Is Vista Gold Corp. (NYSEAMEX:VGZ) a buy, sell, or hold? The smart money is selling. The number of long hedge fund positions retreated by 1 lately.
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With these “truths” under our belt, it’s important to take a peek at the key action surrounding Vista Gold Corp. (NYSEAMEX:VGZ).
How have hedgies been trading Vista Gold Corp. (NYSEAMEX:VGZ)?
At Q1’s end, a total of 8 of the hedge funds we track held long positions in this stock, a change of -11% from the previous quarter. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes substantially.
Of the funds we track, Sun Valley Gold, managed by Peter Franklin Palmedo, holds the biggest position in Vista Gold Corp. (NYSEAMEX:VGZ). Sun Valley Gold has a $26.1 million position in the stock, comprising 0.9% of its 13F portfolio. On Sun Valley Gold’s heels is Sprott Asset Management, managed by Eric Sprott, which held a $13.3 million position; the fund has 1.7% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Chuck Royce’s Royce & Associates, D. E. Shaw’s D E Shaw and Cliff Asness’s AQR Capital Management.
Judging by the fact that Vista Gold Corp. (NYSEAMEX:VGZ) has faced declining sentiment from the smart money, it’s safe to say that there exists a select few money managers who sold off their full holdings last quarter. Interestingly, Israel Englander’s Millennium Management sold off the largest position of the 450+ funds we monitor, totaling an estimated $0.1 million in stock.. Steven Cohen’s fund, SAC Capital Advisors, also dumped its stock, about $0.1 million worth. These transactions are important to note, as total hedge fund interest was cut by 1 funds last quarter.
How have insiders been trading Vista Gold Corp. (NYSEAMEX:VGZ)?
Insider buying is best served when the company in question has seen transactions within the past half-year. Over the last half-year time period, Vista Gold Corp. (NYSEAMEX:VGZ) has experienced 1 unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Vista Gold Corp. (NYSEAMEX:VGZ). These stocks are Comstock Mining, Inc. (NYSEAMEX:LODE), Lake Shore Gold Corp Ordinary Shares (Canada) (NYSEAMEX:LSG), International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM), Midway Gold Corp (USA) (NYSEAMEX:MDW), and Brigus Gold Corp (USA) (NYSEAMEX:BRD). All of these stocks are in the gold industry and their market caps are closest to VGZ’s market cap.