Penn Virginia Surges +11% Midday, Continuing 2014 Rally


Today’s midday gainers are Penn Virginia Corporation (NYSE:PVA), Novacopper Inc (NYSEMKT:NCQ) and Yandex NV (NASDAQ:YNDX). The midday losers are Towerstream Corporation (NASDAQ:TWER), International Tower Hill Mines Ltd (NYSEMKT:THM) and NovaGold Resources Inc. (NYSEMKT:NG).

Penn Virginia Surges

This Tuesday’s top midday gainer is oil and gas company Penn Virginia Corporation (NYSE:PVA), up +11.83%. The firm got a new target price of $25.00 yesterday and has surged +64.16% this year. George Soros owns a stake in Penn Virginia.

Investors Flock To Hedge Funds As Markets Recover

Hedge FundsAccording to a recent Credit Suisse survey, investors are more interested in hedge funds than any other major asset class going into the second half of the year. Q1 2020 hedge fund letters, conferences and more This is a big switch from investor sentiment in the first half of 2020. Indeed, hedge fund launches slowed Read More

Second is Novacopper Inc (NYSEMKT:NCQ), a base metals exploration company. Its price increased +9.09%, a boost for Seth Klarman and John Paulson.

Last on today’s list of midday gainers is Russian internet company Yandex NV (NASDAQ:YNDX), up +8.93%. Nevertheless, the Tiger Global pick is still down -25.6% YTD.

Paulson Gold Picks Take a Dive

Topping off today’s midday loser list is Towerstream Corporation (NASDAQ:TWER), down -6.9%. A broadband services provider for commercial customers, Towerstream reported extended losses yesterday from the previous quarter. The stock has declined -18.24% this year.

Two Paulson picks – gold explorers International Tower Hill Mines Ltd (NYSEMKT:THM) and NovaGold Resources Inc. (NYSEMKT:NG) – also had a rough start to the day. THM fell -5.83% after yesterday’s rally, and NG slipped -4.91%.