The stock market finished the trading week on a positive note, wiping out earlier losses on Friday, as investors weighed the escalating trade tensions between the US and China.
Having been battered this week, Wall Street’s major indices all finished in the green, led by the Nasdaq, up 2.06 percent, followed by the S&P 500 with 1.81 percent, and the Dow Jones with 1.56 percent.
Ten companies, predominantly under the mining and biopharmaceutical sectors, mimicked gains on the back of fresh industry catalysts that boosted buying appetite. In this article, let us explore Friday’s top performers and 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.
Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels
10. Newmont Corp. (NYSE:NEM)
Shares in Newmont Corp. grew 7.91 percent on Friday to close at $54.97 apiece as investors hunted for bargains in gold mining stocks amid higher spot prices.
As of 4:22 PM EDT on Friday, spot prices of gold were at a new all-time high of $3,233.96 per ounce, representing a 1.82-percent increase from the previous day.
Friday also marked NEM’s fifth consecutive day of rally as investors took shelter from gold assets amid the heightening trade tensions between the United States and China.
In separate news, investment bank UBS gave NEM a rating upgrade to Buy from Neutral and a higher price target of $60 versus $50 previously. The new price represented a 9-percent upside from NEM’s closing price on Friday.
NEM is a US-based gold miner that owns various mining sites across the US, Canada, Mexico, Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname.
9. STMicroelectronics NV (NYSE:STM)
STMicroelectronics grew its share prices by 8.03 percent on Friday to finish at $20.45 apiece as investors cheered news that French Industry Minister Marc Ferracci backed the company’s chief executive officer amid allegations of insider trading.
In a post on social media platform X, Ferracci offered his full support to STM CEO Jean-Marc Chery after accusations made by Italian Economy Minister Giancarlo Giorgetti that Chery sold shares in STM a day before reporting the company’s negative results, adding that the CEO does not have the support of the Italian government.
In a statement on Thursday, STM clarified that Chery’s sales during the company’s blackout period prior to the results were made by its stock plan administrator through an automatic procedure.
Despite the claims, STM confirmed earlier this week that its planned investments at new facilities in Agrate and Catania were on track. The Agrate site is expected to double its production capacity by 2027.
8. AngloGold Ashanti Plc (NYSE:AU)
AngloGold shares rallied for a third straight day on Friday, adding 10.14 percent to finish at $42.79 apiece, in line with gold prices hitting a new record high.
As of 4:22 PM EDT on Friday, spot prices of gold were at a new all-time high of $3,233.96 per ounce, or a 1.82-percent increase from the previous day, as funds flocked to gold amid the ongoing trade tensions between the US and China.
AU is a global gold mining company with a diverse, high-quality portfolio of operations, projects, and exploration activities in 11 countries.
Its portfolio includes operations in Argentina, Australia, Brazil, the Democratic Republic of the Congo (DRC), Egypt, Ghana, Guinea, and Tanzania, as well as greenfield projects in Colombia, Côte d’Ivoire and the US.
It also conducts greenfield exploration activities in Argentina, Australia, Brazil, Côte d’Ivoire, Egypt, Tanzania, and the US.
7. Strategy Inc. (NASDAQ:MSTR)
Strategy Inc., formerly MicroStrategy, increased by 10.15 percent on Friday to end at $299.98 each, in line with investor optimism in the stock and cryptocurrency markets, both finishing in the green territory during the session.
As of this writing, the price of Bitcoin was up by 5.32 percent at $83,826.15 after the White House announced that it was reviewing 15 trade deal offers from countries that submitted counterproposals with the US government.
The rally in MSTR shares can likewise be attributed to bargain-hunting following Thursday’s decline after the company paused purchasing Bitcoins in the first week of the month, earlier sparking concerns amid the company’s usual aggressive stance on Bitcoin acquisition.
Last week, MSTR received a Buy rating from TD Cowen and a price target of $550, an 83-percent upside from its latest closing price.
According to TD Cowen, the upgrade was based on optimism for MSTR’s $722.5-million fixed-income offer that could bolster its acquisition of more Bitcoins.
6. XPeng Inc. (NYSE:XPEV)
XPeng Inc. rallied for a third straight day on Friday, adding 11.30 percent to close at $20 each as investor optimism was fueled by its recent expansion into Europe, defying global trade uncertainties.
Earlier this week, XPEV officially entered the Polish market on Monday where it introduced three of its cutting-edge electric vehicles: the flagship G9 SUV, the ultra-intelligent G6 coupe SUV, and the sleek P7 sedan-each of which has earned the prestigious Euro NCAP 5-star safety rating.
It also unveiled the futuristic eVTOL XPENG X2, signaling a bold new chapter in AI-driven mobility that spans from smart EVs to flying cars.
Poland followed XPEV’s expansion into Finland last month with the launch of its G6 and G9 SUVs.
Meanwhile, the company also confirmed that it would launch its G7 models in Australia in 2026 and will undercut the Tesla Model Y in terms of pricing.
XPEV’s recent expansion forms part of its plan to double down on the international market portfolio this year to 60 from last year’s 30.
“This year, we will increase to 60 and will have established more than 300 after-sales service points worldwide,” said XPEV CEO He Xiaopeng.
5. Kingsoft Cloud Holdings Limited (NASDAQ:KC)
Kingsoft Cloud shares jumped by 12.41 percent on Friday to end at $14.22 apiece as Chinese stocks regained momentum after the Chinese government clapped back at the US, levying as much as 125 percent taxes on US goods.
The news became a boost to Chinese firms, including KC, as the response signaled that Beijing was willing to defend its economic interest and that local firms might get more support or backing from the government.
KC, a leading cloud service provider in China, reported a strong earnings performance last year.
In the fourth quarter of 2024 alone, net loss attributable to the company narrowed by 31 percent to RMB196.96 million from RMB284.15 million in the same period a year earlier, while net loss in full-year 2024 dropped by 9.65 percent to RMB1.966 billion from RMB2.176 billion in 2023.
4. Sibanye Stillwater Ltd. (NYSE:SBSW)
Sibanye shares jumped by 12.6 percent on Friday, the third consecutive day, as investors hunted for bargains in gold mining stocks to seek haven from the ongoing economic uncertainties.
As of 4:22 PM EDT on Friday, spot prices of gold were at a new all-time high of $3,233.96 per ounce, representing a 1.82-percent increase from the previous day.
SBSW is a diversified mining company that mines gold, lithium, nickel, copper, zinc, and platinum group metals.
In South Africa, it operates underground mines and surface treatment facilities at Beatrix, Driefontein, and Kloof.
It also holds a controlling stake in DRDGOLD Ltd., which operates surface tailings retreatment facilities on the West Rand through the Far West Gold Recoveries operation, and on the East Rand through its wholly-owned Ergo Mining subsidiary.
3. Summit Therapeutics Inc. (NASDAQ:SMMT)
Summit Therapeutics jumped for a third straight day on Friday, adding 15.33 percent to end at $23.24 apiece as investors cheered two investment firms’ positive ratings 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.
Meanwhile, Truist Securities also gave the company a Buy rating and a price target of $35, representing a 50.6-percent upside from SMMT’s latest closing price.
SMMT is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of medicinal therapies.
2. Certara Inc. (NASDAQ:CERT)
Certara Inc. surged by 22.84 percent on Friday, a third straight day, as investors bought up on its recent release of a new version of the Simcyp Simulator to support physiologically-based pharmacokinetic (PBPK) modeling, which can forecast the behavior of drugs in various body tissues.
According to CERT, the latest version would strengthen its position as a leader in the PBPK modeling in drug development and regulatory decision-making.
In the fourth quarter of 2024, CERT swung to a net income of $6.6 million from a net loss of $12.5 million in the same period a year earlier. Revenues increased by 14 percent to $100.4 million from $88 million year-on-year.
For this year, CERT expects revenues to settle between $415 million and $425 million as well as earnings per share of $0.42 to $0.46 each.
Certara accelerates medicines using proprietary biosimulation software, technology, and services to transform traditional drug discovery and development. Its clients include more than 2,400 biopharmaceutical companies, academic institutions, and regulatory agencies across 70 countries.
1. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)
Recursion Pharmaceuticals soared by 27.72 percent on Friday to finish at $5.76 apiece as investors gobbled up shares in the company following the Food and Drug Administration’s (FDA) decision to replace the use of animals in testing drugs with Artificial Intelligence.
RXRX is a clinical-stage biotechnology company that uses AI in its discovery and development processes. It was also one of the companies that received the backing of technology giant Nvidia Corp.
According to the FDA, the initiative was designed to replace animal testing with “more effective human-relevant methods” in the development of monoclonal antibody therapies and other drugs.
The move was not only expected to improve drug safety and expedite the evaluation process, but it could also result in lower research and development costs, thereby reducing drug prices for the end consumers.
According to the FDA, it will begin to encourage the inclusion of New Approach Methodologies (NAMs) data in investigational new drug applications.
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