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.
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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.