The S&P 500 bounced back after a horrible start to 2016 and has now delivered more than a 2 percent gain on the year. Commodity stocks have led the way in 2016 after horrible returns in recent years. In fact, a number of big-name stocks have already doubled so far this year. Here’s a look at five of this year’s top performers.
1. ONEOK, Inc. (NYSE: OKE)
Oil and gas prices have bounced back of late, making natural gas company ONEOK a top market performer. The stock is up 101.5 percent in 2016.
2. Consol Energy Inc. (NYSE: CNX)
While other former coal giants have succumbed to bankruptcy, CONSOL has continued its transition from coal to natural gas. Shares are up 107.8 percent this year.
3. Axiall Corp (NYSE: AXLL)
It’s not only commodity stocks that have surged this year. Axiall makes chemicals and building products and has been on fire in 2016. The stock is up 114.5 percent on the year.
Related Link: 5 Stocks Cut In Half In 2016
4. United States Steel Corporation (NYSE: X)
The steel market has finally stabilized to some degree, and investors have swooped in to buy the huge dip in U.S. Steel. So far this year the stock is up 131.0 percent.
5. Newmont Mining Corp (NYSE: NEM)
With concerns over China’s economy and the Brexit looming large, investor “flight to safety” has driven gold prices higher in the first half of 2016. Gold miners like Newmont have been some of the largest beneficiaries. Newmont’s stock is now up 124.6 percent so far this year, enough to make it the top performer in the entire S&P 500 in the first half of 2016.
Disclosure: The author is long CNX.
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