Ten stocks kicked off the shortened trading week posting whopping gains, outperforming a lackluster performance on the broader market, as investors took path from positive developments in their respective industries as well as positioning ahead of earnings results. Of the 10 stocks, eight companies climbed to new record highs.
Meanwhile, all Wall Street indices finished in a bloodbath, with the Nasdaq leading losses by 2.39 percent, followed by the S&P 500, declining 2.06 percent, and the Dow Jones down 1.76 percent. The drop was primarily triggered by tariff uncertainties, with President Donald Trump keen on slapping fresh tariffs on eight European countries.
Indices aside, this article focuses on the key factors of the 10 top-performers’ impressive gains during the day.
To come up with the list, we focused exclusively on stocks with a $2 billion market capitalization and 5 million shares in trading volume.
Photo by Tima Miroshnichenko on Pexels
10. Sandisk Corp. (NASDAQ:SNDK)
Sandisk extended its winning streak to a third straight day on Tuesday to hit a new all-time high, as investors took path from an investment firm’s 75 percent price target upgrade for its stock, while loading portfolios ahead of next week’s earnings release.
At intra-day trading, Sandisk Corp. (NASDAQ:SNDK) soared to its highest price of $457.37 before trimming gains to finish the day just up by 9.55 percent at $453.12 apiece.
In a market report, Citi raised its price target for the stock to $490 from $280 previously, marking an 8 percent upside potential from its latest closing price. It also maintained a “buy” recommendation.
Citi’s coverage followed five other analyst reports last week, four of which upgraded their price targets, while only two issued “buy” and “outperform” ratings.
Among the analysts, Bernstein became the most bullish, having raised its price target by 93 percent to $580 from $300, while reaffirming its “outperform” rating.
Benchmark followed with a 73 percent upgrade to $450 from $260, maintaining its “buy” recommendation.
Meanwhile, RBC initiated coverage on the stock with a $400 price target and a “sector perform” rating; while Barclays and Wells Fargo issued 75 and 65 percent higher price targets of $385 and $380, respectively, both reaffirming “equal weight” ratings.
Sandisk Corp. (NASDAQ:SNDK) is scheduled to announce the results of its earnings performance for the second quarter of fiscal year 2026 after market close on Thursday, January 29. A conference call will be held to discuss the results.
9. Hudbay Minerals Inc. (NYSE:HBM)
Hudbay Minerals soared to a new all-time high on Tuesday, mimicking the rally to fresh peaks in spot prices of silver and gold after investors set their sights on safer assets amid ongoing geopolitical tensions.
At intra-day trading, Hudbay Minerals Inc. (NYSE:HBM) jumped to its highest price of $24.74 before paring a few cents to end the day just up by 9.73 percent at $24.69 apiece.
The stock mirrored the industry’s overall rally as investor funds fled to precious assets like silver and gold, climbing to $95 and $4,700, respectively, after President Donald Trump over the weekend threatened to impose fresh tariffs on eight countries opposing its plan to take over Greenland.
Benchmark copper prices, which as of writing were up by 1.27 percent to $12,965.50 per metric ton, also contributed to the jump.
In other news, Hudbay Minerals Inc. (NYSE:HBM) is scheduled to announce the results of its earnings for the full-year and fourth quarter of 2025 on February 20, 2026. A conference call will be held to elaborate on the results.
The company had already issued preliminary production results for the full year and fourth quarter of 2025, where it achieved the production of 118,188 tons of copper, 267,934 ounces of gold, as well as 17,646 tons of zinc, 3.47 million ounces of silver, and 1,282 tons of molybdenum.
For the fourth quarter alone, Hudbay Minerals Inc. (NYSE:HBM) produced 33,069 tons of copper, 84,298 ounces of gold, 1 million ounces of silver, 5,703 tons of zinc, and 325 tons of molybdenum.
8. Equinox Gold Corp (NYSEAmerican:EQX)
Equinox Gold surged to a new all-time high on Tuesday, mirroring the overall rally in mining stocks as investors loaded portfolios in companies that would benefit from the ongoing silver and gold rush.
During the session, spot prices of gold surged to its highest level of $4,700 while silver climbed to $95, helping propel Equinox Gold Corp (NYSEAmerican:EQX) to its highest intra-day price of $15.66 before paring gains to finish the session just up by 9.83 percent at $15.64 apiece.
The rally was triggered by President Donald Trump’s threats over the weekend that eight European countries are set to be slapped with 10 percent higher tariffs beginning February 1 if they oppose the United States’ proposed takeover of Greenland.
Investor funds, on the other hand, sought safety in precious metals, which are typically unaffected during geopolitical tensions.
Meanwhile, the rally in Equinox Gold Corp (NYSEAmerican:EQX) was supported by strong preliminary production results for the full-year and fourth quarter of 2025, hitting a record of 922,827 ounces for the entire year and beating its earlier guidance of 50,000 to 915,000 ounces.
For the fourth quarter alone, the company was also able to produce 247,024 ounces, the bulk of which came from its Greenstone mine.
However, Equinox Gold Corp (NYSEAmerican:EQX) expects to scale down in 2026, projecting only 700,000 and 800,000 ounces of consolidated gold production.
The company is scheduled to release the results of its financial and operating highlights for last year after market close on February 18, 2026.
7. Lumentum Holdings Inc. (NASDAQ:LITE)
Lumentum saw its share prices jump by 10.05 percent on Tuesday to close at $356.83 apiece as investors loaded portfolios ahead of the results of its earnings performance for the past quarter.
According to the company, it is scheduled to announce its financial and operating highlights for the second quarter of 2026 after market close on Tuesday, February 3, 2026. A conference call will be held to discuss the results.
Earnings aside, Lumentum Holdings Inc. (NASDAQ:LITE) showcased its next-generation ultrafast and UV and 3D laser platforms—PicoBlade Core, NQ-series, and 3D Sensing VCSELs—at the ongoing three-day SPIE Photonics West 2026 conference in San Francisco, California. The new products were designed to meet the growing precision, throughput, and reliability demands of advanced manufacturing and sensing applications.
According to Lumentum Holdings Inc. (NASDAQ:LITE), PicoBlade Core is an ultrafast laser platform capable of delivering up to 150 watts of average power with sub-12 picosecond pulses and integrated multi-wavelength output in a compact, unified design. It enables high-throughput, precision micromachining for printed circuit boards, battery cells, solar cells, and consumer electronics applications.
Meanwhile, the NQ-series delivers up to 500 µJ pulse energy of UV light at rates up to 60 kHz. It is designed for high-throughput micromachining and brings exceptional beam quality and reliability to address next-generation processing challenges.
Lastly, Lumentum Holdings Inc.’s (NASDAQ:LITE) 3D Sensing VCSEL offers a broad portfolio of solutions supporting 3D sensing across a wide range of industrial and consumer applications. Its scalable and high-volume manufacturing ensures consistent performance, high reliability, and power efficiency for use cases including depth sensing, object detection, and driver assistance systems.
6. BellRing Brands Inc. (NYSE:BRBR)
BellRing jumped by 12 percent on Tuesday to close at $26.78 apiece as investors loaded portfolios ahead of its upcoming earnings, supported by optimistic comments about the protein drink industry.
According to BellRing Brands Inc. (NYSE:BRBR), it is scheduled to announce the results of its earnings performance for the first quarter of fiscal year 2026 before market open on February 3, 2026. A conference call will be held to discuss the results.
In other developments, the rally was helped by Coca-Cola Chief Executive Officer James Quincey’s optimistic comments about the protein beverage industry, saying that the company is seeing a gradual transition towards protein beverages.
“It is still relatively early days in the consumption of GLP-1, but you definitely see a shift across food and beverages,” Quincey said in an interview with CNBC, suggesting that the market for protein-based products continues to expand.
The announcement spilled over to BellRing Brands Inc. (NYSE:BRBR), which owns ready-to-drink brand Premier Protein, and hydrolyzed protein powder, Dymatize.
Meanwhile, BellRing Brands Inc. (NYSE:BRBR) maintained a “buy” recommendation and a $30 price target from Barclays, marking a 12 percent upside potential from its latest closing price.
5. IAMGOLD Corporation (NYSE:IAG)
IAMGOLD soared to a new 14-year record on Tuesday, as investors took heart from gold’s surge to a new all-time high, a 17 percent price target upgrade, and preliminary 2025 earnings results.
At intra-day trading, IAMGOLD Corporation (NYSE:IAG) jumped to its highest price of $19.98 before trimming gains to end the day just up by 15.49 percent at $19.83 apiece. The last time it touched the said level was in November 2011 when it closed at $20.18.
IAMGOLD Corporation (NYSE:IAG) rallied alongside its mining counterparts after spot prices of gold broke past the $4,700 territory on the same day, attracting investor funds after President Donald Trump announced fresh 10 percent tariff threats on eight European countries opposing its planned takeover of Greenland.
Typically, geopolitical tensions, among other factors, spark higher prices of precious metals as investors deem them safe haven in mitigating risks.
The rally was helped by Bank of America’s (BofA) higher price target for its stock, at $20.50 versus $17.50 previously, with the new figure marking a 3 percent upside potential from its latest closing price. BofA also maintained its “buy” recommendation.
In other news, IAMGOLD Corporation (NYSE:IAG) on Monday said that it is projecting record revenues for full-year 2025 on the back of higher gold prices and production figures falling within expectations.
During the period, attributable gold production reached 765,900 ounces, thanks to strong production from its Essakane, Cote, and Westwood sites.
Official results are scheduled to be announced after market close on February 17, 2026.
4. United Microelectronics Corp. (NYSE:UMC)
United Microelectronics jumped to a new three-year high on Tuesday, as investors took heart from the successful development of a superflash memory capable of working reliably in extreme conditions.
At intra-day trading, the stock surged to its highest price of $10.93 before trimming gains to finish the session just up by 15.91 percent at $10.78 apiece.
In a statement, United Microelectronics Corp. (NYSE:UMC) said that it has completed, alongside Silicon Storage Technology (SST), the full qualification and release to production of the latter’s embedded SuperFlash Gen 4 (ESF4) with full automotive grade 1 (AG1) capability on UMC’s 28HPC+ foundry process platform.
United Microelectronics Corp. (NYSE:UMC) said that they developed the ESF4 in a bid to deliver enhanced embedded non-volatile memory (eNVM) performance and demonstrated reliability for automotive controllers while simultaneously significantly reducing the number of additional masking steps versus other foundries’ 28nm High-k/Metal-Gate Stack (HKMG) eFlash offerings.
Among the new product’s offerings include Automotive Electronics Council (AEC) Q-100 Grade 1 qualified for temperatures range of -40 to 150 degrees Celsius and reading access time of less than 12.5 nanoseconds, among others.
United Microelectronics Corp. (NYSE:UMC) encouraged customers currently manufacturing automotive controller products using foundry 40nm ESF3 AG1 platforms to upgrade to the UMC 28nm ESF4 AG1 platform.
3. Qiagen NV (NYSE:QGEN)
Qiagen soared to a four-year high on Tuesday, as investors loaded portfolios ahead of the results of its earnings performance in the full year and fourth quarter of 2025.
At intra-day trading, the stock jumped to its highest price of $57.81 before trimming a few cents to end the day just up by 16.57 percent at $55.45 apiece.
In a statement, Qiagen NV (NYSE:QGEN) said that it would release the results of its financial and operating highlights after market close on Wednesday, February 4. A conference call will be held before market open on Thursday, February 5, to discuss the results.
In its last earnings call last year, Qiagen NV (NYSE:QGEN) announced expectations of 4 to 5 percent growth in net sales for full-year 2025, including about 5 to 6 percent constant exchange rates (CER) growth in the core business, excluding revenues from discontinued products.
Based on what it deems a strong 2025, it is targeting to report adjusted diluted earnings per share of $2.38 CER, or a 9 percent CER growth from $2.18 in 2024.
Qiagen NV (NYSE:QGEN) noted that the outlook reflects continued macroeconomic challenges, including headwinds from import tariffs and the US government shutdown.
For the fourth quarter of 2025 alone, net sales are expected to remain steady at CER rates, compared to $521 million in the same period a year earlier.
Adjusted diluted EPS is expected to be at $0.60 CER compared to $0.61 in the same comparable period.
2. ImmunityBio Inc. (NASDAQ:IBRX)
ImmunityBio saw its share prices rally for a 12th consecutive day on Tuesday, reaching a fresh 52-week high, as investors took heart from developments in its supplemental biologics license application (BLA) for Anktiva combined with Bacillus Calmette-Guérin (BCG) in patients with BCG-unresponsive non-muscle invasive bladder cancer.
At intra-day trading, ImmunityBio Inc. (NASDAQ:IBRX) surged to a new record high of $7.98 before trimming gains to finish the day just up by 17.39 percent at $6.48 apiece.
In a statement on the same day, the company said that it sat down recently with the Food and Drug Administration to discuss the supplemental BLA, saying that it was told to submit additional information to support its resubmission. The information would be submitted within the next 30 days without the anticipation of a new clinical trial.
According to ImmunityBio Inc. (NASDAQ:IBRX), Anktiva, in combination with BCG, showed strong results, after registering disease-specific survival of approximately 96 percent at 36 months, with the median survival not yet reached even with five years of follow-up.
In other news, ImmunityBio Inc. (NASDAQ:IBRX) announced that it is set to begin selling Anktiva, in combination with an immune checkpoint inhibitor, for lung cancer patients in Saudi Arabia after securing the latter’s FDA approval. Lung cancer is one of the most prevalent cancer types in Saudi.
1. Hycroft Mining Holding Corp. (NASDAQ:HYMC)
Hycroft Mining soared to a new five-year peak on Tuesday, as investors gobbled up shares in mining companies after gold and silver soared to all-time highs.
At intra-day trading, Hycroft Mining Holding Corp. (NASDAQ:HYMC) surged to its highest price of $43 before trimming gains to end the session just up by 23.51 percent at $42.77 apiece after gold and silver prices broke past their highest levels of $4,700 and $95, respectively, during the day.
The rally was triggered by President Donald Trump’s announcement over the weekend that he would slap fresh 10 percent tariffs on eight European countries namely Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom beginning February 1, until a deal for “the Complete and Total purchase of Greenland,” bringing the total levy on the affected countries to 25 percent.
Investors flocked to safe-haven assets like gold and silver to mitigate risks, spilling over to mining firms, including Hycroft Mining Holding Corp. (NASDAQ:HYMC), which announced late last month that it had found the best grades of silver at its mining site in Nevada, with drilling exploration showing continuity of resources in all directions and at depth.
While we acknowledge the potential of HYMC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HYMC and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge fund investor letters by entering your email below.
Hedge Fund Resource Center