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Here is What Hedge Funds Think About Golden Star Resources Ltd. (USA) (GSS)

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What’s a smart Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS) investor to do?

In the eyes of many investors, hedge funds are perceived as bloated, outdated financial tools of a period lost to current times. Although there are In excess of 8,000 hedge funds in operation today, Insider Monkey aim at the masters of this group, about 525 funds. It is assumed that this group controls most of all hedge funds’ total capital, and by keeping an eye on their highest quality stock picks, we’ve identified a number of investment strategies that have historically beaten Mr. Market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Equally as key, bullish insider trading activity is a second way to look at the world of equities. Obviously, there are plenty of reasons for an upper level exec to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Many academic studies have demonstrated the impressive potential of this strategy if you know where to look (learn more here).

Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS)

Thus, it’s important to examine the recent info about Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS).

How have hedgies been trading Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS)?

Heading into Q3, a total of 11 of the hedge funds we track held long positions in this stock, a change of 38% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were upping their stakes significantly.

According to our 13F database, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS). Renaissance Technologies has a $1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by D. E. Shaw of D E Shaw, with a $0.5 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers with similar optimism include Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors and Israel Englander’s Millennium Management.

As aggregate interest spiked, particular hedge funds were leading the bulls’ herd. Citadel Investment Group, managed by Ken Griffin, established the largest position in Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS). Citadel Investment Group had 19.2 million invested in the company at the end of the quarter. Noam Gottesman’s GLG Partners also initiated a $16.2 million position during the quarter. The other funds with brand new GSS positions are Howard Marks’s Oaktree Capital Management, Jim Simons’s Renaissance Technologies, and D. E. Shaw’s D E Shaw.

What have insiders been doing with Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS)?

Bullish insider trading is at its handiest when the company in question has seen transactions within the past half-year. Over the last 180-day time period, Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll check out the relationship between both of these indicators in other stocks similar to Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS). These stocks are DRDGOLD Ltd. (ADR) (NYSE:DRD), Banro Corporation (USA) (NYSEAMEX:BAA), Tanzanian Royalty Exploration Corp. (US) (NYSEMKT:TRX), Primero Mining Corp (NYSE:PPP), and Timmins Gold Corp (NYSEMKT:TGD). This group of stocks are the members of the gold industry and their market caps match GSS’s market cap.

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