Allied Nevada Gold Corp. (NYSEMKT:ANV), Goldcorp Inc. (NYSE:GG) and Kinross Gold Corp. (NYSE:KGC) made notable gains this Thursday. Posting losses are Kite Pharma Inc. (NASDAQ:KITE), Uniqure NV (NASDAQ:QURE) and Seventy Seven Energy Inc. (NYSE:SSE).
Qualivian Investment Partners Up 30% YTD; Long ORLY Thesis
Qualivian Investment Partners commentary for the second quarter ended July 30, 2020. Q2 2020 hedge fund letters, conferences and more “Short-term investors will accept a 20% gain because they didn’t spend the time to develop the conviction and foresight to see the next 500%.” - Ian Cassell Executive Summary Readers of investment letters fall into Read More
Gold Stocks Surge
Allied Nevada Gold Corp., Goldcorp Inc. and Kinross Gold Corp. rallied today as gold rose to a four-month high.
Allied Nevada climbed +11.01%, to the benefit of billionaires shareholders John Paulson and George Soros. Goldcorp, another Soros pick, climbed +10.68%. It is also among the holdings of Ray Dalio’s Bridgewater Associates, which as of its most recent regulatory filing holds 734,000 GG shares. Kinross Gold gained +9.37% and is also a Bridgewater pick.
Kite Pharma Dips Back Down
The share price of Kite Pharma dipped -17.26%, though the stock is still up nearly +20% over the past week. At the start of the year, the firm reached an agreement with Amgen Inc. to collaborate on cancer immunotherapy treatments. Billionaire investor George Soros picked up a stake in Kite Pharma during the third quarter of 2014.
Chesapeake Energy spinoff Seventy Seven Energy reached market close down -12.45% for the day. In his most recent 13F filing, Carl Icahn disclosed a position in the energy company (the result of his Chesapeake stake).