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 Click to see monthly returns in table format!

Lists

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

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!