Kinross Gold Corporation (USA) (NYSE:KGC) shareholders have witnessed a decrease in activity from the world’s largest hedge funds of late.
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With all of this in mind, we’re going to take a gander at the key action encompassing Kinross Gold Corporation (USA) (NYSE:KGC).
How are hedge funds trading Kinross Gold Corporation (USA) (NYSE:KGC)?
At year’s end, a total of 27 of the hedge funds we track held long positions in this stock, a change of -21% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were upping their holdings substantially.
Of the funds we track, John Burbank’s Passport Capital had the biggest position in Kinross Gold Corporation (USA) (NYSE:KGC), worth close to $137 million billion, accounting for 5.3% of its total 13F portfolio. Coming in second is Jean-Marie Eveillard of First Eagle Investment Management, with a $134 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Jeffrey Vinik’s Vinik Asset Management, Peter Franklin Palmedo’s Sun Valley Gold and Martin Whitman’s Third Avenue Management.
Due to the fact that Kinross Gold Corporation (USA) (NYSE:KGC) has experienced a declination in interest from the entirety of the hedge funds we track, we can see that there exists a select few hedgies that slashed their entire stakes in Q4. Intriguingly, John Kleinheinz’s Kleinheinz Capital Partners cut the biggest investment of the “upper crust” of funds we monitor, comprising close to $27 million in stock., and George Soros of Soros Fund Management was right behind this move, as the fund dropped about $18 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 7 funds in Q4.
Insider trading activity in Kinross Gold Corporation (USA) (NYSE:KGC)
Bullish insider trading is best served when the company in question has seen transactions within the past six months. Over the last 180-day time frame, Kinross Gold Corporation (USA) (NYSE:KGC) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the returns exhibited by our tactics, retail investors should always pay attention to hedge fund and insider trading sentiment, and Kinross Gold Corporation (USA) (NYSE:KGC) is no exception.
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