It provides these services to original equipment manufacturers, or OEMs in communications networks, computing and storage.
GAAP operating income in the third quarter was 3.3% of revenue, compared to 3.1% of revenue in the third quarter fiscal 2015 and GAAP net income was $29.5 million, compared to $24.5 million for the same period a year ago. GAAP diluted earnings per share for the quarter were 38 cents, compared to 29 cents in the third quarter of the previous year.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10, with an ROE of 27.44% and an ROA of 11.66%, which are outperforming 95% of the companies in the Global Electronic Components industry. Financial strength has a rating of 6 out of 10, with a cash to debt ratio of 0.79, below the industry median of 1.44.
Another notable shareholder among the gurus is Chuck Royce (Trades, Portfolio) with 5.63% of outstanding shares, followed by Jeremy Grantham (Trades, Portfolio) with 0.48%, John Hussman (Trades, Portfolio) with 0.2% and Barrow, Hanley, Mewhinney & Strauss with 0.19%.
The investor reduced his stake in WPX Energy Inc Class A. (WPX) by 59.48%, with an impact of -1.08% on the portfolio.
WPX is an independent natural gas and oil exploration and production company engaged in the exploitation and development of long-life unconventional properties.
During the second quarter, net loss attributable to common shareholders was $204 million, or a loss of 68 cents per share on a diluted basis.
GuruFocus gives the stock a profitability and growth rating of 2 out of 10, with an ROE of -49.00% and an ROA of -22.84%, which are underperforming 68% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.38, below the industry median of 0.45.
Arnold Schneider (Trades, Portfolio) is another notable shareholder of the company among the gurus, with 0.52% of outstanding shares, followed by T Boone Pickens (Trades, Portfolio) with 0.38%, Jeremy Grantham (Trades, Portfolio) with 0.16%, Steven Cohen (Trades, Portfolio) with 0.12% and Chuck Royce (Trades, Portfolio) with 0.05%.
The investor bought 264,260 shares in Goldman Sachs Group Inc. (GS), with an impact of 1.06% on the portfolio.
The company is an investment banking, securities and investment management firm. Its segments include Investment Banking, Trading and Principal Investments, Asset Management and Securities Services. Second quarter net revenues were 2% higher than the second quarter of 2015 and 7% higher than first quarter of 2016. It reported 2% growth for book value per common share.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10, with an ROE of 5.44%, which is outperforming and an ROA of 0.59%, which is underperforming 62% of the companies in the Global Capital Markets industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.41.
The largest shareholder among the gurus is Dodge & Cox with 3.7% of outstanding shares, followed by Warren Buffett (Trades, Portfolio) with 2.7%, Richard Pzena (Trades, Portfolio) with 0.46%, Bill Nygren (Trades, Portfolio) with 0.42% and HOTCHKIS & WILEY with 0.37%.
The guru reduced his stake in Yamana Gold Inc. (AUY) by 32.14%, with an impact of -1.01% on the portfolio.
The company is a gold producer engaged in gold mining activities including exploration, extraction, processing and reclamation. It has metal properties and land positions throughout the Americas including in Brazil, Chile, Argentina, Mexico and Canada.
Second quarter revenue from continuing operations was $466.5 million, compared to $455.0 million in the same period of 2015 and total production of 313,086 ounces of gold, compared to 293,708 ounces of gold in the same period of 2015.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10, with an ROA of -35.20% and an ROC of -18.65%, which are underperforming 70% of the companies in the Global Gold industry. Financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.16, below the industry median of 2.14.
Ray Dalio (Trades, Portfolio) is another notable shareholder of the company among the gurus, with 0.21%, followed by Louis Moore Bacon (Trades, Portfolio) with 0.1%, John Buckingham (Trades, Portfolio) with 0.09%, Jim Simons (Trades, Portfolio) with 0.04% and David Dreman (Trades, Portfolio) with 0.01%.
The investor increased his stake in Iamgold Corp. (IAG) by 892.68%, with an impact of 0.84% on the portfolio.
The company explores, develops and operates gold mining properties. It also operates a niobium mine.
Net cash from operating activities from continuing operations for the second quarter 2016 was $71.2 million, up $39.5 million from the same prior year period and it obtained additional commitments of $40 million on its revolving credit facility, for a total of $140 million.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10, with an ROE of -33.91% and an ROA of -20.96%, which are underperforming 69% of the companies in the Global Gold industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.88, below the industry median of 20.41.
The largest shareholder among the gurus is Jim Simons (Trades, Portfolio) with 3.07% of outstanding shares, followed by Donald Smith (Trades, Portfolio) with 2.06%, First Eagle Investment (Trades, Portfolio) with 1.98%, John Paulson (Trades, Portfolio) with 0.95% and Jeremy Grantham (Trades, Portfolio) with 0.14%.
The guru increased his stake in Primero Mining Corp. (PPP) by 400.13%, with an impact of 0.74% on the portfolio.
It is a Canadian based precious metals producer with mining operations in Mexico and Canada. Its properties include San Dimas gold-silver mine and Black Fox gold mine.
The company ended the second quarter with $79.5 million of total liquidity and realized a net loss of $19.4 million (12 cents per share) and adjusted net loss of $2.4 million (one cent per share).
GuruFocus gives the stock a profitability and growth rating of 7 out of 10, with an ROE of -20.52% and an ROA of -14.74%, which are underperforming 60% of the companies in the Global Gold industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.26, below industry median of 20.41.
Donald Smith (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 8.75% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 0.86% and Jim Simons (Trades, Portfolio) with 0.62%.
The investor raised his stake in Axcelis Technologies Inc. (ACLS) by 301.89%, with an impact of 0.62% on the portfolio.
The company designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. It also provides aftermarket lifecycle products and services.
Second quarter revenue was $64.5 million, compared to $67.5 million for the first quarter of 2016 and operating profit for the quarter was $4.6 million, compared to$2.5 million for the first quarter.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with an ROE of 6.25% and an ROA of 4.02%, which are outperforming 52% of the companies in the Global Semiconductor Equipment & Materials industry. Financial strength has a rating of 7 out of 10, with a cash to debt ratio of 1.28, below the industry median of 1.67.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 11.89% of outstanding shares, followed by Arnold Schneider (Trades, Portfolio) with 1.72%, Chuck Royce (Trades, Portfolio) with 1.4%, Jim Simons (Trades, Portfolio) with 0.4% and Paul Tudor Jones (Trades, Portfolio) with 0.04%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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