Ten small-cap stocks feasted early on Wednesday, soaring by as much as double digits before the Thanksgiving holiday.
The stocks mirrored a broader market optimism, with the three main indices on Wall Street finishing in the green.
To recall, the Nasdaq was up by 0.82 percent, the S&P 500 grew by 0.69 percent, while the Dow Jones increased by 0.67 percent.
In this article, we spotlight the 10 top-performing small-cap companies on Wednesday and detail the reasons behind their gains.
To come up with the list, we considered the stocks with a market capitalization between $300 million and $2 billion, and at least 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. New Fortress Energy Inc. (NASDAQ:NFE)
New Fortress grew its share prices by 8.93 percent on Wednesday to close at $1.22 apiece after receiving a credit rating upgrade from S&P Global.
In a report on Tuesday, S&P Global said it raised its credit rating for New Fortress Energy Inc. (NASDAQ:NFE) to “CCC-“ from Selective Default (SD) previously.
A CCC credit rating is one of the lowest credit ratings from S&P Global, suggesting that a company is currently vulnerable and dependent on favorable business, financial, and economic conditions to meet financial commitments.
In the event of adverse business, financial, or economic conditions, a CCC-graded borrower is not likely to have the capacity to meet its financial commitments on the obligation.
However, the CCC grade was a significant upgrade from New Fortress Energy Inc.’s (NASDAQ:NFE) previous rating of SD, which classifies a borrower selectively defaulted on a specific issue or class of obligations, but it will continue to meet its payment obligations on other issues or classes of obligations in a timely manner.
A rating on a borrower is lowered to SD if the company is conducting a distressed debt restructuring.
In addition to the credit rating, S&P Global also lowered its issue-level rating on New Fortress Energy Inc.’s (NASDAQ:NFE) senior secured term loan B to “CCC-“ from “CCC” previously; as well as its 2026 and 2029 notes to “CC” from “CCC-.”
9. Taseko Mines Ltd. (NYSEAmerican:TGB)
Taseko extended its winning streak to a third straight day on Wednesday to reach a new nine-year high as investors resumed taking path from an investment firm’s optimistic forecast for copper.
At intra-day trading, the stock soared to its highest price of $5.13 before trimming gains to finish the day just up by 10.77 percent at $5.04 apiece.
This followed UBS’ report last Friday that it expects copper prices for the next quarters of 2026 to hit $11,500 per ton in March; increase to $12,000 in June; and further to $12,500 and $13,000 in September and December, respectively.
According to UBS, the forecast took into account the persistent supply risks and lower inventories that are expected to keep conditions tight.
UBS also expected a deficit in both 2025 and 2026, reaching 230,000 and 407,000 tons, respectively, amid slower output from Freeport McMoran’s Grasberg mine—one of the largest copper producers in the world.
In other developments, Taseko Mines Ltd. (NYSEAmerican:TGB) confirmed last Friday an accident at its Gibraltar mine in British Columbia, Canada last Friday which claimed the life of one contract worker.
“We are saddened to report the loss of a valued colleague at Gibraltar, and offer our deepest condolences to affected family, co-workers and friends. Our primary concern is the health, safety and well-being of our employees. Accordingly, we have halted all activity at Gibraltar until the accident has been fully investigated, and will make counselling and support services available to Gibraltar employees affected by this tragic event,” Taseko Mines Ltd. (NYSEAmerican:TGB) Vice President of Corporate Affairs Sean Magee said.
Hedge Fund Resource Center