Investors sold off positions on Thursday, sending the stock market tumbling anew following President Donald Trump’s announcement that he had actually raised tariffs on Chinese goods by 145 percent since taking office.
Among all major indices, the Nasdaq was battered the most, losing 4.31 percent. The S&P 500 followed with a 3.46-percent drop while the Dow Jones came in last, down 2.50 percent.
Meanwhile, 10 companies bucked a broader market decline, registering modest gains during the session.
In this article, we have listed Thursday’s 10 best performers and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume.
A person with stock market data on a laptop. Photo by Anna Nekrashevich on Pexels
10. Kinross Gold Corp. (NYSE:KGC)
Shares of Kinross Gold rose for a second day on Thursday, adding 5.15 percent to end at $13.69 apiece as the company benefitted from higher gold prices that were touted as investors’ safe haven amid ongoing market uncertainties.
Thursday’s increase marked KGC’s second consecutive day of gains, bucking a broader market pessimism.
Spot prices of gold ended 0.35 percent higher on Thursday at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
In other news, KGC earned a positive rating from Moody’s Research, having been assigned a Baa3 rating, thanks to the gold miner’s efforts in lowering its debt level and maintaining an annual production of approximately 2 million ounces.
In full year 2024, KGC saw its net income surge by 127.9 percent to $948.8 million from $416.3 million in the previous year. Sales, on the other hand, jumped 21 percent to $5.1 billion from $4.2 billion.
Kinross Gold Corporation (NYSE:KGC) is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada.
9. Li Auto Inc. (NASDAQ:LI)
Li Auto saw its share prices grow by 5.25 percent on Thursday to finish at $22.25 each as investors cheered news that it officially expanded into Southeast Asia with its entry into the Philippines.
Initially, LI began distributing the Li L7, a five-seater luxury midsize crossover, and the Li L9, a six-seater full-size flagship sports utility vehicle. It also signaled the possible arrival of a third and larger model—the Li Mega.
LI tapped HomeAuto Inc. as its official distributor in the Philippines.
“We are thrilled to introduce Li Auto’s innovative smart electric vehicles to the Philippines,” said Stone Yu, CEO of HomeAuto Inc. “The local market presents a significant opportunity for us with its increasing awareness of electric vehicles and growing interest in modern technology. Filipinos’ strong family values align perfectly with our vision, so we are confident that they will appreciate the unique blend of luxury and technology that Li Auto offers.”
8. Alamos Gold Inc. (NYSE:AGI)
Alamos Gold grew its share prices by 5.39 percent on Thursday to finish at $27.97 apiece as investor funds flocked to gold mining companies as their safe haven amid the ongoing trade tensions between the US and China.
On the same day, spot prices of gold finished 0.35 percent higher at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
In earlier news, Bank of America lowered its price target for AGI to $30.50 from $31 previously while assigning the firm a Neutral rating.
Last week, AGI also signed a binding agreement with Q-Gold Resources for the sale of its non-core Quartz Mountain Gold Project in Oregon for $21 million and a 9.9 percent equity interest in Q-Gold.
“The sale of Quartz Mountain is consistent with our strategy of monetizing non-core assets as we develop our portfolio of high-return growth projects including the Phase 3+ Expansion at Island Gold, Lynn Lake, and PDA,” said AGI President and CEO John McCluskey.
7. Agnico Eagle Mines Ltd. (NYSE:AEM)
Agnico Eagle extended its winning streak for a fourth straight day on Thursday, adding 5.43 percent to finish at $111.55 apiece in line with its counterparts and higher gold prices.
With the ongoing trade tensions globally, investors found safety in gold and mining firms resulting in the rally of gold mining stocks.
On the same day, spot prices of gold finished 0.35 percent higher at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
Additionally, AEM earned a bullish outlook from former hedge fund manager Jim Cramer, who is also the host of the Mad Money show on CNBC.
In his show, Cramer mentioned multiple times how he likes AEM’s stock.
“I like Agnico Eagle…one of the more gold-oriented companies,” he was quoted as saying.
AEM is a Canada-based gold miner and the third largest gold producer in the world. It currently has operations in Canada, Australia, Finland and Mexico.
6. B2Gold Corp. (NYSEAMERICAN:BTG)
B2Gold rallied for a third straight day on Thursday, ending 5.52 percent higher at $3.06 apiece as investor funds flocked to gold mining companies amid higher gold prices.
On Thursday, the spot prices of gold finished 0.35 percent higher at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
In recent news, BTG said it was nearing the completion of its Goose Mine in Nunavut, Canada.
Slated for completion in June 2025, BTG said it expects to ramp up commercial production as soon as the third quarter of the year.
The Goose Mine is expected to produce 120,000 and 150,000 ounces of gold between this year and 2026. From next year through 2031, annual production is targeted to expand to 310,000 ounces.
5. IAMGOLD Corporation (NYSE:IAG)
IAMGOLD Corp. extended its rally for a fourth consecutive day on Thursday, adding 5.68 percent to end at $6.88 apiece amid higher gold prices and with investor funds flocking to gold assets for safety from the ongoing market uncertainties.
On Thursday, gold saw spot prices rise by 0.35 percent to end at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
In recent news, IAG said that it would release its first-quarter earnings performance on May 6.
IAG is a leading gold producer with assets across Canada and West Africa. The company fully owns the Westwood project in Quebec, holds a 60 percent stake in the Côté Gold project in Ontario, and controls 90 percent of Essakane in Burkina Faso.
For this year, it targets gold production to hit between 735,000 and 820,000 ounces, focusing on maximizing Côté Gold’s potential.
4. Agilon Health Inc. (NYSE:AGL)
Agilon Health jumped by 6.18 percent on Thursday to end at $5.50 apiece as investors resumed bargain-hunting following earning a rating upgrade earlier this week.
On Tuesday, Bernstein upgraded its outlook for AGL to Outperform from Market Perform previously, and gave the company a price target of $8.50, up from the $3.30 previously. The new target represented a 59-percent upside from AGL’s latest closing price.
“Our upgrade reflects our improved confidence in AGL’s turnaround plan and cash position,” Bernstein said. “Since then, we have received several data points that increase our confidence in the turnaround plan, thus lowering the risk of a capital rise.”
The upgrade also took into account earlier announcements that the US government would bolster its Medicare Advantage payments next year, which is more than double what it proposed in January.
According to Bernstein, AGL is now expected to perform “better than expected.”
3. Gold Fields Ltd. (NYSE:GFI)
Gold Fields jumped by 8.58 percent on Thursday to touch a new all-time high of $23.73 before finishing slightly lower at $23.40 each, in line with the higher prices of gold.
Additionally, the rally was pushed by investors seeking safety from the precious metal amid the escalating global trade war.
Spot prices of gold ended 0.35 percent higher on Thursday at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
Headquartered in Johannesburg, South Africa, GFI is one of the largest gold mining companies globally.
In recent news, it was rejected by Australia’s Gold Road Resources for its proposed $2.1 billion takeover bid. In response, Gold Road put forward a counterproposal to acquire GFI’s stake in the Gruyere mine at the same implied valuation as the rejected offer.
2. Summit Therapeutics Inc. (NASDAQ:SMMT)
Summit Therapeutics grew its share prices by 10.53 percent on Thursday after an investment firm reaffirmed its positive rating for the company.
On Thursday, Cantor Fitzgerald maintained its Overweight rating on SMMT following a move by the company’s co-CEO and chairman Bob Duggan to exercise warrants to acquire 4 million SMMT shares.
The transaction was executed nearly four years before the warrants expired at a strike price of $1.58 apiece.
In recent news, SMMT announced it would partner with pharmaceutical giant Pfizer Inc. (PFE) for the clinical trial of ivonescimab, a novel, investigational PD-1 / VEGF bispecific antibody, in combination with several of Pfizer’s antibody-drug conjugates (ADCs) across multiple solid tumor settings.
SMMT said the goal was to evaluate ivonescimab, in combination with several unique Pfizer ADCs across multiple solid tumor settings to accelerate the advancement of potentially landscape-changing combinations, which seek to improve the standards of care for patients facing serious unmet needs.
1. Harmony Gold Mining Company Ltd (NYSE:HMY)
Harmony Gold jumped by 10.55 percent on Thursday to finish at $16.24 each, in line with higher gold prices, as investors sought safety from safer assets like gold miners.
On Thursday, gold saw spot prices rise by 0.35 percent to end at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.
In recent news, Bank of America raised its average gold price targets for this year and the next to $3,063 per ounce this year and $3,350 per ounce in 2026.
The new figures were markedly up from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.
The upgraded outlook spilled over into gold mining firms such as HMY.
Earlier this year, the company that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.
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