Kingold Jewelry (KGJI) Posts Robust Growth; Third Point Eyeing Potential in Facebook (FB), Monsanto (MON)

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Kingold Jewelry, Inc. (Nasdaq:KGJI) delivered in its quarterly financial results a robust growth in profits and sales, sending its stock up over 40% to reach a new 52-week high in the extended session friday

For the second quarter 2016, Kingold posted sales of $390.3 million, a 56.5% increase year over year, and net income of $19.8 million, or $0.30 per diluted share, compared to net income of $0.6 million, or $0.01 per diluted share in the same period the prior year

KGJI stock finished the regular session at $2.05, up $0.04 (or +1.99%) and 213,060 of its shares changed hands during the day

Kingold Jewelry, which designs, manufactures, and sells gold jewelry and Chinese ornaments, has 65.96M Shares Outstanding. At close on Friday, the company had a Market Capitalization of $135.23M and KGJI stock one-year range was from $0.49 to $2.15 per share

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After the closing bell on Friday, Third Point LLC, the hedge fund run by Daniel Loeb, disclosed in a regulatory filing ( FORM 13F ) with the U.S. Securities and Exchange Commission (SEC) 3,750,000 shares stake in Facebook, Inc. (Nasdaq:FB)

FB stock closed at $124.88, down $0.02 (or -0.02%) with a total volume of 12.16M shares traded, representing a decrease in activity versus its average volume (3m) of 21.07M

Facebook, engaged in developing products that enables users to connect and share through mobile devices and personal computers, has 2.32B Shares Outstanding, Market Capitalization (intraday) of $358.58B and FB stock 52-week range is between $72.00 and $128.33 per share

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Additionally, Third Point reported in the same SEC filing ( FORM 13F ) 1,000,000 shares stake in Monsanto Co. (NYSE:MON)

MON stock closed in negative territory by 0.63% (or -$0.67) at $105.25 and 1.25M shares of the company changed hands on Friday’s trading session

Monsanto, which provides agricultural products for farmers worldwide, has 437.58M Shares Outstanding, Market Capitalization (intraday) of $46.60B and MON stock one-year range is from $81.22 to $114.26 per share

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