Surging Gold & Silver Help Coeur Mining
Shares of Coeur Mining Inc (NYSE:CDE) are trading up roughly 8.5% on Friday afternoon, accompanying the surges in gold and silver prices, which are up slightly today. Also helping the shares escalate was an upgrade from BMO Capital, which now rates them an Outperform case, up from a previous rating of Market Perform, arguing that the spike in gold and silver prices should go on over the medium term. A total of 14 funds among those we track were long Coeur Mining Inc (NYSE:CDE) at the end of the fourth quarter. During the first quarter of 2016, GMT Capital acquired a new stake of 5.27 million shares of the company; the stake was valued at almost $30 million by March 31.
Kohl’s Rebounds On Strong April Sales Data
For its part, Kohl’s Corporation (NYSE:KSS) is recuperating some of the ground lost on Thursday, trading almost 4% in the green on Friday afternoon. Even though first-quarter results announced on Thursday were quite disappointing, April retail sales data released on Friday helped the stock rebound. So, what’s changed? Well, the poor corporate results suggested U.S. consumers were not spending much; however, this is not exactly the case. It is not that people are not consuming, but that their spending has been reallocated, away from traditional department stores, and into non-store retailers, which saw sales rise by 8.1% in April. Moreover, retail sales as a whole appreciated by 1.3% in April, the Commerce Department report assured. Among the funds that we track, 22 were long Kohl’s Corporation (NYSE:KSS) by the end of the fourth quarter of 2015. During the first quarter of 2016, Michael Messner’s Seminole Management joined this list, with a new stake comprising 180,589 shares of the company.
Celldex Rises Along With Other Healthcare Stocks
Finally, there’s Celldex Therapeutics, Inc. (NASDAQ:CLDX), which has advanced by 6.65% on Friday, accompanying a wider surge in healthcare stocks, and recuperating some of the ground lost (11.73%) between Tuesday and Thursday. The shares also seemed to be helped by the release of the company’s income statement the full year of 2015. Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw nine hedge funds from our database holding shares at the end of 2015. During the first quarter of 2016, First Eagle Investment Management boosted its exposure by 9% to 629,542 shares of the company, becoming the largest hedge fund shareholder of record to date.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.