Lansdowne Partners Reduce Position in LSE-listed Central Asia Metals

London-based fund Lansdowne Partners, managed by Paul Ruddock and Steve Heinz has reduced its position in London-listed Central Asia Metals Ltd (LON:CAML), a filing revealed. The fund now holds around 7.78 million shares, down from 9.05 million held earlier. The decreased position amasses 9.18% of the company’s voting rights. Earlier, Lansdowne disclosed upping its stake in Tableau Software Inc (NYSE:DATA) to 6.10% of the company outstanding Class A Common Stock.

Central Asia Metals

Central Asia Metals is a company hedquarted in England. It is specialized in copper extraction and production, as well as other precious metals and base metals mineral exploration. It’s operations are focused in Mongolia and Kazakhstan, with largest projects concentrated in copper, gold and molybdenum. In the first half of 2013, the company managed to produce over 4,800 tonnes of cathode copper, and to sell over 5,000 tonnes, which represents a surge from 1,700 tonnes of copper produced and $1,300 tonnes sold in the same period of last year. The revenue of the company surged by over a threefold in the first half and totaled $21.2 million, versus $6.8 million in the same period of last year.

The company’s stock has returned more than 20% since the beginning of the year, and sports a P/E of 12.11. According to the company’s website, some other major shareholders of Central Asia Metals are Legal & General Group, and Commonwealth American Partners LLP, each holding around 9.9 million shares, and 7.5 million respectively, the stakes representing 11.4% and 8.6% respectively. They are followed by Montoya Investment Limited, and Majedie Asset Management, which own 5.1 million shares, and 4.5 million shares respectively.

Disclosure: none

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