Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK) investors should be aware of a decrease in activity from the world’s largest hedge funds lately.
At the moment, there are tons of methods market participants can use to track their holdings. A pair of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can trounce the broader indices by a very impressive amount (see just how much).
Equally as beneficial, bullish insider trading activity is a second way to break down the investments you’re interested in. Obviously, there are a variety of stimuli for a bullish insider to sell shares of his or her company, but only one, very simple reason why they would initiate a purchase. Various academic studies have demonstrated the market-beating potential of this tactic if piggybackers know where to look (learn more here).
Consequently, we’re going to take a gander at the latest action surrounding Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK).
Hedge fund activity in Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK)
At year’s end, a total of 11 of the hedge funds we track held long positions in this stock, a change of 0% from the previous quarter. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their stakes considerably.
According to our comprehensive database, Peter Franklin Palmedo’s Sun Valley Gold had the largest position in Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK), worth close to $19.9 million, comprising 1% of its total 13F portfolio. On Sun Valley Gold’s heels is Renaissance Technologies, managed by Jim Simons, which held a $16.7 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Jean-Marie Eveillard’s First Eagle Investment Management, Eric Sprott’s Sprott Asset Management and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.
Due to the fact that Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK) has witnessed falling interest from the entirety of the hedge funds we track, we can see that there lies a certain “tier” of hedge funds that decided to sell off their positions entirely in Q4. Interestingly, Sander Gerber’s Hudson Bay Capital Management sold off the biggest position of all the hedgies we monitor, worth close to $0.1 million in call options. Ken Griffin’s fund, Citadel Investment Group, also sold off its call options., about $0.1 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How have insiders been trading Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK)?
Insider buying is at its handiest when the company in question has experienced transactions within the past half-year. Over the last 180-day time period, Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Aurizon Mines Ltd. (USA) (NYSEAMEX:AZK). These stocks are Gold Resource Corporation (NYSEAMEX:GORO), Nevsun Resources (USA) (NYSEAMEX:NSU), and Rubicon Minerals Corp. (USA) (NYSEAMEX:RBY). All of these stocks are in the gold industry and their market caps are similar to AZK’s market cap.