Today’s midday gainers are Randgold Res Ltd. (NASDAQ:GOLD), Agnico-Eagle Mines Ltd (NYSE:AEM) and Ryanair Holdings Plc (NASDAQ:RYAAY). The midday losers are United Online (NASDAQ:UNTD), Yume Inc (NASDAQ:YUME) and Textura Corp (NYSE:TXTR).
Mining picks paying off for Paulson, Dalio
Up +5.12% midday today, Randgold Resources is starting off the week strong. Earlier today, Randgold reported an annual production increase of +15% in 2013. Although revenues fell overall (a consequence of the declining price of gold), investors shrugged at the news and apparently continue to bet on the gold mining giant. They’re likely also encouraged by the arrival of new CEO Christopher Coleman. Both John Paulson and Ray Dalio have stakes in the Randgold, accounting for 0.31% and 0.03% of their respective portfolios.
ValueWalk's Raul Panganiban interviews Kirk Du Plessis, Founder and CEO of Option Alpha, and discuss Option Alpha and his general approach to investing. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with Option Alpha's Kirk Du Plessis
Following Randgold is Agnico-Eagle Mines Limited, owner of large gold, silver, copper, zinc and lead mines in Canada, Finland, Mexico, the U.S. and South America. The stock is up +3.60% and is also part of the holdings of both Paulson and Dalio, who seem to have a good eye when it comes to mining giants. Their allocations represent 0.17% and 0.02% of their funds.
Coming in third as one of the day’s midday gainers is Ryanair Holdings, up +3.46%. With 132,000 shares (0.94% of his portfolio) as of November, Julian Robertson has a stake in this one. What makes Ryanair’s surge surprising is that it comes on the heels of the announcement of Q3 losses amounting to €35 million. Executives attributed this to airfare prices and reaffirmed its full-year forecast of €500-520 million.
United Online takes a dive
Though Robertson is up with Ryanair, he took a hit from United Online, the stock price of which dipped -9.58%. The small-cap internet-services provider is losing its CFO and onboarding Gail Shulman as EVP and General Counsel – potential causes of unease among investors?
Two of George Soros’ picks take second and third place on our list of midday losers this Monday. Yume Inc. is down -8.1%, and Textura Inc. -7.76%, with Soros having 0.05% of his portfolio in the former and 0.01% in the latter. This is the second consecutive trading day in which Textura is featured in our midday losers, with Friday’s loss being even larger at -10.61%.
So what seems to be the problem? In Yume’s case, there are two issues at play. First, its response to competitors, and second, questions over the company’s programmatic purchase solutions. Textura, on the other hand, has faced a slew of roadblocks, the latest being an investigation on behalf of investors that is being conducted by Pomerantz LLP. The details of the claims haven’t yet been disclosed.