Why Weatherford International, Freeport-McMoRan and Three Others Stocks are Gaining Ground Today?

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Vale SA Up After Increasing Iron Ore Prices

Vale SA (ADR) (NYSE:VALE)’s stock has escalated by more than 7% so far today after iron ore prices advanced to their highest levels in a month. The Brazil-based metals and mining company is rebounding as Brazil’s benchmark stock index rose. Jonathan Barrett and Paul Segal’s Luminus Management is one of 26 hedge funds from our database having stakes in Vale SA (ADR) (NYSE:VALE) as of the end of March this year. It owns more than 11.4 million shares of the company.

Freeport-McMoRan Rebounding

Freeport-McMoRan Inc (NYSE:FCX) is rebounding after tumbling on Thursday due to the lack of consensus between the big oil producers in an OPEC meeting in Vienna. The declining copper prices metal after a weak manufacturing data from China also dented the stock price of Freeport-McMoRan earlier this month. The stock is trading 3.4% in the green so far today. As of the end of the first quarter, 34 funds tracked by Insider Monkey are bullish on Freeport-McMoRan Inc (NYSE:FCX), down from 37 funds a quarter earlier. Carl Icahn’s Icahn Capital LP stands out amongst them with 104 million shares.

Coffee Holding posts Second Quarter Results

Coffee Holding Co., Inc. (NASDAQ:JVA)’s stock has surged by more than 32% after the company posted fiscal second-quarter earnings of $0.14 per share, better than the loss of $0.33 per share reported a year earlier. Revenue in the quarter declined by 29.3% on the year to $21.4 million. In a statement, Coffee Holding Co ‘s CEO Andrew Gordon said that the company was able to increase its profitability in three key business areas despite of the competitive pressures due to coffee prices. Mr. Gordon said that the company is focusing more on farm identification, specialty gourmet micro lots of Arabica coffee and branding. Billionaire Jim Simons’s Renaissance Technologies is one of the three funds from our database having stakes in Coffee Holding Co., Inc. (NASDAQ:JVA) as of the end of March.

Disclosure: None

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