In a week when markets closed lower, there were two changes to the IC top 10 lists, with Jetcon Corporation and Lasco Manufacturing falling out and Iron Rock Insurance and Paramount Trading returning as Caribbean Producers surged to the top of the Main Market ICTOP10, following the release of record full year results, with earnings of 6.8 US cents per share or approximately J$1.05, with a projection off J$2.75 for the fiscal year ending June 2023.
Price changes in both markets were relatively small, with Jetcon Corporation gaining 4 percent to close the week at $1.10, while Caribbean Cream declined 6 percent to $4.06 and Dolphin Cove fell by 4 percent to $13. In the Main Market, Sygnus Credit Investments lost 5 percent to end at $13.40, the only noticeable change.
At the end of the week, the average PE for the JSE Main Market TOP10 is 6.2, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.6 versus the market at 12.7, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 263 percent, and the Main Market TOP10 projected to gain an average of 250 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 16 to 37, averaging 21 compared with the above-average market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the main market is similar, with the 15 highest valued stocks priced at a PE of 15 to 80, with an average of 25 and 21 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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 are likely to deliver the best returns up to the end of May 2023 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 gains are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
A total of 11,685,238 shares were traded for $33,419,102, compared with 13,716,040 units at $36,147,946 on Thursday.
At the close, Access Financial popped $3.15 to close at $23.25 while exchanging 443 shares, AMG Packaging dipped 29 cents in closing at $3.50 with a transfer of 1,994,316 units, following the release of full year results showing profits up 77 percent over 2021. Caribbean Assurance Brokers climbed 15 cents to $2.45 with 24,289 stock units changing hands. Caribbean Cream dipped 33 cents to $4.06, with 4,154 stocks changing hands, Consolidated Bakeries declined 24 cents in ending at $2.41 after trading 11,628 shares, Everything Fresh increased 15 cents to $1.80, with 123,154 stock units crossing the market. GWest Corporation advanced 14 cents to $1.10 with the swapping of 5,300 units, Honey Bun rallied 10 cents to $7.80 but only after trading at an intraday low of $6, and ended with an exchange of 83,330 shares, Indies Pharma lost 14 cents to end at $2.89 after a transfer of 10,336 stocks. 
KLE Group shed 16 cents to close at $1.99 after 203 stock units passed through the market, Knutsford Express gained 50 cents to close at $8.50 in switching ownership of 76,459 units, Lumber Depot rose 15 cents to $2.85 in an exchange of 210,367 shares. Main Event fell 50 cents in closing at $8.40 after trading 877 stocks and MFS Capital Partners fell 15 cents in ending at $2.70 and exchanging 658,300 units.
A total of 13,716,040 shares were traded for $36,147,946 up sharply from 6,517,560 units at $21,338,285 on Wednesday.
At the close, Access Financial dropped $5.05 to $20.10 as investors exchanged 17,518 shares, EduFocal rallied 15 cents to close at $2.90 with the swapping of 95,552 units, Express Catering climbed 21 cents in closing at $5.29 crossing the exchange 3,904 stock units. GWest Corporation fell 14 cents to end at 96 cents trading 540 stocks, Honey Bun dipped 30 cents ending at $7.70 in exchanging 13,353 shares, Knutsford Express increased 40 cents to end at $8 after exchanging 30 units. Lasco Manufacturing advanced 17 cents to close at $4.20 while exchanging 28,070 stock units, Lumber Depot lost 25 cents to $2.70 clearing the market with 4,897,823 stocks, Spur Tree Spices popped 10 cents in closing at $3.60 in trading 441,245 stocks. Stationery and Office Supplies rose 99 cents ending at $16 crossing the market 438 units, Tropical Battery declined 16 cents to close at $2.41 with a transfer of 86,072 shares and tTech gained 25 cents to end at $3.30, with 7,093 stock units changing hands.
In the preference segment, CAC 2000 9.5% preference share shed 18 cents ending at $1 with investors transferring 145,936 units.
A total of 6,517,560 shares were traded for $21,338,285 compared to 8,671,745 units at $24,272,423 on Tuesday. 
At the close, Access Financial increased 84 cents to close at $25.15 while exchanging 238 shares, AMG Packaging rallied 20 cents in closing at $3.80 after trading 57,009 stocks, Caribbean Assurance Brokers dipped 16 cents to end at $2.29, with 24,433 stock units changing hands. Consolidated Bakeries rose 22 cents to $2.60, with 1,456 units passing through the market, Dolphin Cove declined 22 cents to $13.75 with investors transferring 1,936 shares, Everything Fresh fell 24 cents to $1.57 in an exchange of 14,205 units. Express Catering lost 21 cents to end at $5.08 after exchanging 14,041 stock units, Fontana climbed 10 cents to $9.40 after a transfer of 94,162 stocks, General Accident shed 15 cents in closing at $5 in switching ownership of 10,243 units. Iron Rock Insurance gained 40 cents to close at $2.50, with 7,132 shares crossing the market, Knutsford Express dropped 40 cents to end at $7.60 with an exchange of 25,870 stock units, Main Event popped $1.19 to $8.90 after investors exchanged 30,824 stocks. 
Paramount Trading lost 17 cents at $1.78, with 54,626 shares clearing the market, Stationery and Office Supplies fell 99 cents to $15.01, with 24,586 units crossing the exchange, Tropical Battery advanced 17 cents to close at $2.57 with a transfer of 58,319 stock units and tTech climbed 45 cents to $3.05 in an exchange of nine no stocks.
Investors exchanged 8,671,745 shares at a value of $24,272,423 up from 7,098,706 units at $22,345,448 on Monday.
At the close, AMG Packaging declined 20 cents to $3.60, with 968 shares crossing the market, Consolidated Bakeries dropped 22 cents to $2.38 while exchanging 47,334 stocks, Dolphin Cove increased 97 cents to $13.97, with 571 stock units crossing the market. Fontana gained 28 cents to end at $9.30 with a transfer of 63,071 units, Iron Rock Insurance fell 65 cents to close at $2.10, with an exchange of 640 units, ISP Finance rose $3 to close at $20 in trading four stocks. Knutsford Express climbed 20 cents in closing at $8, as 25,749 shares passed through the market, Lasco Manufacturing fell 17 cents to $4.03 with investors transferring 11,890 stock units, Main Event rallied 14 cents to end at $7.71 as investors exchanged 2,800 stock units. 
MFS Capital Partners shed 10 cents in ending at $2.90 after switching ownership of 56,562 shares, Paramount Trading advanced 17 cents to $1.95 after a transfer of 9,900 stocks, Spur Tree Spices dipped 14 cents in closing at $3.55 with an exchange of 605,286 units. Tropical Battery dropped 19 cents to end at $2.40 after trading 3,127,895 units and tTech lost 50 cents after ending at $2.60 with an exchange of 40,348 stock units.
At the close, Access Financial fell 84 cents to end at $24.31 after trading 151 shares, AMG Packaging popped 29 cents to close at $3.80 in exchanging three units, Blue Power lost 18 cents in closing at $3.11 with 100 stocks clearing the market. Consolidated Bakeries climbed 23 cents to $2.60 with a transfer of 9,040 stock units, Dolla Financial increased 12 cents to $3.29 after exchanging 507,710 stock units, Dolphin Cove declined $1.36 in ending at $13 with investors transferring 31,661 stocks. EduFocal rose 11 cents to $2.76 in an exchange of 93,179 shares, Elite Diagnostic dipped 11 cents to $3.54 in exchanging 104,320 units, Everything Fresh advanced 23 cents to close at $1.83 as investors exchanged 2,270 stock units. Express Catering gained 23 cents to end at $5.29 after trading 800 shares, Fontana dropped 41 cents to close at $9.02 while exchanging 78,667 units, Fosrich rallied 10 cents to $4.50 in trading 1,277,497 stocks. Future Energy Source shed 40 cents to $5.20 with the swapping of 273,016 stocks, GWest Corporation slipped 17 cents to end at 96 cents 43,182 units crossing the exchange, Knutsford Express lost 20 cents in ending at $7.80 with 24,428 shares changing hands. Main Event declined $1.43 in closing at $7.57 after 940 stock units were traded, Medical Disposables advanced 10 cents to close at $5.11 after a transfer of 55,445 stock units, MFS Capital Partners gained 40 cents in ending at $3 after 116,512 stocks crossed the market. 
Paramount Trading dropped 12 cents to $1.78 in switching ownership of 6,229 units, Stationery and Office Supplies fell 48 cents to $16.01 with 17,354 shares crossing the market, Tropical Battery popped 14 cents to $2.59 with an exchange of 186,284 shares and tTech climbed 13 cents in closing at $3.10, with 45,625 units changing hands.
Lasco Manufacturing and Jetcon Corporation return to the ICTOP10.
The Junior Market is projected to rise by 246 percent and the Main Market TOP10 is projected to gain an average of 235 percent, to May 2023.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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.
A total of 14,998,187 shares were exchanged for $39,991,106 against 14,203,408 units at $56,275,455 on Thursday.
At the close, Caribbean Cream gained 27 cents to settle at $4.30 with a transfer of 16 shares, Dolla Financial dipped 11 cents to end at $3.17 after a transfer of 2,549,439 stock units, EduFocal fell 9 cents to $2.65 in an exchange of 531,619 stocks. Express Catering dropped 31 cents to $5.06 after exchanging 20,586 units, Future Energy Source popped 18 cents in ending at $5.60 with investors transferring 609,149 units, ISP Finance fell $3 in closing at $17 with the swapping of 2 stock units. Lasco Distributors declined 14 cents to end at $2.86 in switching ownership of 37,740 stocks, Lasco Manufacturing shed 16 cents to close at $4.29 after clearing the market with 5,072 shares, Lumber Depot rose 9 cents to $2.95 as investors exchanged 798,618 stock units. Medical Disposables dipped 34 cents to $5.01 with 34,551 shares crossing the market, MFS Capital Partners shed 40 cents ending at $2.60 after an exchange of 297,871 units, 
Spur Tree Spices fell 10 cents to $3.65 with 695,021 stocks changing hands and Stationery and Office Supplies climbed 48 cents to end at $16.49 with 572 stocks passing through the market.
A total of 14,203,408 shares were exchanged for $56,275,455 compared to 13,198,946 units at $42,970,729 on Wednesday.
At the close, Access Financial shed 15 cents to end at $25.15, with 64 shares crossing the market, Cargo Handlers gained $1.74 in ending at $13.34 with the swapping of 593 stock units, Consolidated Bakeries fell 30 cents to $2.40 and closed with after an exchange of 25,489 stocks. Dolla Financial rose 11 cents to end at $3.28 with 238,152 units changing hands, Everything Fresh dipped 19 cents to $1.56, with 10,901 units crossing the market, Fontana climbed 24 cents to close at $9.44 in trading 90,999 stock units. Future Energy Source lost 18 cents in closing at $5.42 after exchanging 637,915 shares, KLE Group increased 16 cents to $2.15 with investors transferring 100 stocks, Knutsford Express rallied 20 cents to end at $8 after 9,100 units passed through the market. 
Lasco Distributors popped 10 cents in ending at $3 after exchanging 2,804 stocks, Lasco Manufacturing advanced 45 cents to $4.45 with a transfer of 589 shares, Medical Disposables declined 48 cents in closing at $5.35 while exchanging 3,811 stock units and Tropical Battery dropped 12 cents to end at $2.43 in switching ownership of 402,759 units.
A total of 13,198,946 shares were traded for $42,970,729 compared with 24,655,438 units at $89,978,978 on Tuesday.
At the close, AMG Packaging lost 8 cents to end at $3.51 with investors transferring 10,228 shares, Blue Power declined 19 cents to close at $3.29 after 3,000 units were traded, Caribbean Cream shed 17 cents to $4.03 with an exchange of 146 stocks. Caribbean Flavours dipped 8 cents to $1.75 with a transfer of 35,195 stock units, Consolidated Bakeries fell 26 cents to $2.70 in switching ownership of 51,934 stocks, EduFocal dropped 15 cents to $2.70, with 541,507 units crossing the market. Elite Diagnostic rose 11 cents to $3.65, with 59,793 stock units changing hands, Fontana dipped 10 cents in closing at $9.20 as investors exchanged 120,017 shares, Fosrich shed 9 cents to close at $4.31 in trading 491,987 units. Future Energy Source popped 10 cents to end at $5.60 after ffinishing trading 487,672 stocks, Honey Bun rallied 10 cents in closing at $8 with the swapping of 2,681 stock units, Knutsford Express dipped 20 cents to $7.80 after a transfer of 11,722 shares. 
Lasco Distributors declined 8 cents to $2.90 after exchanging 41,661 stocks, Medical Disposables advanced 63 cents to close at $5.83 while trading 81,832 shares, Spur Tree Spices climbed 32 cents to $3.74 in an exchange of 6,803,327 stock units and Stationery and Office Supplies fell $1.91 to end at $16.04, with 2,102 units clearing the market.
