Yamana Gold Inc. (USA) (AUY): Insiders Aren’t Crazy About It

Page 1 of 2

Yamana Gold Inc. (USA) (NYSE:AUY) was in 25 hedge funds’ portfolio at the end of March. AUY investors should be aware of a decrease in hedge fund interest in recent months. There were 25 hedge funds in our database with AUY holdings at the end of the previous quarter.

Yamana Gold Inc. (USA) (NYSE:AUY)

To most market participants, hedge funds are perceived as slow, old financial tools of yesteryear. While there are more than 8000 funds in operation at present, we choose to focus on the moguls of this club, close to 450 funds. Most estimates calculate that this group has its hands on most of the smart money’s total capital, and by watching their top picks, we have found a few investment strategies that have historically beaten the market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 23.3 percentage points in 8 months (explore the details and some picks here).

Equally as beneficial, bullish insider trading activity is another way to parse down the investments you’re interested in. Just as you’d expect, there are a variety of stimuli for a corporate insider to sell shares of his or her company, but only one, very clear reason why they would buy. Plenty of academic studies have demonstrated the impressive potential of this tactic if investors know what to do (learn more here).

Keeping this in mind, it’s important to take a glance at the recent action regarding Yamana Gold Inc. (USA) (NYSE:AUY).

How have hedgies been trading Yamana Gold Inc. (USA) (NYSE:AUY)?

Heading into Q2, a total of 25 of the hedge funds we track held long positions in this stock, a change of 0% from the first quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their holdings substantially.

When looking at the hedgies we track, Passport Capital, managed by John Burbank, holds the largest position in Yamana Gold Inc. (USA) (NYSE:AUY). Passport Capital has a $35 million position in the stock, comprising 1.4% of its 13F portfolio. Coming in second is Vinik Asset Management, managed by Jeffrey Vinik, which held a $29.2 million position; 0.8% of its 13F portfolio is allocated to the company. Remaining hedgies with similar optimism include Richard Chilton’s Chilton Investment Company, Steven Cohen’s SAC Capital Advisors and David Dreman’s Dreman Value Management.

Since Yamana Gold Inc. (USA) (NYSE:AUY) has faced bearish sentiment from hedge fund managers, logic holds that there was a specific group of money managers that decided to sell off their full holdings heading into Q2. Intriguingly, Robert Pitts’s Steadfast Capital Management dumped the biggest investment of the 450+ funds we monitor, totaling about $10.9 million in call options, and Matthew Tewksbury of Stevens Capital Management was right behind this move, as the fund cut about $6.2 million worth. These transactions are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

How have insiders been trading Yamana Gold Inc. (USA) (NYSE:AUY)?

Insider buying is most useful when the company in question has experienced transactions within the past six months. Over the latest six-month time period, Yamana Gold Inc. (USA) (NYSE:AUY) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Yamana Gold Inc. (USA) (NYSE:AUY). These stocks are Agnico-Eagle Mines Limited (USA) (NYSE:AEM), Compania de Minas Buenaventura SA (ADR) (NYSE:BVN), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), AngloGold Ashanti Limited (ADR) (NYSE:AU), and Kinross Gold Corporation (USA) (NYSE:KGC). This group of stocks are in the gold industry and their market caps are similar to AUY’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!