Big price moves & additions to ICTOP10

The Junior Market fell 113 points in contrast to the Main Market that rose 364 points in August and increased by 2 percent and 1.4 percent respectively for the past week, to close out August. Price changes were interesting, with the Junior Market having only one stock with a notable loss and 4 with worthwhile gains. The Main Market TOP10 had two losers of note and three noted winners.
In the Junior Market TOP10, Lumber Depot rose 8 percent to $2.95, followed by One Great Studio popping 7 percent to 79 cents, Stationery and Office Supplies gained 6 percent to $1.73, following spirited trading in the stock after they released half year results and AMG Packaging rose 5 percent to $2.75. The Caribbean Cream stock continued to be pressured by the delay in publishing quarterly results, promised for August 29 but not yet posted, has dropped 12 percent in closing at $3.05.
In the Main Market, Key Insurance rose 16 percent to $2.79, Margaritaville climbed 15 percent to $14.37 and JMMB Group rose 6 percent to $22.30. Berger Paints and 138 Student Living lost 7 percent each to close at $6.35 and $4 respectively.
The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains in the market, based on projected 2024 earnings. Key Insurance dropped out of the list this week and was replaced by another insurance company, the Junior Market listed Iron Rock Insurance that dropped out at the end of the previous week.
There were two changes to the Main Market and Junior Market TOP10 listings for the week, one in the Junior Market and the other in the Main Market. Entering the Junior Market TOP10 is Cargo Handlers with the price falling to $8, with Lumber Depot falling out. In the Main Market, Palace Amusement dropped out allowing VM Investments to return to the TOP10.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 14.3 and the Junior Market TOP10 sits at 6, just over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 324 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 268 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market have PEs between 15 to 107, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 23 and a PE of 17 for half of the market with the highest values.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2025 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.