Hedge funds and other investment firms run by legendary investors like Israel Englander and Ray Dalio are entrusted to manage billions of dollars of accredited investors’ money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to invest a greater amount of their resources in small-cap stocks than big brokerage houses, and this is often where they generate their outperformance, which is why we pay particular attention to their best ideas in this space.
Kinross Gold Corporation (USA) (NYSE:KGC) has experienced a decrease in support from the world’s most elite money managers lately. KGC was in 21 hedge funds’ portfolios at the end of the third quarter of 2015. There were 23 hedge funds in our database with KGC holdings at the end of the previous quarter. At the end of this article we will also compare KGC to other stocks including Hilltop Holdings Inc. (NYSE:HTH), Barnes Group Inc. (NYSE:B), and Globus Medical Inc (NYSE:GMED) to get a better sense of its popularity.
Today there are many indicators shareholders put to use to appraise their stock investments. Two of the most under-the-radar indicators are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the best investment managers can trounce their index-focused peers by a very impressive margin (see the details here).
With all of this in mind, let’s take a glance at the recent action regarding Kinross Gold Corporation (USA) (NYSE:KGC).
Hedge fund activity in Kinross Gold Corporation (USA) (NYSE:KGC)
At the end of the third quarter, a total of 21 of the hedge funds tracked by Insider Monkey were long this stock, a drop of 9% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of key hedge fund managers who were upping their holdings meaningfully (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, David Iben’s Kopernik Global Investors has the most valuable position in Kinross Gold Corporation (USA) (NYSE:KGC), worth close to $53.3 million, accounting for 11.1% of its total 13F portfolio. Sitting at the No. 2 spot is Jim Simons of Renaissance Technologies, with a $50.5 million stake; 0.1% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions comprise Cliff Asness’s AQR Capital Management, Joel Greenblatt’s Gotham Asset Management and John Overdeck and David Siegel’s Two Sigma Advisors.