Is Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from industry insiders. They fail miserably sometimes but historically their consensus stock picks outperformed the market after adjusting for known risk factors.
Is Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS) a splendid investment now? Prominent investors are taking a pessimistic view. The number of long hedge fund bets fell by 1 recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Marrone Bio Innovations Inc (NASDAQ:MBII), Aptose Biosciences Inc (NASDAQ:APTO), and Cytori Therapeutics Inc. (USA) (NASDAQ:CYTX) to gather more data points.
Now, we’re going to take a gander at the new action encompassing Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS).
How have hedgies been trading Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS)?
At the end of the third quarter, a total of 4 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -20% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes considerably (or already accumulated large positions).
When looking at the hedgies followed by Insider Monkey, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS). Renaissance Technologies has a $1.1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Millennium Management, managed by Israel Englander, which held a $0.5 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Ken Griffin’s Citadel Investment Group, and John Horseman’s Horseman Capital Management.