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Timmins Gold Corp (TGD): Hedge Funds and Insiders Are Bearish, What Should You Do?

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Is Timmins Gold Corp (NYSEAMEX:TGD) a splendid stock to buy now? Money managers are getting less bullish. The number of bullish hedge fund bets retreated by 1 in recent months.

To the average investor, there are plenty of gauges shareholders can use to watch stocks. A duo of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can outclass the market by a healthy margin (see just how much).

Chuck Royce

Equally as important, optimistic insider trading sentiment is a second way to break down the world of equities. As the old adage goes: there are plenty of reasons for a bullish insider to cut shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the market-beating potential of this tactic if “monkeys” know where to look (learn more here).

With all of this in mind, we’re going to take a glance at the key action regarding Timmins Gold Corp (NYSEAMEX:TGD).

What does the smart money think about Timmins Gold Corp (NYSEAMEX:TGD)?

In preparation for this quarter, a total of 5 of the hedge funds we track were bullish in this stock, a change of -17% from the previous quarter. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were increasing their stakes meaningfully.

Of the funds we track, Eric Sprott’s Sprott Asset Management had the biggest position in Timmins Gold Corp (NYSEAMEX:TGD), worth close to $10.9 million, comprising 1.4% of its total 13F portfolio. On Sprott Asset Management’s heels is Royce & Associates, managed by Chuck Royce, which held a $7.8 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other peers with similar optimism include Michael Hintze’s CQS Cayman LP, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Griffin’s Citadel Investment Group.

Due to the fact that Timmins Gold Corp (NYSEAMEX:TGD) has experienced declining sentiment from hedge fund managers, it’s safe to say that there was a specific group of money managers that decided to sell off their entire stakes in Q1. It’s worth mentioning that Andy Redleaf’s Whitebox Advisors cut the largest stake of the 450+ funds we monitor, worth an estimated $0.3 million in stock., and Steven Cohen of SAC Capital Advisors was right behind this move, as the fund dumped about $0.1 million worth. These moves are intriguing to say the least, as total hedge fund interest was cut by 1 funds in Q1.

What have insiders been doing with Timmins Gold Corp (NYSEAMEX:TGD)?

Insider buying is best served when the primary stock in question has seen transactions within the past 180 days. Over the last half-year time period, Timmins Gold Corp (NYSEAMEX:TGD) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to Timmins Gold Corp (NYSEAMEX:TGD). These stocks are DRDGOLD Ltd. (ADR) (NYSE:DRD), Banro Corporation (USA) (NYSEAMEX:BAA), Tanzanian Royalty Exploration Corp. (US) (NYSEAMEX:TRX), Primero Mining Corp (NYSE:PPP), and Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS). All of these stocks are in the gold industry and their market caps are closest to TGD’s market cap.

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