Trading closed on Friday, moved the Jamaica Stock Exchange Junior Market closer to the 3,600 points level ahead of the old record close of August 2019 of 3,662.94 points, with a rise of 16.13 points at the close of Friday to settle at 3,585.75 after trading up to 3,630 points in the early trading session.
Trading calmed, with Spur Tree slipping under 10 million units, but still played a big part in the 16,579,452 shares that traded for $57,855,045, down from 26,022,456 units at $87,517,746 on Thursday. Spur Tree Spices led trading with 8.57 million shares for 51.7 percent of total volume followed by Future Energy Source with 2.3 million units for 13.9 percent of the day’s trade and Jamaican Teas traded 765,118 units for 4.6 percent market share.
A total of 40 securities traded compared to 43 on Thursday and ended with 15 rising, 19 declining and six, closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 16. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Trading averaged 414,486 shares at $1,446,376 in contrast to 605,173 shares at $2,035,296 on Thursday and month to date, an average of 332,829 units at $1,278,375, compared to 326,758 units at $1,265,884 on the prior trading day. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial rallied $1.27 to end at $26.28 after exchanging 3,509 shares, CAC 2000 rose 77 cents to close at $8.27 after trading 100 units, Cargo Handlers shed 28 cents to $7.20 with the swapping of 47,124 stock units. Caribbean Assurance Brokers dropped 13 cents in closing at $2.90 in switching ownership of 471,657 stocks, Caribbean Cream advanced 25 cents to $5.40 while exchanging 100 shares, Consolidated Bakeries fell 11 cents to close at 99 cents 313,892 units crossing the exchange. Dolphin Cove gained $2.25 to end at $22.25 in trading 698,461 stocks, Express Catering lost 25 cents in closing at $5.10, with 478,008 stock units clearing the market, Fosrich popped $2.44 to a record $14.49 after 5,368 units changed hands. Future Energy Source increased 25 cents ending at $3.45 after trading 2,299,167 stock units, General Accident declined 30 cents to close at $6 in an exchange of 28,495 shares, Honey Bun climbed 15 cents to end at $9.60, with 1,539 stocks crossing the market. iCreate shed 9 cents after ending at 79 cents in exchanging 378,448 units, Iron Rock Insurance gained 10 cents to $3, with 2,287 stocks changing hands, ISP Finance rallied $3.30 in closing at $36.30 trading 34 shares. Jamaican Teas increased 10 cents to $3.99 with an exchange of 765,118 stock units, KLE Group fell 15 cents in ending at $2.80 after exchanging 17,063 stock units, Lasco Financial popped 7 cents in closing at $3.03 with 59,980 shares changing hands. 
Limners and Bards lost 7 cents to close at $3.42 with an exchange of 40,153 units, Lumber Depot declined 9 cents to end at $2.90 after an exchange of 435,151 stocks, Main Event dropped 40 cents in closing at $3.98, with 32,127 units clearing the market. Spur Tree Spices fell 13 cents to $2.15 in trading 8,566,940 shares, SSL Venture popped 40 cents in ending at a 52 weeks’ high of $1.30 after exchanging 187,244 stock units and tTech declined 20 cents to close at $4 with 6,760 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big surge in Junior Market on Thursday
The Jamaica Stock Exchange Junior Market index surged more than 114 points in early trading on Thursday and ended lower but with a healthy increase of 66.87 points, to end at 3,569.62, with the volume of stocks trading declining 52 percent and the value dropping 56 percent from Wednesday’s healthy 55 million units at nearly $200 million.
All 43 securities listed on the Junior Market traded on Thursday, up from 41 on Wednesday and ended with 18 rising, 17 declining and eight ending unchanged.
A total of 26,022,456 shares traded for $87,517,746 down from 54,515,428 units at $197,029,437 Wednesday. Spur Tree Spices led trading with 15.23 million shares for 58.5 percent of total volume, but the stock price pulled back from Wednesday’s record, followed by Express Catering with 2.87 million units for 11 percent of the day’s trade and Future Energy Source, 1.35 million units for 5.2 percent market share and Lumber Depot, 1.32 million units changing hands for 5.1 percent market share.
Trading averaged 605,173 shares at $2,035,296 compared to 1,329,645 shares at $4,805,596 on Wednesday, with the month to date, averaging 326,758 units at $1,265,884, versus 302,573 units at $1,199,046 on the previous day. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and two stocks with lower offers.
The PE Ratio, a measure used to compute appropriate stock values, averages 16. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
At the close, Access Financial dropped $2.99 to end at $25.01 in exchanging 24,256 shares, AMG Packaging declined 20 cents to $3.10 trading 105,055 units, Blue Power popped 40 cents to close at $3.51 in an exchange of 6,121 stock units. CAC 2000 fell 50 cents to $7.50, with 312 stocks clearing the market, Caribbean Cream advanced 15 cents to $5.15 in trading 67,156 stocks, Caribbean Flavours increased 7 cents to end at $1.97, with 9,500 stock units changing hands. Dolphin Cove lost 50 cents in closing at $20 after 516,957 units crossed the exchange, Express Catering shed 25 cents to $5.35 trading 2,865,794 shares, Future Energy Source climbed 20 cents to close at $3.20 while exchanging 1,345,148 stocks. GWest Corporation rose 10 cents and ended at $1 as 460,890 stock units crossed the market, Honey Bun declined 35 cents to $9.45 after exchanging 11,532 shares, Iron Rock Insurance shed 20 cents to $2.90, with 1,600 units crossing the market. ISP Finance rallied $3 to end at $33 with an exchange of 120 stocks, Jamaican Teas gained 8 cents in closing at $3.89 after exchanging 698,854 shares, Lasco Distributors advanced 10 cents to close at $3.23 in switching ownership of 184,220 units.
Lasco Financial dropped 32 cents to $2.96 after 34,587 stock units changed hands, Lasco Manufacturing fell 10 cents to $4.55 with the swapping of 123,866 stock units, Main Event rose 40 cents to close at $4.38 with an exchange of 6,491 shares. Spur Tree Spices lost 37 cents in closing at $2.28 after exchanging 15,232,910 stock units, SSL Venture lost 8 cents to end at 90 cents, with 206 units crossing the exchange and tTech rallied 15 cents in closing at $4.20 trading 5,699 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Huge trading day for Junior Market stocks
The Jamaica Stock Exchange Junior Market sprang into serious action on Wednesday, with the overall volume of the market surging 182 percent after 240 percent more funds entered the market than on Tuesday and leading to a minor fall in the market index as Spur Tree Spices and Express Catering controlled 86 percent of the volume of stocks traded.
A total of 41 securities traded on Wednesday similar to Tuesday and ended with 18 rising, 13 declining and 10 closing unchanged. At the close, the Junior Market Index shed 15.44 points to settle at 3,502.75.
The PE Ratio, a measure used to compute appropriate stock values, averages 15.8. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
A total of 54,515,428 shares traded for $197,029,437 versus 19,336,528 units at $57,883,987 on Tuesday. Spur Tree Spices led trading with 25.67 million shares for 47.1 percent of total volume followed by Express Catering, 21.21 million units for 38.9 percent of the day’s trade and iCreate with 1.47 million units for 2.7 percent market share. Future Energy Source was the only other stock to exceed a million shares and ended with 1.27 million units changing hands for 2.3 percent market share.
Trading averaged 1,329,645 shares at $4,805,596 up from 471,623 shares at $1,411,805 on Tuesday with month to date, averaging 302,573 units at $1,199,046, compared to 209,819 units at $873,344 previously. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial climbed $4.50 to a 52 weeks’ high of $28 in an exchange of 11,960 shares, AMG Packaging dropped 30 cents to close at $3.30 after exchanging 185,768 stock units, Dolphin Cove popped 51 cents in closing at $20.50 in trading 520,727 units. Elite Diagnostic rallied 24 cents to $3.49 while exchanging 319,675 stocks, Fosrich increased 14 cents to end at $12, with 55,399 stocks crossing the market, GWest Corporation lost 10 cents in closing at 90 cents after an exchange of 5,487 units. Honey Bun rose 32 cents to $9.80, with 93,959 shares changing hands, Indies Pharma fell 15 cents to $3 in trading 144,474 stock units, Iron Rock Insurance declined 15 cents after ending at $3.10 with an exchange of 3,000 stock units. ISP Finance shed $8 to close at $30 in exchanging 1,900 units, KLE Group advanced 38 cents to $2.93 in switching ownership of 3,600 shares, Lasco Distributors dropped 17 cents to $3.13 clearing the market with 652,520 stocks. 
Limners and Bards gained 10 cents to close at $3.49 after trading 17,843 stock units, Medical Disposables fell 45 cents in closing at $7.50 with the swapping of 2,112 shares, Spur Tree Spices advanced 33 cents to end at 52 weeks’ high of $2.65 and closed with 25,673,548 stocks changing hands and tTech declined 25 cents in closing at $4.05 after exchanging 2,059 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Spur Tree spices up 132% since listing
Newly listed, Spur Tree Spices, rallied 30 percent in trading on Tuesday for a third consecutive day to gain 132 percent since the IPO in December, on the Jamaica Stock Exchange Junior Market, with investors exchanging nearly 11 million of the company’s shares in pushing the volume of stocks trading for the day up 92 percent and the value 80 percent higher than on Monday as the market index closed 15.21 points higher to 3,518.19.
Market activity led to 41 securities trading compared to 39 on Monday and ended with 17 rising, 16 declining and eight, closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 15.2. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 19,336,528 shares traded for $57,883,987 up from 10,061,196 units at $32,241,574 on Monday. Recently listed Spur Tree Spices led trading with 10.69 million shares in controlling 55.3 percent of total volume followed by Lasco Manufacturing with 2.36 million units for 12.2 percent of the day’s trade and Future Energy Source with 1.57 million units for 8.1 percent market share.
Trading averaged 471,623 shares at $1,411,805 in contrast to 257,979 shares at $826,707 on Monday and month to date, averaging 209,819 units at $873,344, compared to 183,829 units at $819,889 on Monday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial rose $2.75 ending at $23.50, the highest price since January 2021, with the swapping of 20,246 shares, AMG Packaging shed 5 cents to end at $3.60, with 535,137 stock units crossing the exchange, Blue Power declined 25 cents in closing at $3.10 after 23,354 units changed hands. CAC 2000 fell 30 cents to close at $8 while exchanging 2,401 stocks, Caribbean Assurance Brokers dipped 8 cents to $2.95 after trading 183,124 units, Caribbean Cream lost 30 cents to close at $5, with an exchange of 177,936 stocks. Fontana gained 10 cents in closing at $7.70 trading 86,777 stock units, Future Energy Source lost 6 cents after ending at $2.93 in exchanging 1,568,726 shares, General Accident popped 31 cents to $6.30, with 301 stocks clearing the market. Honey Bun climbed 28 cents to end at $9.48 in exchanging 39,155 shares, Indies Pharma rallied 15 cents to end at $3.15, with 60,470 units crossing the market, Iron Rock Insurance shed 16 cents at $3.25 with an exchange of 1,630 stock units. Jamaican Teas dropped 6 cents in closing at $3.79, with 430,951 stock units changing hands, Lasco Distributors advanced 5 cents to close at $3.30 in exchanging 35,410 units, Lasco Manufacturing gained 5 cents to end at $4.70 in switching ownership of 2,355,566 shares. 
Mailpac Group advanced 6 cents to $3.36 in an exchange of 403,848 stocks, Main Event fell 40 cents to $3.90 trading 26,432 stocks, Medical Disposables increased $1.84 to a 52 weeks’ high of $7.95, with 29,190 stock units crossing the exchange. Spur Tree Spices rallied 57 cents to end at $2.32 in trading 10,690,992 units and Stationery and Office Supplies popped 10 cents to close at $5.75 finishing at 5,105 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Spur Tree up 75% pushes Junior Market higher
Spur Tree Spices on the second day of trading on the Jamaica Stock Exchange Junior Market closed at a record $1.75 to be up 75 percent from the IPO price, with only a small fraction of the more than 23 million shares that were placed on the bid at $1.72 before trading opened on Monday, or the more than 29.6 million on the bid at a few minutes after 11 o’clock in the morning after 1.37 million shares were traded, at the close the bid ended at $1.75 to purchase 17.2 million shares, with just 24,113 on offer at $1.76.
Market activity ended with 39 securities trading compared to 40 on Friday, with the volume of stocks traded declining 49 percent and the value down by 74 percent from Friday activities. At the close 16 stocks gained, 15 declined and eight traded unchanged.
The Junior Market Index jumped 32.81 points to settle at 3,502.98. The PE Ratio, a measure used to compute appropriate stock values, averages 14.8. The PE ratios stocks in the chart below are based on ICInsider.com earnings forecast for companies with financial year ends up to August 2022.
A total of 10,061,196 shares traded for $32,241,574 down from 19,875,289 units at $123,323,735 on Friday. Future Energy Source led trading with 1.93 million shares for 19.2 percent of total volume followed by Lumber Depot with 1.72 million units for 17.1 percent of the day’s trade and Spur Tree Spices with 1.37 million units for 13.6 percent market share.
Trading averaged 257,979 shares at $826,707 in contrast to 496,882 shares at $3,083,093 on Friday with the month to date, averaging 183,829 units at $819,889, compared to 176,097 units at $819,178 on the previous day of trading. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three stocks with lower offers.
At the close, Access Financial rose 75 cents ending at $20.75 with the swapping of 199,203 shares, as some of the long overhanging of selling seem to be easing, AMG Packaging advanced 25 cents in closing at a 52 weeks’ high of $3.65, with 410,066 stocks changing hands after posting an increase of 146 percent in profits for the first quarter to November after trading on Friday. Caribbean Cream lost 59 cents to $5.30 while exchanging 207,038 units as investors reacted negatively to a loss in the company’s November quarterly results. Consolidated Bakeries declined 23 cents to close at $1.10 after 281,574 stock units crossed the market, Dolphin Cove gained 95 cents to end at $20 in trading 130,426 shares, Express Catering climbed 31 cents to $5.51 trading 23,600 stocks. Fontana increased 20 cents to end at $7.60 in exchanging 182,312 stock units, Fosrich dropped 10 cents in closing at $11.89 after 13,625 units changed hands, General Accident shed 30 cents to close at $5.99 in an exchange of 3,300 stocks. Honey Bun popped 20 cents to $9.20, with 30,034 units crossing the exchange, Lasco Distributors rallied 15 cents to close at $3.25 after exchanging 57,411 stock units, Mailpac Group rose 20 cents to $3.30 with an exchange of 274,246 shares. 
Medical Disposables fell $1.29 to end at $6.11 with 31,057 shares changing hands, Spur Tree Spices rallied 43 cents ending at a 52 weeks’ high of $1.75 as 1,369,946 units traded and Stationery and Office Supplies fell 20 cents in closing at $5.65, with 6,830 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
3 new ICTOP10 listings as Spur Tree exists
The Junior Market ICTOP10 stocks have three new listings in a week that saw Spur Tree Spices trading for the first time on Friday with the price climbing to $1.32 for a rise of 32 percent since the Initial Public offer at the end of 2021, there are no new Main Market listings.
Other stocks that were in the spotlight this past week were ones that lasted off to record new all-time highs and include AMG Packaging, Caribbean Assurance Brokers, Caribbean Producers and Dolphin Cove a TOP10 contender up to the week ending December 2, also hit a 52 weeks’ high of $23.50 this past week to be up more than 100% since it came into the top flight in August last year at $9.86.
With the rise in the price of Spur Tree Spices, the stock is one of four to move out of the TOP10, followed by Medical Disposables that 16 percent for the week and Caribbean Cream that reported terrible third quarter results with a loss being made in the period as revenues climbed 14 percent in the quarter. Coming into the TOP10 are Lumber Depot, Fontana and General Accident.
Junior Market, AMG Packaging rose a strong 45 percent, ahead of the first quarter results to November that showed profit after tax jumping a big 146 percent over 2020. Investors can expect more gains to come this coming week as the stock traded up $3.90 last week. Caribbean Assurance Brokers climbed to a new 52 weeks’ high during the week and closed $3.12 up 26 percent, Access Financial Services continues to seesaw and recovered 17 percent to $20 this past week and Elite Diagnostic gained 8 percent to $3.18.
The sharp price movements in the Junior Market reduced the potential gains markedly, with the average gains projected for the TOP 10 Junior Market stocks now 122 percent versus 148 percent last week.
The top three stocks are Access Financial Services followed by Lasco Distributors and Caribbean Assurance Brokers can gain between 124 and 160 percent, sharply down from 182 and 204 percent, previously.
Major Main Market TOP10 moving stocks are Caribbean Producers up 7 percent, to $15.99 and Radio Jamaica rallying 7 percent to $3.45 as increased buying interest came in for the stock.
The potential gains for Main Market stocks moved from 146 percent to this weeks’ 144 percent this week, with top three Main Market stocks being Guardian Holdings followed by JMMB Group and Radio Jamaica all projected to gain between 161 and 257 percent up from 199 and 258 percent last week.
The Junior Market closed the week, with an average PE of 14.7 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. 
The TOP 10 stocks trade at a PE of a mere 9.1, with a 38 percent discount to that market’s average.
The Junior Market can gain 36 percent to March this year, based on an average PE of 20 and 16 percent based on an average PE of 17. Eleven stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level averaging 25.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.5 representing a 48 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Spur Tree Spices gains 32% on listing debut
Newly listed Spur Tree Spices gained 32 percent after climbing 32 cents to an all-time high of $1.32 after exchanging 56,569 stocks on the first day listed on the Jamaica Stock Exchange Junior Market on Friday and helping the overall volume of stocks traded to jump 234 percent and the value surging 326 percent higher than on Thursday after nearly 13 million units of Fontana shares passed through the market with a value of $96 million.
A total of 40 securities trading compared to 35 on Thursday and ended with 14 rising, 15 declining and 11, closing unchanged.
At the close, the Junior Market Index lost 13.25 points to end at 3,470.17.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.7 The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Some 19,875,289 shares traded for $123,323,735 compared to 5,944,460 units at $28,932,503 on Thursday. Fontana led trading with 12.91 million shares for 65 percent of total volume followed by Lumber Depot with 1.46 million stock units for 7.3 percent of the day’s trade and iCreate with 1.09 million units for 5.5 percent market share.
Trading averaged 496,882 shares at $3,083,093 in contrast to 169,842 shares at $826,643 on Thursday with the month to date averaging 176,097 units at $819,178, compared to 137,680 units at $548,051 on Thursday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and four closed with lower offers.
At the close, Access Financial rallied 89 cents to end at $20, with 8,659 shares crossing the exchange, AMG Packaging popped 17 cents in closing at a 52 weeks’ high of $3.40 while exchanging 240,608 units, Blue Power shed 30 cents ending at $3.35 in an exchange of 156 stock units. CAC 2000 rose 30 cents to $8.30 after exchanging 100 stocks, Caribbean Assurance Brokers advanced 11 cents to close at a 52 weeks’ high of $3.12 in switching ownership of 225,543 units, Caribbean Cream lost 11 cents to close at $5.89 in trading 38,557 stocks. Consolidated Bakeries popped 12 cents to $1.33 with 20,609 shares changing hands, Dolphin Cove declined 95 cents to end at $19.05, with 385,686 stock units clearing the market, Elite Diagnostic climbed 9 cents in closing at $3.18 after trading 103,682 stock units. General Accident increased 28 cents in ending at $6.29 after exchanging 20,043 shares, Honey Bun dropped 10 cents in closing at $9 with the swapping of 63,479 units, Indies Pharma fell 19 cents to close at $3.01 in trading 202,836 stocks. Lasco Distributors declined 5 cents to $3.10, with 224,695 units changing hands, Lasco Manufacturing lost 15 cents to end at $4.70 after 5,828 shares crossed the market, Limners and Bards fell 9 cents to $3.40 after an exchange of 451,750 stocks.
Mailpac Group dropped 20 cents to close at $3.10 trading 671,259 stock units, Main Event shed 45 cents in ending at $4.30 with an exchange of 611 units, Medical Disposables fell 10 cents to $7.40 in an exchange of 3,500 shares. Paramount Trading rose 18 cents in closing at $1.48 while exchanging 17,226 stock units, Stationery and Office Supplies rose 10 cents to $5.85 after exchanging 2,752 shares and Tropical Battery inched 5 cents up to $1.28 in switching ownership of 35,902 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market stocks end with sharp jump
Bulls pushed the Jamaica Stock Exchange up sharply in trading on Thursday, with the Market Index surging 62.93 points to settle at 3,483.42, with the volume of stocks traded declining 34 percent and the value falling by 13 percent lower than on Wednesday on a day when rising stocks outdid those declining on a two to one ratio as three stocks high 52 weeks’ highs.
A total of 35 securities traded versus 39 on Wednesday and ended with 17 rising, nine declining and nine ending unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.9. The PE ratio of stocks in the chart below is computed based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
A total of 5,944,460 shares traded for $28,932,503 down from 8,986,092 units at $33,239,994 on Wednesday. Caribbean Assurance Brokers led trading with 1.6 million shares for 26.9 percent of total volume as the price ended at a 52 weeks’ high of $3.01. Lumber Depot followed, with 749,354 units for 12.6 percent of the day’s trade and Limners and Bards with 692,009 units for 11.6 percent market share.
Trading averaged 169,842 shares at $826,643, compared to 230,413 shares at $852,308 on Wednesday and the month to date, averaging 137,680 units at $548,051 versus 133,915 units at $515,440 on Wednesday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial jumped $1.51 to end at $19.11 in switching ownership of 1,000 shares, AMG Packaging climbed 38 cents to end at a 52 weeks’ high of $3.23 with an exchange of 274,387 stock units, Blue Power increased 26 cents to $3.65 after trading 2,000 stocks. Caribbean Cream rallied 80 cents to close at $6 after 47,952 units changed hands, Dolphin Cove gained 40 cents to end at a 52 weeks’ high of $20, with 589,607 stocks clearing the market, Elite Diagnostic popped 11 cents in ending at $3.09 after trading 92,188 shares. Express Catering fell 15 cents to close at $5.20 after an exchange of 85,633 units, Fontana rose 15 cents in closing at $7.40 trading 51,622 stock units, Fosrich spiked 50 cents to end at $12, with 19,555 stock units crossing the market. Honey Bun lost 38 cents to end at $9.10 in exchanging 86,553 shares, Lasco Manufacturing advanced 35 cents in closing at $4.85 with 11,046 units crossing the market, Limners and Bards declined 21 cents in ending at $3.49 with the swapping of 692,009 stocks. 
Mailpac Group dipped 10 cents to $3.30, with 308,749 stocks changing hands, Medical Disposables rallied 80 cents to end at $7.50 in an exchange of 13,323 units and tTech shed 40 cents to close at $4.30 in trading 2,820 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE Junior Market
Trading closed on Wednesday, with the volume of stocks traded jumping 92 percent higher and the value rising 100 percent higher than on Tuesday leading to rising stocks outdistancing those falling at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 39 securities trading, up from 35 on Tuesday and ended with 15 rising, 12 declining and 12 closing unchanged as the Junior Market Index advanced 19.83 points to 3,420.49. The PE Ratio, a measure used to compute appropriate stock values, averages 14.8. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Trading saw an exchange of 8,986,092 shares for $33,239,994, up from 4,676,723 units at $16,609,083 on Tuesday. Lasco Manufacturing led trading with 3.44 million shares for 38.3 percent of total volume followed by Consolidated Bakeries with 1.09 million units for 12.1 percent of the day’s trade and Limners and Bards, 653,067 units, with 7.3 percent market share.
Trading averaged 230,413 shares at $852,308 compared to 133,621 shares at $474,545 on Tuesday and month to date, an average of 133,915 units at $515,440, compared to 119,440 units at $464,910 on Tuesday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two stocks with lower offers.
At the close, Access Financial popped 51 cents to end at $17.60 after an exchanging of 1,036 shares, AMG Packaging increased 23 cents ending at $2.85 after trading 318,761 stock units, CAC 2000 gained 30 cents in closing at $8 while exchanging 1,110 stock units. Caribbean Assurance Brokers climbed 23 cents to a 52 weeks’ high of $2.97 with 197,240 units changing hands, Caribbean Cream declined 55 cents to close at $5.20 after trading 37,054 stock units, Derrimon Trading lost 6 cents to close at $2.17 with 208,244 shares crossing the market. Dolphin Cove rose 40 cents to close at a 52 weeks’ high of $19.60 in exchanging 249,869 stocks, Express Catering dropped 5 cents in closing at $5.35 trading 63,402 units, General Accident shed 35 cents in ending at $6 with 34,138 stocks crossing the market. Honey Bun fell 21 cents to $9.48 in switching ownership of 70,350 shares, Iron Rock Insurance popped 31 cents to close at $3.41 following an exchange of 2,013 units, Jamaican Teas dropped 7 cents in closing at $3.90 after 168,702 stock units cleared the market. 
Jetcon Corporation advanced 7 cents to 92 cents as 15,073 units changed hands, KLE Group rallied 5 cents to $2.55 with an exchange of 1,077 stock units, Knutsford Express climbed 45 cents to end at $8 in trading 8,237 shares. Lasco Distributors fell 5 cents to end at $3.15 with the swapping of 163,671 stocks, Lasco Financial declined 5 cents to $3.29, with 4,619 stocks changing hands, Lasco Manufacturing shed 9 cents in closing at $4.50 after an exchange of 3,442,151 stock units. Main Event increased 25 cents to $4.75 in exchanging 17,000 units and tTech gained 45 cents to close at $4.70, with 3,500 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sharp rebound for Dolphin Cove
In March 2020, Jamaica closed its borders to incoming visitors by planes and ships as a result of the emergence of the deadly Covid-19 virus, thus bringing to a halt the important tourist industry and many others that relied on it.
The impact was immediate and devastating to the entertainment attraction entity, Dolphin Cove based in Ocho Rios, with locations on the north coast of the island. For the nine months to September 2020, the company posted revenues of just US$3.6 million and a loss of $864 million, with the September quarter generating revenues of just $320,000 and a loss of $590,000. By the third quarter last year, cruise shipping from which it generates a large portion of income had just 8,381 visitors in 2021 compared to 219,000 for the first nine months of 2019, but visitor arrivals by planes were back to 70 percent of the 2019 numbers for the third quarter and 54 percent in the June quarter and by November last year arrivals were down around 20 percent from the same month in 2019, an indication that the industry could well be nearly back on track in 2022 and provide a considerable boost to the company’s revenues.
Dolphin Cove closed at a 52 weeks’ high on Monday.
The company lost US$1.13 million for 2020, but chalked up a profit of $1 million in the 2021 third quarter, from $2.57 million in operating revenues, and a profit of $2.1 million for the nine months from operating revenues of $5.44 million. While revenues rose 51 percent in the nine months, expenses fell from $3.5 million to $2.9 million, with all categories of cost falling except for finance that rose from $96,000 to $215,000. Although operating revenues spiked 703 percent over the measly income for September 2020 quarter, direct expenses rose 61 percent to $258,000 and other operating expenses rose 139 percent from $548,000 to $1.31 million. The above numbers suggest that costs are down generally, it appears that some costs may have been fully trimmed from the system.
Gross cash flow brought in $2.5 million but growth in working capital, addition to fixed assets resulted in negative funds flow of $149,000 for the nine months. At the end of September, shareholders’ equity stood at US$29 million. Total long term borrowings amount to US$820,000 with bank overdraft at $1 million. Current assets ended the period at $6 million including trade and other receivables of $2.7 million, cash and bank balances of $2 million. Current liabilities ended the period at $2.6 million. Net current assets ended the period at $2.4 million.
At the end of December, the stock traded at $15 with a PE of 11 with the earnings per share of $1.35 and a PE of 5 with ICInsider.com projected earnings of $3 for the current year.
