Why Are These Five Stocks on the Move Today?

Kinross Gold Rallies on Gold Prices

Kinross Gold Corporation (USA) (NYSE:KGC)’s stock has rallied on the back of rising gold spot prices today. Gold futures are up more than 2% and above the key $1,300 level due to fears that a Brexit could cause an unexpected black swan event that lowers economic activity around the world. Gold prices also received support yesterday after the U.S. Federal Reserve decided to keep interest rates unchanged. Kinross Gold’s future prospects are better if gold prices are higher. A total of 28 funds from our database owned shares of Kinross Gold Corporation (USA) (NYSE:KGC) at the end of March, up by six funds from the previous quarter.

UQM Forms an Alliance 

Nano-cap UQM Technologies Inc (NYSEMKT:UQM) is trading higher after the company announced an alliance/supply deal with Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). According to a press release, the company has officially begun a development and production program with Eaton’s vehicle Group and Pi Innovo. The partnership calls for Eaton to develop and supply to UQM a 2-speed transmission for an EV application. CEO Joe Mitchell said, ‘We are excited to have chosen Eaton and Pi Innovo as suppliers for our system. Based on proven performance and expertise of the two suppliers, we believe that our “UQM PowerPhaseDT” system will surpass the requirements and expectations of our customers’. Three funds tracked by us were long UQM Technologies Inc (NYSEMKT:UQM) at the end of March, up by two funds from the previous quarter, while 36 investors owned shares of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). 

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