Is Yamana Gold Inc. (USA) (AUY) Going to Burn These Hedge Funds?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. At the top of the heap, Ken Griffin’s Citadel Investment Group sold off the largest position of the 700 funds studied by Insider Monkey, valued at close to $5.1 million in stock. Louis Bacon’s fund, Moore Global Investments, also said goodbye to its stock, about $5 million worth.

Let’s now review hedge fund activity in other stocks similar to Yamana Gold Inc. (USA) (NYSE:AUY). We will take a look at East West Bancorp, Inc. (NASDAQ:EWBC), Starwood Property Trust, Inc. (NYSE:STWD), American Greetings Corporation (NYSE:AM), and NewMarket Corporation (NYSE:NEU). All of these stocks’ market caps are closest to AUY’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
EWBC 21 287737 -1
STWD 21 416130 0
AM 5 13251 2
NEU 14 103518 3

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $205 million. That figure was $225 million in AUY’s case. East West Bancorp, Inc. (NASDAQ:EWBC) is the most popular stock in this table. On the other hand American Greetings Corporation (NYSE:AM) is the least popular one with only 5 bullish hedge fund positions. Yamana Gold Inc. (USA) (NYSE:AUY) 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 EWBC might be a better candidate to consider taking a long position in.

Disclosure: None