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Ashanti Gold

TSXV:AGZ
Snowflake Description

Mediocre balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AGZ
TSXV
CA$3M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Ashanti Gold Corp. engages in the exploration and development of gold and other mineral properties in Western Africa. The last earnings update was 54 days ago. More info.


Add to Portfolio Compare Print
  • Ashanti Gold has significant price volatility in the past 3 months.
AGZ Share Price and Events
7 Day Returns
0%
TSXV:AGZ
1.7%
CA Metals and Mining
-0%
CA Market
1 Year Returns
-79.5%
TSXV:AGZ
-3.9%
CA Metals and Mining
2.6%
CA Market
AGZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ashanti Gold (AGZ) 0% 0% -11.1% -79.5% 0% -86.7%
CA Metals and Mining 1.7% 0.4% 13.7% -3.9% 15% -18.9%
CA Market -0% 0.5% 15.3% 2.6% 16.8% 5.3%
1 Year Return vs Industry and Market
  • AGZ underperformed the Metals and Mining industry which returned -3.9% over the past year.
  • AGZ underperformed the Market in Canada which returned 2.6% over the past year.
Price Volatility
AGZ
Industry
5yr Volatility vs Market

AGZ Value

 Is Ashanti Gold undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Ashanti Gold. This is due to cash flow or dividend data being unavailable. The share price is CA$0.04.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ashanti Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ashanti Gold's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:AGZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-11-30) in CAD CA$-0.09
TSXV:AGZ Share Price ** TSXV (2019-03-22) in CAD CA$0.04
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 13.35x
Canada Market PE Ratio Median Figure of 555 Publicly-Listed Companies 14.94x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ashanti Gold.

TSXV:AGZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:AGZ Share Price ÷ EPS (both in CAD)

= 0.04 ÷ -0.09

-0.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ashanti Gold is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Ashanti Gold is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Ashanti Gold's expected growth come at a high price?
Raw Data
TSXV:AGZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.65x
Canada Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ashanti Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ashanti Gold's assets?
Raw Data
TSXV:AGZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-11-30) in CAD CA$0.01
TSXV:AGZ Share Price * TSXV (2019-03-22) in CAD CA$0.04
Canada Metals and Mining Industry PB Ratio Median Figure of 1,081 Publicly-Listed Metals and Mining Companies 1.46x
Canada Market PB Ratio Median Figure of 2,355 Publicly-Listed Companies 1.57x
TSXV:AGZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:AGZ Share Price ÷ Book Value per Share (both in CAD)

= 0.04 ÷ 0.01

3.12x

* Primary Listing of Ashanti Gold.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ashanti Gold is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Ashanti Gold's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Ashanti Gold has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AGZ Future Performance

 How is Ashanti Gold expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ashanti Gold has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.3%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ashanti Gold expected to grow at an attractive rate?
  • Unable to compare Ashanti Gold's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Ashanti Gold's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Ashanti Gold's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSXV:AGZ Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 34.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 18.2%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:AGZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:AGZ Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-11-30 -4 -5
2018-08-31 -4 -5
2018-05-31 -4 -4
2018-02-28 -3 -3
2017-11-30 -3 -3
2017-08-31 -3 -3
2017-05-31 -2 -1
2017-02-28 -1 -1
2016-11-30 -1 0
2016-08-31 -1 0
2016-05-31 0 0 0
2016-02-29 0 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Ashanti Gold is high growth as no earnings estimate data is available.
  • Unable to determine if Ashanti Gold is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:AGZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Ashanti Gold Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:AGZ Past Financials Data
Date (Data in CAD Millions) EPS *
2018-11-30 -0.09
2018-08-31 -0.10
2018-05-31 -0.11
2018-02-28 -0.10
2017-11-30 -0.11
2017-08-31 -0.11
2017-05-31 -0.06
2017-02-28 -0.06
2016-11-30 -0.03
2016-08-31 0.01
2016-05-31 -0.20
2016-02-29 -0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ashanti Gold will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of AGZ’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Ashanti Gold's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Ashanti Gold's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Ashanti Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ashanti Gold has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AGZ Past Performance

  How has Ashanti Gold performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ashanti Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ashanti Gold does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Ashanti Gold's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ashanti Gold's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Ashanti Gold's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ashanti Gold Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:AGZ Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-11-30 -4.76 4.57
2018-08-31 -4.65 4.46
2018-05-31 -4.38 4.16
2018-02-28 -3.28 3.15
2017-11-30 -2.98 2.86
2017-08-31 -2.85 2.74
2017-05-31 -1.30 1.48
2017-02-28 -0.92 1.07
2016-11-30 -0.26 0.46
2016-08-31 0.03 0.20
2016-05-31 0.01 -0.37 0.16
2016-02-29 0.01 -0.40 0.17
2015-11-30 0.01 -0.43 0.20
2015-08-31 0.03 -0.46 0.22
2015-05-31 0.04 -0.52 0.23
2015-02-28 0.08 -0.50 0.23
2014-11-30 0.11 -0.49 0.22
2014-08-31 0.12 -0.46 0.21
2014-05-31 0.14 -1.57 0.22
2014-02-28 0.16 -1.56 0.23
2013-11-30 0.22 -1.51 0.22
2013-08-31 0.34 -1.49 0.26
2013-05-31 0.37 0.34 0.23
2013-02-28 0.31 0.30 0.24
2012-11-30 0.25 0.41 0.24
2012-08-31 0.13 0.35 0.24
2012-05-31 0.06 -0.14 0.29

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Ashanti Gold has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Ashanti Gold has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Ashanti Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Ashanti Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ashanti Gold has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AGZ Health

 How is Ashanti Gold's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ashanti Gold's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ashanti Gold's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Ashanti Gold has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ashanti Gold's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Ashanti Gold has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ashanti Gold Company Filings, last reported 3 months ago.

TSXV:AGZ Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-11-30 0.79 0.00 0.02
2018-08-31 1.35 0.00 0.59
2018-05-31 2.64 0.00 1.54
2018-02-28 1.64 0.00 0.56
2017-11-30 1.93 0.00 0.79
2017-08-31 1.18 0.00 0.15
2017-05-31 0.48 0.00 0.44
2017-02-28 0.89 0.00 0.90
2016-11-30 1.00 0.00 1.00
2016-08-31 0.11 0.00 0.12
2016-05-31 -0.83 0.09
2016-02-29 -0.81 0.04
2015-11-30 -0.76 0.03 0.00
2015-08-31 -0.73 0.08 0.00
2015-05-31 -0.46 0.07 0.00
2015-02-28 -0.41 0.06 0.00
2014-11-30 -0.33 0.01 0.00
2014-08-31 -0.27 0.06 0.00
2014-05-31 0.02 0.01 0.00
2014-02-28 0.06 0.00 0.00
2013-11-30 0.12 0.00 0.00
2013-08-31 0.15 0.04 0.00
2013-05-31 1.59 0.06 0.00
2013-02-28 1.61 0.06 0.00
2012-11-30 1.64 0.03 0.00
2012-08-31 1.65 0.03 0.04
2012-05-31 1.25 0.28 0.00
  • Ashanti Gold has no debt.
  • Ashanti Gold had no debt 5 years ago.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Ashanti Gold has less than a year of cash runway based on current free cash flow.
  • Ashanti Gold has less than a year of cash runway if free cash flow continues to grow at historical rates of 81.3% each year.
X
Financial health checks
We assess Ashanti Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ashanti Gold has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AGZ Dividends

 What is Ashanti Gold's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ashanti Gold dividends.
If you bought CA$2,000 of Ashanti Gold shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ashanti Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ashanti Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:AGZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ashanti Gold has not reported any payouts.
  • Unable to verify if Ashanti Gold's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ashanti Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ashanti Gold has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Ashanti Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ashanti Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ashanti Gold has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AGZ Management

 What is the CEO of Ashanti Gold's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tim McCutcheon
COMPENSATION CA$141,000
AGE 45
TENURE AS CEO 2.6 years
CEO Bio

Mr. Timothy Rand McCutcheon, also known as Tim, has been Chief Executive Officer and Director of Ashanti Gold Corp. since August 01, 2016. Mr. McCutcheon has been President of Wealth Minerals Ltd. since June 6, 2016. Mr. McCutcheon is a capital markets professional and mining corporate manager with over 20 years of international business experience. Since 2009, Mr. McCutcheon has been a Director/Chief Executive Officer of several public Emerging Markets mining resource companies with assets in Russia, Kyrgyzstan, Slovakia and Ghana. Mr. McCutcheon served as the Chief Executive Officer at MK2 Ventures Ltd. (alternate name : Global Minerals Ltd.) from June 2014 to June 9, 2015 and served as its President until June 9, 2015. Mr. McCutcheon served as the Chief Executive Officer of Abzu Gold Ltd from May 1, 2012 to May 2, 2013. Mr. McCutcheon served as Chief Executive Officer of Ovoca Gold plc from December 2009 to May 2012. He founded and served as Partner at DBM Capital Partners Ltd and focuses on metals and mining companies in Russia and "CIS" countries. Mr. McCutcheon served as a Partner of DBM Capital Partners, Investment Arm. He served as an Institutional Investor and Thomson Extel ranked EMEA Metals Analyst for Aton Capital. He served multiple financial institutions such as Bear Stearns, Aton Capital and Pioneer Investments as an award-winning metals and Mining Sector Analyst and as an investment banker. He was an Advisor to multiple international and domestic precious metals companies active in Russia's Mining Sector. He has been a Non Executive Director of Ovoca Gold plc since May 2012. Mr. McCutcheon served as an Executive Director of Ovoca Gold plc from January 2009 to April 2012 and served as its Non-Executive Director since January 19, 2009. He served as a Member of the Advisory Board of Kola Mining Corp. (Also known as Centrasia Mining Corp.) since October 2007. He served as a Director of Global Minerals Ltd from June 11, 2014 to June 9, 2015. He served as a Director of Abzu Gold Ltd from May 1, 2012 to May 2, 2013. He served as a Member of the Advisory Board at Mitchell Resources Ltd. since October 2007. He served as an Independent Director of Consolidated Puma Minerals Corp. since August 28, 2006. Mr. McCutcheon studied BA, cum laude from Columbia College, New York in 1994 and an MBA, Finance from Columbia Business School in 2001.

CEO Compensation
  • Insufficient data for Tim to compare compensation growth.
  • Tim's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Ashanti Gold management team in years:

2.6
Average Tenure
50
Average Age
  • The tenure for the Ashanti Gold management team is about average.
Management Team

Tim McCutcheon

TITLE
CEO & Director
COMPENSATION
CA$141K
AGE
45
TENURE
2.6 yrs

Ann Fehr

TITLE
Chief Financial Officer
COMPENSATION
CA$27K
AGE
49
TENURE
2.6 yrs

Paul Klipfel

TITLE
COO & Chief Geologist
COMPENSATION
CA$149K
TENURE
2.6 yrs

Jackie Collins

TITLE
Corporate Secretary
AGE
51
TENURE
2.6 yrs

John Robins

TITLE
Strategic Consultant & Member of Advisory Board
AGE
58
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the Ashanti Gold board of directors in years:

2.4
Average Tenure
58
Average Age
  • The average tenure for the Ashanti Gold board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tim McCutcheon

TITLE
CEO & Director
COMPENSATION
CA$141K
AGE
45
TENURE
2.6 yrs

John Robins

TITLE
Strategic Consultant & Member of Advisory Board
AGE
58
TENURE
0.9 yrs

Grant Sinitsin

TITLE
Director
TENURE
2.7 yrs

Jonathan Henry

TITLE
Director
AGE
51
TENURE
2.3 yrs

Henk Van Alphen

TITLE
Member of Advisory Board
AGE
65

Bill Pincus

TITLE
Member of Advisory Board
AGE
64
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
07. Jun 18 Buy Timothy McCutcheon Individual 07. Jun 18 07. Jun 18 6,000 CA$0.16 CA$960
06. Jun 18 Buy Timothy McCutcheon Individual 05. Jun 18 06. Jun 18 14,000 CA$0.15 CA$2,115
25. Apr 18 Buy Donald Smith & Co., Inc. Company 25. Apr 18 25. Apr 18 2,740,000 CA$0.15 CA$411,001
X
Management checks
We assess Ashanti Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ashanti Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AGZ News

Simply Wall St News

How Much Of Ashanti Gold Corp (CVE:AGZ) Do Institutions Own?

If you want to know who really controls Ashanti Gold Corp (CVE:AGZ), then you'll have to look at the makeup of its share registry. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned.

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Who Are The Largest Shareholders In Ashanti Gold Corp (CVE:AGZ)?

In this analysis, my focus will be on developing a perspective on Ashanti Gold Corp’s (CVE:AGZ) latest ownership structure, a less discussed, but important factor. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … Check out our latest analysis for Ashanti Gold

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Why Ashanti Gold Corp's (CVE:AGZ) Investor Composition Impacts Your Returns

View our latest analysis for Ashanti Gold TSXV:AGZ Ownership_summary Jun 1st 18 Institutional Ownership AGZ's 14.18% institutional ownership seems enough to cause large share price movements in the case of significant share sell-off or acquisitions by institutions, particularly when there is a low level of public shares available on the market to trade. … Although AGZ has a high institutional ownership, such stock moves, in the short-term, are more commonly linked to a particular type of active institutional investors – hedge funds. … Next Steps: AGZ's considerably high level of institutional ownership calls for further analysis into its margin of safety.

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Should You Be Concerned About Ashanti Gold Corp's (CVE:AGZ) Investors?

This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Next Steps: AGZ's considerably high level of institutional ownership calls for further analysis into its margin of safety.

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How Does Investing In Ashanti Gold Corp (CVE:AGZ) Impact Your Portfolio?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … Check out our latest analysis for Ashanti Gold An interpretation of AGZ's beta Ashanti Gold has a beta of 8.53, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … AGZ, with its market capitalisation of CA$7.17M, is a small-cap stock, which generally have higher beta than similar companies of larger size.

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Interested In Basic Materials? Why Ashanti Gold Corp (TSXV:AGZ) May Be The Entry Point

Ashanti Gold Corp (TSXV:AGZ), a CADCA$7.52M small-cap, is a metals and mining operating in an industry which is sensitive to changes in the business cycle, as it supplies materials for construction activities. … TSXV:AGZ Past Future Earnings Nov 25th 17 Overall, the basic materials sector seems to be predominantly mature in terms of its industry life cycle. … If AGZ has been on your watchlist for a while, now may be the time to enter into the stock, if you like its ability to deliver growth and are not highly concentrated in the metals and mining industry.

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What Kind Of Risk And Return Should You Expect For Ashanti Gold Corp (TSXV:AGZ)?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … Ashanti Gold has a beta of 8.36, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … However, this is the opposite to what AGZ’s actual beta value suggests, which is higher stock volatility relative to the market.

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AGZ Company Info

Description

Ashanti Gold Corp. engages in the exploration and development of gold and other mineral properties in Western Africa. Its flagship project is the Kossanto East project covering an area of 66.41 km2 in western Mali. The company was formerly known as Gulf Shores Resources Ltd. and changed its name to Ashanti Gold Corp. in August 2016. Ashanti Gold Corp. was founded in 1993 and is headquartered in Vancouver, Canada.

Details
Name: Ashanti Gold Corp.
AGZ
Exchange: TSXV
Founded: 1993
CA$2,953,820
73,845,500
Website: http://www.ashantigoldcorp.com
Address: Ashanti Gold Corp.
1177 West Hastings Street,
Suite 2300,
Vancouver,
British Columbia, V6E 2K3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV AGZ Common Shares TSX Venture Exchange CA CAD 13. Mar 1997
OTCPK GULS.F Common Shares Pink Sheets LLC US USD 13. Mar 1997
DB A2AMVS Common Shares Deutsche Boerse AG DE EUR 13. Mar 1997
BST GFU2 Common Shares Boerse-Stuttgart DE EUR 13. Mar 1997
Number of employees
Current staff
Staff numbers
0
Ashanti Gold employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 23:37
End of day share price update: 2019/03/22 00:00
Last earnings filing: 2019/01/29
Last earnings reported: 2018/11/30
Last annual earnings reported: 2018/08/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.