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Is Yamana Gold Inc. (USA) (AUY) Going to Burn These Hedge Funds?

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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Yamana Gold Inc. (USA) (NYSE:AUY) .

Is Yamana Gold Inc. (USA) (NYSE:AUY) going to take off soon? Investors who are in the know are taking a bearish view. The number of long hedge fund bets fell by 4 recently. There were 24 hedge funds in our database with AUY holdings at the end of the previous quarter. At the end of this article we will also compare AUY to other stocks including East West Bancorp, Inc. (NASDAQ:EWBC), Starwood Property Trust, Inc. (NYSE:STWD), and American Greetings Corporation (NYSE:AM) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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How are hedge funds trading Yamana Gold Inc. (USA) (NYSE:AUY)?

At Q3’s end, a total of 20 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 17% decline from one quarter earlier. On the other hand, there were a total of 11 hedge funds with a bullish position in AUY at the beginning of this year. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

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Of the funds tracked by Insider Monkey, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital has the largest position in Yamana Gold Inc. (USA) (NYSE:AUY), worth close to $122.2 million. Coming in second is AQR Capital Management, led by Cliff Asness, holding a $65.1 million position. Remaining professional money managers with similar optimism encompass Kurt Billick’s Bocage Capital, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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