These 10 Stocks Blew Past Expectations

Ten stocks kicked off the first trading day of the month, clocking in double-digit gains, thanks to a flurry of positive developments, including billion-dollar partnerships and buy recommendations from the most trusted investment companies, among other catalysts.

In this article, we have listed down the names of the top-performing stocks on Monday that significantly outperformed Wall Street’s major indices, so you can decide whether it is now time to book profits or double down on your investments.

To come up with the list, we only focused on the mid-cap stocks—companies with a $2 billion market capitalization and 5 million daily trading volume.

10. Nucor Corp. (NYSE:NUE)

Nucor Corp. rallied by 10.10 percent on Monday to close at $120.40 apiece as investors snapped up shares following President Donald Trump’s slapping of a 50-percent tariff on all steel and aluminum imports.

On Friday, Trump said the new levies will take effect tomorrow, June 4, hours after accusing China of violating an agreement with the US to mutually reduce levies and trade restrictions for critical minerals.

The US Midwest duty-paid aluminum premium AUPc1 surged by 54 percent or $0.58 per lb to $1,279 per metric ton on Monday, while US hot rolled coil steel increased by 7.4 percent.

Following the news, BMO Capital Markets raised its price target for Nucor Corp. (NYSE:NUE) to $145 from $140 previously and assigned the company an “outperform” rating, an upgrade from the “market perform” prior.

Nucor Corp. (NYSE:NUE) is one of the largest steel companies in the US, and currently the 16th largest producer in the world.

9. First Majestic Silver Corp. (NYSE:AG)

First Majestic Silver grew its share prices by 11.51 percent on Monday to finish at $6.88 apiece as investors turned bullish on the company following its discovery of a new gold-silver deposit that could significantly raise its future production.

Last week, First Majestic Silver Corp. (NYSE:AG) announced the discovery of a new gold-silver deposit called Sto. Nino, one kilometer away from the Santa Elena mining property in Sonora, Mexico.

Additionally, it was able to raise the production of its Navidad deposit at the same site following the success of its drilling operations.

First Majestic Silver Corp. (NYSE:AG) said that the addition of Navidad and Sto. Nino raised the number of its hosted production sites to four, the others being Sta. Elena and Ermitano.

“The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope,” said First Majestic Silver Corp. (NYSE:AG) President and CEO Keith Neumeyer.