Last week saw a remarkable performance among a select group of large-cap stocks spanning sectors including precious metals, biotechnology, semiconductors, and energy. Noteworthy was Hecla Mining Company (NYSE:HL), which experienced a substantial appreciation of 29.31% over the period. This uplift coincides with rising valuations in precious metals stocks, influenced by geopolitical uncertainties and a weakening U.S. dollar. Market commentators suggest that anticipated Federal Reserve interest rate cuts may be supporting increased investor appetite for commodities.
Following closely, First Majestic Silver Corp. (NYSE:AG) advanced by 26.57% in the same timeframe, mirroring the general positive sentiment in the precious metals market. Similarly, New Gold Inc. (AMEX:NGD) increased by 24.03%, supported by favorable governance developments. Specifically, proxy advisory firm Glass Lewis recommended that New Gold shareholders vote in favor of the proposed arrangement with Coeur Mining Inc. (NYSE:CDE) at the scheduled January 27 meeting, which involves an exchange ratio of 0.4959 Coeur shares per New Gold share. Institutional Shareholder Services (ISS) has also endorsed the transaction, bolstering confidence in the deal’s prospects. Consequentially, Coeur Mining itself reflected a robust 23.13% price increase for the week.
Elsewhere in the market, Venture Global, Inc. (NYSE:VG) gained 21.6% during the week following an arbitration ruling. The International Chamber of Commerce issued a final award rejecting Repsol's claims and ordering Repsol to cover Venture Global Calcasieu Pass's (VGCP) associated fees, removing a significant source of uncertainty for the company.
Biotechnology sector gains were spearheaded by Moderna, Inc. (NASDAQ:MRNA), which rose 17.44%. This uplift followed the release of five-year follow-up data from a Phase 2b clinical study evaluating their melanoma vaccine, Intismeran autogene (mRNA-4157) combined with Merck’s immunotherapy agent Keytruda. The data provided promising insights that have invigorated investor confidence in Moderna's oncology pipeline.
United Microelectronics Corporation (NYSE:UMC) and Micron Technology, Inc. (NASDAQ:MU) also contributed to the list of top gainers, marking increases of 13.82% and 13.21% respectively. Micron's leap was further reinforced by William Blair analyst Sebastien Naji initiating coverage with an Outperform rating, guiding positive sentiment among institutional investors.
Iamgold Corporation (NYSE:IAG) recorded a more modest rise of 1.21%, with the company providing updates on its gold production figures, reporting 765,900 ounces produced in 2025 and projecting 720,000 to 820,000 ounces for 2026. This production guidance situates Iamgold's operations within a steady output range, contributing to its sustained market presence.
In the utility sector, Korea Electric Power Corporation (NYSE:KEP) gained 15.29% over the week, reflecting renewed investor interest and positive market dynamics within energy infrastructure equities.
The performance of these stocks during the week encapsulates ongoing market trends where commodity-related equities and innovative biotech ventures capture investor attention due to both macroeconomic factors and sector-specific developments.
Stock overview with closing prices and weekly changes as of January 23 include:
| Ticker | Company | Close Price | Weekly Change |
|---|---|---|---|
| AG | First Majestic Silver Corp | $25.77 | +26.57% |
| CDE | Coeur Mining Inc | $26.25 | +23.13% |
| HL | Hecla Mining Co | $31.84 | +29.31% |
| IAG | Iamgold Corp | $20.99 | +1.21% |
| KEP | Korea Electric Power Corp | $21.64 | +15.29% |
| MRNA | Moderna Inc | $48.58 | +17.44% |
| MU | Micron Technology Inc | $399.26 | +13.21% |
| NGD | New Gold Inc | $12.88 | +24.03% |
| UMC | United Microelectronics Corp | $10.59 | +13.82% |
| VG | Venture Global Inc | $9.85 | +21.6% |
Key Points
- Hecla Mining experienced a 29.31% share price increase amidst rising precious metals sentiment and a weaker U.S. dollar.
- Moderna's share price climbed 17.44% following positive five-year clinical trial results for its melanoma vaccine combined with Keytruda.
- New Gold and Coeur Mining shares surged due to shareholder backing for their merger arrangement, endorsed by proxy advisory firms.
- Semiconductor companies United Microelectronics and Micron Technology showed gains supported by new analyst coverage and market optimism.
Risks and Uncertainties
- Market movements in precious metals are sensitive to geopolitical tensions and Federal Reserve policies, which may shift unexpectedly.
- Clinical trial results, while promising, do not guarantee regulatory approval or commercial success for biotechnology ventures like Moderna.
- Shareholder approval and integration risks remain for the New Gold and Coeur Mining merger, despite current advisory endorsements.
- Macroeconomic conditions and supply chain challenges can affect semiconductor company valuations and operational performance.