Is It Time to Get Out of Alamos Gold Inc (USA) (AGI)?

Since Alamos Gold Inc (USA) (NYSE:AGI) has witnessed a decline in interest from the entirety of the hedge funds we track, it’s easy to see that there exists a select few hedge funds that slashed their entire stakes last quarter. Interestingly, Jacob Gottlieb’s Visium Asset Management dumped the biggest investment of the “upper crust” of funds followed by Insider Monkey, totaling an estimated $4 million in stock. Brian Ashford-Russell and Tim Woolley’s fund, Polar Capital, also dumped its stock, about $2.7 million worth.

Let’s now review hedge fund activity in other stocks similar to Alamos Gold Inc (USA) (NYSE:AGI). These stocks are Barnes Group Inc. (NYSE:B), Puma Biotechnology Inc (NYSE:PBYI), Mine Safety Appliances (NYSE:MSA), and Allegiant Travel Company (NASDAQ:ALGT). This group of stocks’ market values are similar to AGI’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
B 17 33534 1
PBYI 24 793828 9
MSA 10 18371 1
ALGT 21 225333 3

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 $268 million. That figure was $120 million in AGI’s case. Puma Biotechnology Inc (NYSE:PBYI) is the most popular stock in this table. On the other hand Mine Safety Appliances (NYSE:MSA) is the least popular one with only 10 bullish hedge fund positions. Alamos Gold Inc (USA) (NYSE:AGI) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PBYI might be a better candidate to consider taking a long position in.

Disclosure: None