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San Gold Corporation - Institutional Ownership AnalysisSan Gold Corporation - Institutional Ownership Analysis

Institutional Ownership Analysis as of February 26, 2014

In this article about institutional ownership, I describe how I assess the shares owned by the on-the-radar investors. In short, I have created the following reference table for my institutional ownership assessment:

Ownership Change  Rating 
< -5%  Negative 
-5% - +5%  Neutral 
> +5%  Positive 

For more information about how to find your stock's current shareholders, please visit the following page: Company Ownership Search - 5 Free Resources to Find Your Stock's Current Shareholders.

Company Ownership Search on MSN.com

According to MSN the company ownership information is as follows:

  Name Shareholder  Shares Held  Shares Change  % Change  Report date  My Commentary 
Institutional Ownership (%)  24.41   
Top 3 Institutions  Sprott Asset Management LP  44,882,600  44,882,600  NA  10-10-13  According to the latest 13F Holdings Report from Sprott Inc. filed on the SEC for the quarter ended December 31, 2013 no position in SGR is reported. 
1832 Asset Management L.P  24,950,000  -16,675,000  -40.06  04-30-13  According to the latest 13F Holdings Report from this shareholder filed on the SEC for the quarter ended September 30, 2013 no position in SGR is reported. 
USAA Asset Management Company  12,200,000  -1,400,000  -10.29  08-31-13  The 13F Notice report didn't provide me with a confirmation that this institution still owns any stock. 
Mutual Fund Ownership (%)  5.87   
Top 3 Mutual Funds  USAA Precious Metals and Minerals Fund  12,200,000  -1,400,000  -10.29  08-31-13  The 13F Notice report didn't provide me with a confirmation that this institution still owns any stock. 
Junior Gold  1,600,000  1,000,000  166.67  07-31-13  I could not find this shareholder on the SEC. 
Precious Capital Global Mining & Metals  1,600,000  12-31-13  I could not find this shareholder on the SEC. 
5% Insider Ownership (%)  NA   

To inform yourself about the most recent company ownership information on MSN you should visit the following url: http://www.msn.com/en-us/money/stockdetails/ownership/fi-127.1.SGR.TSE

Institutional Stock Ownership Search on NASDAQ.com

According to NASDAQ the institutional stock ownership information is as follows:

  Name Shareholder  Shares Held  Shares Change  % Change  Report date  My Commentary 
Institutional Ownership (%)  00.01   
Top 3 Institutions  BADGLEY PHELPS & BELL INC 40,000  5,000  14.29  12-31-13  I have confirmed this position through the 13F Holdings Report filed on the SEC. 
NA           
NA           

To inform yourself about the most recent institutional ownership information on NASDAQ you should visit the following url: http://www.nasdaq.com/symbol/sgrcf/institutional-holdings

Institutional Stock Ownership Search on Reuters.com

According to Reuters the institutional stock ownership information is as follows:

% Shares Owned  14.47% 
# of Holders  18 
Total Shares Held  54,023,876 
3 Mo. Net Change  -7,372,000 

To inform yourself about the most recent institutional ownership information on Reuters you should visit the following url: http://www.reuters.com/finance/stocks/financialHighlights?symbol=SGRCF.PK

My Commentary and Conclusion Regarding this Institutional Ownership Analysis

Unfortunately, the available data on MSN, NASDAQ and Reuters is in conflict which each other. I was only able to confirm the position mentioned on NASDAQ, as I have reverse engineered the institutional stock ownership through the website of the SEC. As the data found is only relevant when I have been able to confirm it myself, I have excluded the data which I was unable to confirm and summarized my findings in the table below:

Shareholders  Shares Held
(Previous Reporting Period) 
Shares Held
(Latest Reporting Period) 
% Change  My Rating 
Total Shares Held by Institutions  35,000  40,000  +14.29  Positive 
Total Shares Held by Mutual Funds  NA  NA  NA  NA 

Thus, based on my findings in the table above, I have rated the instituational ownership as positive, as I found that the total institutional ownership has increased compared to their ownership in the previous period. However, you should always interpret someone's change in company ownership in conjunction with their total ownership in a stock. Therefore I have created the following table too:

Shareholders  Shares Held
(Latest Reporting Period) 
Shares Outstanding2  % Ownership 
Total Shares Held by Institutions  40,000    0.0% 
Total Shares Held by Mutual Funds  NA  NA 
Total Shares Held by 5% Insiders  NA  NA 
Total On-The-Radar Ownership1  40,000  373,390,981  0.0% 

Thus, based on my findings in the table above there is no substantial company ownership by on-the-radar investors, according to the latest reporting period.

Based on the information found on MSN, Nasdaq & Reuters and compared to the previous period, most institutional shareholders and mutual funds seem to have closed their complete positions in the company entirely.

I conclude my overall institutional ownership analysis with a negative rating, as the ownership change is greater than minus 5%.

The most striking data regards to Sprott Asset Management, who apparently initiated a new position in the second half of 2013 by acquiring almost 45 million shares until October 10, 2013. Then, they sold the entire position before December 31, 2013. They do still own 16,000,000 warrants with an exercise price of 0.18 per share, but if Sprott was really confident about the company's future prospects, they probably would not have sold this position, especially when you consider that they have acquired the majority of their position for just 0.125 per share. For more information about Sprott's investment in the company, you can read the company's press release of September 12, 2013.

 

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1 For a more detailed description of the on-the-radar investors, I refer you to the article: Insider Stock Ownership - Which Exclusive Type of Stock Owners Are Your Fellow Shareholders
2
See the Share Statistics, which you can find on the Stock Chart and Share Statistics page by clicking the link provided.

About Jeroen Snoeks

Jeroen Snoeks - UndervaluedEquity.com

Jeroen Snoeks is the founder of UndervaluedEquity.com, a website for investors passionate about investing in undervalued stocks. Through UndervaluedEquity.com, he shares his experience and knowledge and will soon reveal his personal stock portfolio.


 
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