Paltry Jamaica Stock Exchange trades – Monday

June 5, 2017 by

Trading in the main market of the Jamaica Stock Exchange closed on Monday with a sharp fall in volume and value traded and a drop in the market indices. The All Jamaica Composite Index declining 1,197.69 points to close at 262,775.04, the JSE Market Index fell 1,091.23 points to 239,417.82 and the JSE US dollar market index closed at 215.54.
At the close of trading, 31 securities changed hands with 2 trading in the US dollar market, leading to 10 stocks advancing and 9 declining. Trading in the main market ended with 1,059,661 units valued at just $8,670,794 changing hands, compared to a much higher, 3,774,318 units valued at $94,412,872 at the close on Friday. Trading in the US dollar market accounted for 98,500 units valued at US$28,311.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 36,540 units valued at a mere $298,993 for every security traded, compared to an average of 145,166 units valued at $3,631,264 on Friday. The average volume and value for the month to date ended at 97,758 units with an average value of $2,120,059 compared with an average of 128,368 units and $3,030,592 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Berger Paints closed at $18, with a loss of 64 cents exchanging 41,750 shares, Cable and Wireless closed at $1.30 trading 62,785 stock units, Caribbean Cement traded 99 cents lower to close at $29, with an exchange of 3,486 shares, Carreras lost $5 with 950 shares changing hands and closed at $84, Grace Kennedy advanced $2.01 to close at $43, trading 28,738 units, Jamaica Broilers closed at $17.96, gaining 6 cents with 38,773 shares being exchanged, Jamaica Producers lost 50 cents to close at $16 trading 43,524 units. Jamaica Stock Exchange closed at $7.39 with an exchange of 21,947 shares, JMMB Group traded 36,475 units at $20.50, Kingston Properties traded 49 cents higher to close at $11.49, with 1,224 shares changing owners, Kingston Wharves exchanged 1,108 shares at $32, Mayberry Investments lost 5 cents to close at $4.70, with an exchange of 50,700 shares, NCB Financial Group closed at $70.55, losing 44 cents after exchanging 6,431 shares, 138 Student Living exchanged 2,900 stock units at $4.49 and 1834 Investments gained 10 cents to close at $1.50 trading 16,000 shares. PanJam Investment closed at $35 trading 3,430 shares, Portland JSX lost 35 cents to close at $10.15, with 3,700 shares changing hands, Pulse Investments traded $2 lower to close at $16, with 9,313 shares, Radio Jamaica exchanged 145,825 shares at $1.70, Sagicor Group added 5 cents to close at $34.25 trading 39,824 shares and Sagicor Real Estate Fund rose 82 cents to close at $11.50, with 2,177 shares changing hands. Salada Foodsgained 55 cents, closing at $9.02, with an exchange of 350 shares, after trading at a 52 weeks’ intraday high of $10. Scotia Group dropped $2.10 and closed at $43.80, exchanging 6,424 shares, Scotia Investments traded $1.35 lower to close at $36.50, with 750 shares changing ownership, Seprod closed at $29.90, with gains of 38 cents trading 500 shares, Sterling Investments closed at $16.90, gaining $1.40 with 5,000 shares changing hands while Supreme Ventures added 29 cents to close at $7.49 exchanging 62,690 shares. Margaritaville Turks exchanged 4,500 units at 34 US cents, Proven Investments traded 94,000 ordinary shares at 28.49 US cents, Jamaica Money Market Brokers 7.5% preference share closed at $2 with trades of 5,984 units and JMMB Group 7.5% preference share closed at $1.15 exchanging 415,000 units.

 

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Berger & Scotia Group jump TOP 10

June 5, 2017 by

Scotiabank jumped out of TOP 10.

The main market of the Jamaica Stock Exchange, moved forward on each day of the past week except for a fall on Thursday to sit close to the all-time high on Friday. Movement in the Junior Market was up and down but a few stocks traded at new highs during the week.
In the main market, IC Insider downgraded the earnings of Carreras to $9 after the company reported full year results, the stock jumped to a record $89 at the close of the week and is out of the top listing. Carreras exit allowed for Jamaica Broilers to return to the main market listing. Jetcon Corporation returns to the Junior Market list and Lasco Financial moves out of the TOP 10.
The week’s movement continue to be constrained by near term resistance levels which could be acting as short term restraint to a break out from current levels.
The average PE ratio for the Junior Market Top stocks is 7.5 and 6.8 in the main market, these compare favourably with 13.7 for the overall main market and 13.4 for Junior Market, based on 2017 estimated earnings. With several stocks trading below the average, the potential for more gains for the rest of 2017 seems positive, barring any major negative developments.
In the main market, decline in the prices of Seprod down to $30 and Sterling Investments to $15.50 moved them into the top list and replaced Berger Paints and Scotia Group that maintained their prices and are now some distance from the top list.
Recent TOP 10 listings that remain just below the top spots include Access Financial that hit a new record high close of $50 and Blue Power up to $55 at the close of the week.

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JSE main market jumps – Friday

June 2, 2017 by

Carreras closed at a new high of $89 on Friday.

The closing indices in the main market of the Jamaica Stock Exchange closed strongly higher on Friday by more than 2,000 points even as the advance decline ratio was almost one to one. The market closed with 27 securities changing hands including 1 trading in the US dollar market. At the close, 10 stocks advanced and 9 declined.
Trading levels in the main market ended at 3,774,318 units valued at $94,412,872 compared to 2,282,207 units valued at $48,598,384 at the close on Thursday. Trading in the US dollar market accounted for 27,750 units valued at US$7,906.
The All Jamaica Composite Index advanced 2,195.29 points to close at 263,972.73 the JSE Market Index climbed 2,000.15 points to finish at 240,509.05 and the JSE US dollar market index gained 0.45 points to close at 215.54.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 10 stocks with bids higher than their last selling prices and none with lower offers.
The main market ended trading with an average of 145,166 units valued at $3,631,264 for each security traded, compared to an average of 111,569 units valued at $2,429,919 on Thursday. The average volume and value for the month to date, are 128,368 units and $3,030,592. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments traded 10 cents lower to close at$7.10, with an exchange of 82,225 shares, Berger Paints gained 10 cents, closing at $18.64 with trades of 9,642 shares, Cable and Wireless closed at $1.30, trading 541,675 shares while Caribbean Cement exchanged 4,915 shares at $29.99. Carreras jumped $4 to close at a 52 weeks’ high of $89, with 13,837 shares changing hands, Grace Kennedy lost 1 cent to close at $40.99 exchanging 1,141,371 units, Jamaica Broilers closed at $17.90, losing 10 cents with 57,091 shares traded at the same time Jamaica Producers lost 20 cents to close at $16.50, with 82,100 shares traded. Jamaica Stock Exchange gained 19 cents, closing at $7.39 with an exchange of 165,761 shares, JMMB Group closed at $20.50, with gains of 50 cents trading 79,537 units, Kingston Properties traded 50 cents lower to close at $11, with 15,277 shares, Kingston Wharves exchanged 15,524 shares at $32, Mayberry Investments lost 5 cents to close at $4.75, with an exchange of 39,790 shares, NCB Financial Group was down 1 cent to $70.99, after exchanging 69,538 shares, 138 Student Living exchanged 2,900 shares at $4.49. PanJam Investment closed at $35, with gains of 50 cents trading 5,955 shares, Portland JSX added 35 cents to close at $10.50, with 1,417 shares changing ownership, Pulse Investments traded 1,000 shares at $18, Radio Jamaica exchanged 7,216 shares at $1.70, Sagicor Group lost 40 cents to close at $34.20, with trades of 179,803 units. Scotia Group closed at $45.90, with gains of $1.91 exchanging 430,372 shares, Seprod closed at $29.52, with a loss of 48 cents trading 1,221 stock units, Sterling Investments closed at $15.50, with 350,890 shares changing hands, Supreme Ventures gained 20 cents to close at $7.20 exchanging 306,881 shares. Proven Investments traded 27,750 ordinary shares at 28 US cents, Jamaica Money Market 7.5% preference share gained 18 cents, closing at $2 with trades of 2,500 units and JMMB Group 7.5% preference share closed at $1.15, with a gain of 5 cents in exchanging 165,880 units.

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JSE main market falls Thursday

June 1, 2017 by
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The main market of the Jamaica Stock Exchange fell moderately at the closed on Thursday for the first time since for the week with 23 securities changing hands including 3 trading in the US dollar market. At the close, 4 stocks advanced and 8 declined with 2 trading a new highs.
Trading levels in the main market ended at 2,282,207 units valued at $48,598,384 compared to 1,782,575 units valued at $37,905,161 at the close on Wednesday. Trading in the US dollar market accounted for 108,650 units valued at US$35,680.
The All Jamaica Composite Index declined 681.28 points to close at 261,777.44, the JSE Market Index fell 620.72 points to finish at 238,508.90 and the JSE US dollar market index lost 0.59 points to close at 215.09.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 9 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 111,569 units valued at $2,429,919 for each security traded, compared to an average of 66,021 units valued at $1,403,895 on Wednesday. The average volume and value for May ended at 358,008 units with an average value of $9,037,303.
In market activity, Cable and Wireless closed at $1.30, with a loss of 4 cents trading 188,217 shares and Caribbean Cement traded 22,002 shares at $29.99. Carreras gained $2 and closed at a 52 weeks’ high of $85, with 13,835 shares changing hands, Grace Kennedy traded 101,889 units at $41, Jamaica Broilers exchanged 10,043 shares at $18, Jamaica Producers traded 29 cents lower to close at $16.70, with 16,329 shares trading. JMMB Group exchanged 157,515 units at $20, Kingston Wharves gained 40 cents to close at $32, with 3,808 shares changing hands, Mayberry Investments traded 11,000 shares at $4.80, NCB Financial Group closed at $71, after exchanging 50,828 shares, 138 Student Living exchanged 10,000 shares at $4.49. PanJam Investment closed at $34.50, with a loss of 40 cents, trading 23,010 shares, Pulse Investments climbed to a 52 weeks’ high of $18, with gains of $3.50 in trading 33,829 shares, Sagicor Group gained 60 cents to close at $34.60, with an exchange of 144,126 shares, Sagicor Real Estate Fund closed at $10.68, after losing 32 cents with 431,727 units changing hands. Scotia Group closed at $43.99, with a loss of $1.01 in trading 103,901 units, Scotia Investments traded 1,998 shares at $37.85, Seprod exchanged 554,950 shares at $30, Sterling Investments closed at $15.50, with 1,500 shares changing owners, while Supreme Ventures lost 50 cents to close at $7 trading 401,700 shares. Margaritaville Turks closed at 34 US cents exchanging 11,000 units, Proven Investments closed at 28.49 US cents, with an exchange of 92,650 ordinary shares and JMMB Group USD 6% preference share lost 0.01 US cent, closing at US$1.12 with 5,000 units changing hands.

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JSE majors jump again on Wednesday

May 31, 2017 by

The main indices of the main market of the Jamaica Stock Exchange surged again on Wednesday pushing them within striking distance from the record high reached recently. At the close 27 securities changed hands in the main market with 3 trading in the US dollar market with 9 stocks advancing and 6 declining.
Trading levels in the main market ended at 1,782,575 units valued at $37,905,161 compared to 7,796,244 units valued at $62,297,173 at the close on Tuesday. Trading in the US dollar market accounted for 37,630 units valued at US$13,624.
The All Jamaica Composite Index advanced 2,152.18 points to close at 262,458.74, the JSE Market Index rose 1,960.88 points to finish at 239,129.62 and the JSE US dollar market index gained 9.71 points to close at 215.66.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and none with lower offers.
The main market ended trading with an average of 66,021 units valued at $1,403,895 for each security traded, compared to an average of 311,850 units valued at $2,491,887 on Tuesday. The average volume and value for the month to date ended at 358,008 units with an average value of $9,037,303 compared with an average of 371,912 units with an average value of $7,355,047 on the previous trading day. The average volume and value for April ended at 382,748 units with an average value of $5,254,387In market activity, Barita Investments closed at $7.20 trading 809 shares,Berger Paints gained 2 cents to close at $18.54 exchanging 1,118 shares, Cable and Wireless closed at $1.34, with trades of 111,000 shares, Caribbean Cement traded 1,879 shares at $29.99. Carreras lost $1 and closed at $83, with 16,045 shares changing hands, Grace Kennedy gained 10 cents to close at $41 trading 72,235 units, Jamaica Broilers exchanged 80,541 shares at $18, Jamaica Producers traded $1.39 cents higher to close at $16.99, with 36,431 shares trading, Jamaica Stock Exchange closed at $7.20, with 7,880 shares changing ownership. JMMB Group advanced $1.15 to $20 exchanging 1,028,499 units, Kingston Wharves lost 40 cents to close at $31.60, with 11,066 shares traded, Mayberry Investments exchanged 10,695 shares at $4.80, with a loss of 70 cents. NCB Financial Group closed at $71, with gains of 40 cents after exchanging 29,295 shares, 1834 Investments traded 3,304 shares at $1.40,138 Student Living exchanged 3,772 shares at $4.49. PanJam Investment closed at $34.90, after a loss of 10 cents with 41,600 shares traded, Portland JSX exchanged 600 shares at $10.15, Pulse Investments traded 15,460 shares at $14.50, Radio Jamaica closed at $1.70, while 44,844 shares traded, Sagicor Group exchanged 36,564 shares at $34, Sagicor Real Estate fund closed at $11, with 14,795 units changing hands. Scotia Group jumped $2.50 and closed at $45, in exchanging 93,110 units, Scotia Investments gained $1.35 to close at $37.85 trading 600 shares, Seprod exchanged 15,669 shares at $30, Supreme Ventures added 25 cents to close at $7.50 trading 93,457 shares. Margaritaville Turks closed at 34 US cents exchanging 730 units, Proven Investments traded at 28.50 US cents, with an exchange of 33,500 ordinary shares, JMMB 7.5% preference share lost 18 cents to close at $1.82 trading 8,507 units and JMMB Group USD 6% preference share gained 0.01 US cent, closing at $1.13 with 3,400 units changing hands.

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Carreras pays $7B to government

May 31, 2017 by

Carreras grew profit by 27% in the fiscal year to March.

According to the last audited financials to March this year, Carreras will contribute $7 billion in taxes to the government of Jamaica coffers, excluding payroll taxes.
For the current fiscal year, the company is expected to contribute in excess of a billion more in taxes as government increased taxes on cigarettes earlier this year and profit grows thus contributing more in profit tax. The cigarette distributors paid 15 percent more in Special Consumption Tax during the fiscal year, than the year before, with $5.9 billion being paid while operating revenues grew 12.8 percent to $13.5 billion.
The financial results to March show profit for the year rising 27 percent to $3.8 billion or $7.84 per share with earnings versus $6.20 in 2016. Carreras incurred $1.2 billion in corporate taxes. In achieving the improved results the company not only increased revenues net of consumption taxes but cut operating cost as well. Administrative cost fell from 1.21 billion to $1.07 billion, as staff cost fell from $211 million down to $163 million and Business support services cost declined from $386 million to $302 million. Distribution cost from $723 million to $622 million as $81 restructuring cost incurred in 2016 was eliminated in 2017. Occupancy cost fell from $56 million to $45 million Security fell from $74 million to $57 million and other expenses declined by $23 million to just $4 million. Staff cost rose from $316 million to $332 million.
Cash funds stood at $2.58 billion compared to $2.6 billion in 2016 and shareholders’ equity at $2.1 billion. IC Insider.com is forecasting profit for the year to March 2018 of $4.4 billion with earnings per share of $9.
Dividends paid during the year to March 2017 amounted to $3.45 billion or 91 percent of profit. The stock traded at $84 on Tuesday on the Jamaica Stock Exchange.

Filed Under: Company News, Company Results Tagged With: , ,

JSE Main market surges

May 30, 2017 by

The main market of the Jamaica Stock Exchange enjoyed a big bounce at the close of trading on Tuesday with 25 securities changing hands and 2 trading in the US dollar market. At the close, 7 stocks advanced and 10 declined.
Trading levels in the main market ended at 7,796,244 units valued at $62,297,173 compared to 836,055 units valued at $14,784,987 at the close on Monday. Trading in the US dollar market accounted for 51,155 units valued at US$13,984.
The All Jamaica Composite Index advanced 2,095.53 points to close at 260,306.56 the JSE Market Index rose 1,909.26 points to finish at 237,168.74 and the JSE US dollar market index lost 9.64 points to close at 205.95.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 311,850 units valued at $2,491,887 per security traded, compared to an average of 34,836 units valued at $616,041 on Monday. The average volume and value for the month to date ended at 371,912 units with an average value of $7,355,047 compared with an average of 374,915 units and $5,236,889 on the previous trading day. The average volume and value for April ended at 382,748 units with an average value of $5,254,387.
In market activity, Barita Investments closed at $7.20 trading 2,000 shares,Berger Paints closed at $18.52, with a loss of $1.48 exchanging 21,400 shares, Cable and Wireless gained 4 cents to close at $1.34, with 54,006 shares trading, Caribbean Cement added $1.99 cents, closing at $29.99 in exchanging 56,002 shares. Carreras jumped $4 and advanced to $84, with 599 shares changing hands, Grace Kennedy lost 10 cents to close at $40.90 trading 95,341 units, Jamaica Broilers traded 6,774 shares at $18, Jamaica Producers traded 41 cents lower to close at $15.60, while trading 39,000 shares, Jamaica Stock Exchange closed at $7.20, with a loss of 10 cents while exchanging 57,952 shares. JMMB Group slid 95 cents to $18.85 trading 403,790 units, Kingston Properties lost 50 cents to close at $11.50, with 3,006 shares traded, Mayberry Investments exchanged 10,000 shares at $5.50, with gains of 60 cents. NCB Financial Group closed at $70.60, losing 40 cents after exchanging 6,478 shares, 1834 Investments traded 500 shares at $1.40, PanJam Investment closed at $35, with a loss of 50 cents in the trading of 8,800 shares. Portland JSX exchanged 1,567 shares at $10.15, Pulse Investments traded 11,400 shares at $14.50, Radio Jamaica closed at $1.70, trading 47,634 shares, Sagicor Group added 50 cents to close at $34 exchanging 990,823 shares, Sagicor Real Estate Fund gained 40 cents, closing at $11, with 114,491 units changing hands. Scotia Group closed at $42.50, with gains of 50 cents exchanging 9,544 units, Supreme Ventures closed at $7.25 trading 4,837 shares. Margaritaville Turks closed at 34 US cents trading 2,500 units, Proven Investments closed at 28.5 US cents, with trades of 48,655 ordinary shares, JMMB 7.5% preference share lost 5 cents to close at $2, with an exchange of 4,799,500 units, JMMB Group 7.5% preference share closed at $1.10 trading 1,000,000 and Proven Investments 8.25% preference share traded 80 cents lower to close at $5.20, with 50,000 units changing owners.

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Trading sinks in Jamaican stocks – Monday

May 29, 2017 by

Trading in the main market of the Jamaica Stock Exchange closed on Monday with main indices rising as 24 securities changed hands and with 2 trading in the US dollar market. At the close, 8 stocks advanced and 6 declined with very low level of trading.
Trading in the main market ended at 836,055 units valued at $14,784,987 compared to 4,417,748 units valued at $73,092,399 at the close on Friday. Trading in the US dollar market accounted for 6,430 units valued at US$6,926.
The All Jamaica Composite Index advanced 922.05 points to close at 258,211.03, the JSE Market Index rose 840.09 points to finish at 235,259.48 and the JSE US dollar market index closed unchanged at 215.59.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 9 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 34,836 units valued at $616,041 per security traded, compared to an average of 152,336 units valued at $2,520,428 on Tuesday. The average volume and value for the month to date ended at 374,915 units with an average value of $5,236,889 compared with an average of 392,814 units with an average value of $5,480,092 on the previous trading day. The average volume and value for April ended at 382,748 units with an average value of $5,254,387.
In market activity, Berger Paints closed at $20, gaining $1 while exchanging 49,814 shares, Cable and Wireless closed at $1.30, with 268,988 shares changing hands, Caribbean Cement traded 25 cents lower to close at $28 with 17,316 shares. Carreras closed at $80, with 10,397 shares changing hands and closed with the bid at $81, Grace Kennedy closed at $41 trading 49,831 units, Jamaica Broilers traded 23,833 shares at $18, Jamaica Producers gained 1 cent to close at $16.01, with trades of 22,355 shares, Jamaica Stock Exchange closed at $7.30, with gains of 30 cents while trading 1,602 shares. JMMB Group lost 20 cents to close at $19.80 with 20,100 units, Kingston Wharves gained $1.50 to close at $32, with 7,444 units trading, Mayberry Investments traded 40,050 shares at $4.90, with a loss of 40 cents. NCB Financial Group closed at $71 after gaining 1 cent in exchanging 61,352 shares, 1834 Investments closed at $1.40, with 25,232 shares changing owners, 138 Student Living exchanged 43,375 shares at $4.49, PanJam Investment closed at $35.50, losing 12 cents trading 65,096 shares. Pulse Investments traded 10,614 shares at $14.50, Radio Jamaica gained 5 cents to close at $1.70, with trades of 18,582 shares, Sagicor Group added 48 cents to close at $33.50 exchanging 14,500 shares, Sagicor Real Estate Fund lost 20 cents, closing at $10.60, with 9,981 units changing hands. Salada Foods closed at $8.50 trading 4,000 shares, Scotia Group closed at $42, with an exchange of 1,700 units, Sterling Investments closed at $15.50 trading 30,000 shares, Supreme Ventures lost 24 cents to close at $7.25 exchanging 10,893 shares. Proven Investments 8.25% preference share traded 29,000 units and rose 79 cents to $6, Proven Investments ordinary shares closed at 29 US cents, with 330 shares and JMMB Group USD 6% preference share gained 0.01 US cent to close at US$1.12, with 6,100 units changing hands.

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Carreras dividend yield 11.5%

May 29, 2017 by

Dividend hiked at Carreras

Carreras has declared an interim dividend of $2.10 per stock unit, payable on June 28, 2017, to stockholders as shown on the Register of Members as at June 9. The stock will commence trading ex-dividend on June 7. The payment will bring the dividends for the last twelve months to $7.50 per share, for a yield of 11.5 percent based on the price of $65.40, at the end of June 2016.
The company paid an interim dividend of $2.20 per stock unit to stockholders on the Register of Members at February 17, this year, an interim dividend of $1.70 per stock to stockholders on record at November 24, 2016 and a dividend of $1.50 per on August 30, 2016.
Carreras traded as high as $84 this year and is trading currently at $77.73 on the Jamaica Stock Exchange and traded at a low of $60 in the last twelve months.
For the December 2016 quarter, Carreras‘ profit after tax rose 24 percent to $1.1 billion, from $889 million and for the nine months, it moved 23 percent, from $2.28 billion to $2.79 billion. IC Insider.com is forecasting $11.50 earnings per share for the current year that ends in March 2018 as the price of cigarettes was raised this year. The increased earnings would result in an increased dividend payment.

Filed Under: Company News, Dividends Tagged With: ,

Berger & Scotia Group drop TOP 10

May 28, 2017 by

Image courtesy of suphakit73/FreeDigitalPhotos.net

The two main markets of the Jamaica Stock Exchange, pulled back this past week as the volatility in the price of some stocks resulted in shifts in the position of some stocks in the TOP 10. Movements were not enough to change the Junior Market list, even as Caribbean Producers saw a 25 percent fall during the week with heavy volume, the stock enjoyed partial recovery by weekend.
This week’s pull back, seems to support the comment last week, “that both markets are trading close to recent resistance levels which could act as a short term restraint on upward movement.”
In the main market, decline in the prices of Seprod down to $30 and Sterling Investments to $15.50 moved them into the top list and replaced Berger Paints and Scotia Group that maintained their prices and are now some distance from the top list.
The average PE ratio for the Junior Market Top stocks is 7.5 and 6.8 in the main market, these compare favourably with 13.7 for the main market and 13.4 for Juniors, based on 2017 estimated earnings. With several stocks trading below the average, the potential for more gains for the rest of 2017 seems positive, barring any major negative developments.
Recent TOP 10 listings remain just below the top spots with Access Financial, Jetcon Corporation, AMG Packaging, Dolphin Cove, Caribbean Cream and Blue Power sitting just below, with potential gains of more than 100 percent and in the main market, Grace Kennedy and Sagicor Group are just below the Top spots with good potential gains ahead.
The history of the Top stock performance indicates that, it takes a few months for most of the stocks to reach potential targeted prices as they tend not to be the stocks favoured by a large segment of investors, in the short term.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 44 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving several stocks with room for growth in the months ahead.
At the close of the week, bid volumes for junior market stocks remained relatively low ranging from a high of 66,436 units at $5.15 for Lasco Manufacturing with an offer of 16,685 units at $5.20, Access with a bid of 35,425 at $42.50, Caribbean Producers with 34,300 units on the bid at $3.50, with 100,000 shares on offer at $3.80. Key Insurance closed with 15,213 units on the bid at $2.90 and 51,361 offered at $3.80 and Lasco Financial ended the week with a bid of $4.05 to buy 24,000 units with 47,888 units being offered for sale at $4.40.

Seprod shares dropped from $45.10 in February to $30 on Friday.

Caribbean Cement had a bid to buy 54,903 units at $28.50 and offers of 7,850 shares at $29.95. Carreras had just 1,233 units on the bid at $77 with 4,954 shares being offered at $80, JMMB Group’s has bids to buy 8,272 units at $19.80 with an offer to sell 6,224 shares at $20, Radio Jamaica bid ended trading at $1.68 to buy 883 units with 30,000 units on offer at $1.79 while Scotia Investments closed the week with 14,753 units on the bid to buy at $36.50 and 14,049 units offered for sale at $37.85. Interest in Seprod has fallen with only 250 units on the bid at $29.50 and selling of 95,352 units at $30, this is way off from the 52 weeks’ high of $45 the stock sold at late February this year.

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