Top Gainers: Barrick Gold, Super Micro, Nvidia Shine Bright

Generated by AI AgentAinvest Market Brief
Monday, Aug 12, 2024 6:30 pm ET1min read
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1. Barrick Gold (NYSE: GOLD)
Barrick Gold surged by 9.36%. Barrick Gold reported second-quarter fiscal 2024 results, expecting EPS of $0.28 and revenue of $3.13 billion. The average market price for gold was $2338 per ounce, while copper was $4.42 per pound. Jefferies and CIBC maintain buy and outperform ratings, with price targets of $23 and $27, respectively.

2. Super Micromputer (Nasdaq: SMCI)
Super Micromputer surged by 6.33%. Super Micro Computer's FY2024 revenue as of June 30 increased by 109.77% to $14.943 billion. Both Goldman Sachs and B of A Securities maintained a neutral rating, lowering price targets to $675 and $700, respectively, citing competitive pricing and supply issues.

3. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 4.08%. NVIDIA disclosed 13 insider transactions on August 12, including CEO Jensen Huang selling 240,000 shares for $24.9 million. Citigroup significantly increased its stake in NVIDIA in Q2, making it their top holding. NVIDIA's next-gen automotive chip, NVIDIA Thor, launched in Hefei.

4. Imperial Oil Limited (Unknown code: IMO)
Imperial Oil Limited gained solidly by 3.84%. RBC Capital and Scotiabank maintained their ratings for Imperial Oil, setting price targets of $108.00 and $110.00, respectively. In its fiscal 2024 first half, Imperial Oil reported revenue of 25.66 billion CAD and net profit of 2.328 billion CAD.

5. Agnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle Mines Limited gained solidly by 3.49%. Agnico Eagle Mines reported its Second Quarter fiscal 2024 results on July 31, 2024. Jefferies, CIBC, and BMO Capital maintained their ratings, with target prices of $66.00, $101.00, and $77.00 respectively. The company posted Q1 2024 revenue of $1.83 billion and net profit of $347 million.

Market Watch column provides a thorough analysis of stock market fluctuations and expert ratings.

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