Iron Rock is back in ICTOP10

There are two changes to the ICTOP10 this week, as Iron Rock Insurance came roaring back after it was side lined from the TOP10 following the recent suspension of trading in the shares. The company released blowout results for 2024 and the first quarter this year, resulting in investors pushing the price to $3.04, with more to come, after the stock ended in both the Junior Market TOP10 and the all JSE TOP10.
Before the suspension of trading, Iron Rock stock was in ICInsider.com TOP10 Junior Market listing, with earnings of 32 cents per share for fiscal year 2023, the company bettered that by delivering 39 cents. The quarterly results to March showed a big improvement over the same period In 2023, accordingly, ICInsider.com projects earnings of 55 cents per share for 2024, putting it in the number 4 position on the Junior Market TOP10 even after the price moved 39 percent from $2.18 at the time of suspension to $3.04 this past week.
At the close of the week, Consolidated Bakeries rose 10 percent to close at $2.20, tTech is up 6 percent to $2.85, followed by One Great Studio that rose 5 percent to close at 81 cents while Access Financial fell 10 percent in closing at $19.02.
In the Main Market, Berger Paints plunged 29 percent to $6, on limited volume and with offers mostly above $8.40, followed by Margaritaville with a 12 percent fall to $13.60. Pulse Investments jumped 17 percent to $1.74, while VMW Investments rose 4 percent to $2.70.
The All JSE TOP10 combines all ordinary stocks listed on the Jamaica Stock Exchange and reflects the 10 best choices to profit from investing in stocks on the market.
The decline in Berger Paints’ price landed them in the number 2 position on the All JSE TOP10 list, while Iron Rock rocketed into the list at the expense of VM Investments and Access Financial moved back in as Pulse Investments dropped out, with the big price surge.
Lasco Financial Services after returning to the Junior Market TOP10, last week is now replaced by Iron Rock Insurance and in the Main Market, Pulse Investments dropped out of the TOP10 and is replaced by Palace Amusement.
The average PE for the JSE Main Market ICTOP 10 stands at 4.4, well below the market average of 13.7 and the Junior Market TOP10 sits at 6.6, just over half of the market, with an average of 12.9.
The Main Market ICTOP10 is projected to gain an average of 336 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 225 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 are priced at a PE of 15 to 96, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 23 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 22.
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.
Persons who compiled this report may have an interest in securities commented on in this report.
TOP 10 Stocks, Daily Trading, Jamaican Stocks, Junior Market, Jamaican