Gold Fields Limited (ADR) (GFI) Dips As Gold Hits 7-Week Low

As aggregate interest increased in Q1, key money managers were leading the bulls’ herd. Orbis Investment Management initiated the largest position in Gold Fields Limited (ADR) (NYSE:GFI), having $245.9 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $3.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Louis Bacon’s Moore Global Investments, Solomon Kumin’s Folger Hill Asset Management, and Mark Broach’s Manatuck Hill Partners.

Let’s now take a look at hedge fund activity in other stocks similar to Gold Fields Limited (ADR) (NYSE:GFI). These stocks are Texas Roadhouse Inc (NASDAQ:TXRH), Dillard’s, Inc. (NYSE:DDS), Nabors Industries Ltd. (NYSE:NBR), and Choice Hotels International, Inc. (NYSE:CHH). All of these stocks’ market caps match GFI’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $192 million. That figure was $418 million in GFI’s case. Nabors Industries Ltd. (NYSE:NBR) is the most popular stock in this table. On the other hand Choice Hotels International, Inc. (NYSE:CHH) is the least popular one with only 10 bullish hedge fund positions. Gold Fields Limited (ADR) (NYSE:GFI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NBR might be a better candidate to consider a long position.

Disclosure: None