Stock Watch
WATCH: Stock picks — AngloGold Ashanti, Gold Fields and Vodacom
Gary Booysens from Rand Swiss chose to go short on Anglogold Ashanti and long Gold Fields, while Nick Kunze from Bridge Fund Managers chose Vodacom as his stock pick of the day. Booysens said Gold Fields has been struggling with its South Deep operation and CEO Nick Holland recently asked for more time to get the operation back on track. “It just shows that although gold miners operate very independently from one another, they do face similar pressures internationally. Pairing AngloGold and Gold Fields, one should look at the weakness in Gold Fields and the strengths in AngloGold.” Kunze said Vodacom has been generating some free cash-flow, amounting to R15.2bn in the last results. “Vodacom is also trading on a dividend yield of close to 7%, it’s sitting on a 52-week low and certainly is not expensive at the moment.”
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