Gold Surge Spells Good Things for Soros, Dalio

Gold Surge Spells Good Things for Soros, Dalio

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).

Sign up for our free daily newsletter

Gates Capital Management Reduces Risk After Rare Down Year [Exclusive]

Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for 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.

Uniqure NV tumbled -13.98%, coming back down after yesterday’s +10% gain. The biotech company has been in the Farallon Capital portfolio since the first 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).


No posts to display