Caribbean Producers surges in ICTOP 10
Caribbean Producers raced to the top of ICTOP10 listings this week after the company released full year results that showed a loss, but with the final quarter posting a profit of US$2 million before exceptional onetime cost and resulting IC Insider.com upgrading earnings from 65 cents per share to a $1.20 for the current year.
Based on years of underperformance and the knock from the closure of the hotel industry last year, many investors thought this stock was a lost cause. Based on research and understanding of the business sector, this publication had the stock the number three position on the Junior Market Top 10 list at the start of the year, just behind Caribbean Cream. 
So far to October, CPJ gained 90 percent and should exceed 100 percent this coming week and Caribbean Cream is up 67 percent ahead of second quarter results due in two weeks. Another TOP 15 stock this year, Caribbean Cement, surged on Friday to close at $120 after trading at a record high of $146.12, just short of IC Insde.com forecast in April this year in the report, captioned “Carib Cement Q1 profit triples” that the stock that last traded at $75 on the Main Market of the Jamaica Stock Exchange is projected to get to $150 in the next twelve months.
While the Jamaican stock markets continued to bounce around, the past week saw clearer signs of the upward momentum returning, with the Barita Investments APO issue out of the way. Bank of Jamaica’s raise its overnight rate to 1.5 percent from 0.50 percent and the tightening of the financial market continued with CD rates averaging 2.59 percent during the past week.
Elsewhere, in the Junior Market, AMG Packaging fell from $2.10 to $1.70, Stationery and Office Supplies rose from $5.76 from $6.49, Access Financial rose from $18.75 to $20, General Accident rose from $5.15 last week to $5.45, Medical Disposables rose from $4.46 to $5.15, Caribbean Assurance fell from $1.80 to $1.66 and Caribbean Cream moved up to $7 from $6.60 last week. In the Main Market, Caribbean Producers rose from $4.65 to $5.50 on Friday.
The top three Main Market stocks are Caribbean Producers, Berger Paints, followed by Guardian Holdings, with expected gains of 216 to 336 percent for the three, versus last weeks’ 208 to 263 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by General Accident and Lasco Financial. All three have the potential to gain between 217 and 300 percent, from 250 percent and 307 percent last week.
This past week, the average gains projected for the TOP 10 Junior Market stocks moved from 214 percent to 203 percent and Main Market stocks moved from 166 percent to 180 percent.
The Junior Market closed the week with an average PE 12.7 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the historical average of 17 for the period to March this year, based on 2020 earnings. The TOP 10 stocks trade at a PE of 6.7, with a 53 percent discount to that market’s PE. The overall Junior Market can gain 57 percent to March next year, based on an average PE of 20 and 34 percent based on an average PE of 17.
The JSE Main Market ended the week with an overall PE of 15.7, a little distance from 19 the market ended at in March, suggesting a 27 percent rise at a PE of 19 and 21 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.6, with a 49 percent discount to the PE of that market, well off the potential of 20.
ICTOP10 is not intended to be a selection of the best stocks in the market but the most likely to be the biggest winners within fifteen months. ICInsider.com ranks stocks to separate the bigger winners from the rest, allowing investors to focus on potentially huge gains, helping to keep out emotional attachments to stocks that often result in the making of 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 possible increases 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.
As was the case on Thursday, trading ended with seven securities changing hands, with prices of four rising, one declining and two ending unchanged.
Margaritaville popped 0.6 of a cent to 11 US cents after trading 1,000 units, Proven Investments rose 0.7 of one cent to close at 24.7 US cents after trading 884,152 stocks. Sterling Investments remained at 2.09 US cents, 781 stock units crossing the exchange, Sygnus Credit Investments US$ share rose 0.01 of a cent to 13 US cents, 21,761 stocks changing hands and Transjamaican Highway rallied 0.01 of one cent to 0.97 US cents after trading 50 shares.
The All Jamaican Composite Index declined 202.09 points to 456,489.84, the Main Index shed 312.21 points to 414,577.75 and the JSE Financial Index lost 0.64 points to end at 101.04.
At the close, Barita Investments dived $4.84 to$103.25 after trading 623,197 shares, Berger Paints lost 48 cents to end at $14 in switching ownership of 59,491 stock units, Caribbean Cement spiked $8, in closing at $120 with 29,739 stocks clearing the market after the price hit a record $146.12 in mid-morning trading. Caribbean Producers rose 75 cents to $5.50 in exchanging 568,310 units, Eppley dropped $7.50 to finish at $32.50 with a transfer of 3,144,676 shares, Eppley Caribbean Property Fund fell $4.25 to $42.50 in an exchange of 1,100 stocks. First Rock Capital lost 30 cents in closing at $13 with 8,977 shares crossing the exchange, GraceKennedy popped 20 cents to $99.20, after 1,815,401 units crossed the market, Guardian Holdings fell $3 to $582, with 5,213 stocks changing hands. Jamaica Producers shed 55 cents to $23.20 in trading 4,491 shares, Kingston Properties rallied 50 cents to settle at $9 with the swapping of 170 stock units, Mayberry Jamaican Equities rose 74 cents to $9, with 1,262 units changing hands. Palace Amusement surged $130 to $900 in transferring 26 units, PanJam Investment shed $1 to close at $63 after trading 5,320 shares, Proven Investments declined $1.25, to $32.50 with 7,072 stock units changing hands. 
Sagicor Group dipped 70 cents to $57.30, with 31,390 stocks crossing the market, Sagicor Real Estate Fund gained 40 cents to finish at $8.40 in trading 500 stock units, Salada Foods shed 83 cents to close at $6.07 in an exchange of 55,074 stocks. Scotia Group fell $1.15 to $37.60, with 46,115 shares clearing the market, Seprod slipped 59 cents to $62.50 in switching ownership of 4,365 units, Sygnus Credit Investments lost 37 cents to close at $15.98 with the swapping of 82,282 stocks and Victoria Mutual Investments lost 20 cents after ending at $5.45 in trading 35,256 shares.
Market activity led to 36 securities trading compared to 34 on Thursday and ended with 10 rising, 18 declining and eight, closing unchanged.
At the close, Access Financial popped $2.90 to $20 with the swapping of 2 shares, AMG Packaging climbed 9 cents to $1.70, with 185,800 stock units crossing the market, Blue Power rallied 40 cents to $3.37 in switching ownership of 25,998 units. Cargo Handlers rose 79 cents to $7.79 after exchanging 447 stocks, Caribbean Cream spiked $1.01 to $7 while exchanging 50,966 shares, but the stocks had 100000 units on offer at $6.50 at the close, Consolidated Bakeries fell 10 cents to $1.70, with 2,488 stocks crossing the exchange. Dolphin Cove gained 14 cents to end at $10, with 958 stock units changing hands, Elite Diagnostic dropped 5 cents to close at $3 after exchanging 247,582 units, Fontana lost 9 cents in closing at $6.50 with an exchange of 33,339 stocks. Future Energy Source declined 16 cents to $2.70 in exchanging 730,160 shares, General Accident rose 15 cents to $5.45 1n trading 3,693 stock units, Indies Pharma shed 52 cents to end at $3.23 with 1,070 units changing hands. ISP Finance popped $1.50 to close at $25, with 500 stock units clearing the market, Jamaican Teas shed 10 cents to $4 in an exchange of 4,701,946 units, Jetcon Corporation lost 15 cents after ending at $1.01 and trading 19,000 stocks. 
Lasco Distributors fell 49 cents to $3.50, with 23,144 shares crossing the market, Lasco Manufacturing declined 30 cents to end at $4.50 after swapping 22,583 shares, Limners and Bards dropped 35 cents to $3.50 in trading 15,895 stocks. Mailpac Group fell 6 cents to $3.84 after exchanging 418,371 stock units, Main Event lost 8 cents to close at $4.20 while trading 1,037 units and Medical Disposables climbed 15 cents to $5.15 after 46,950 units crossed the market.
Jamaica’s sole cement producer Caribbean Cement hit a record high of $147.12 in today’s early trading and was suspended after the JSE circuit breaker was triggered. The stock, which closed on Thursday at $112, has risen 31 percent for the day. 
Productive Business Solutions gained 15 cents to 90 US cents with two stocks changing hands. Proven Investments rallied 1 cent to close at 24 US cents, with the swapping of 25,215 stock units, Sterling Investments advanced 0.09 of a cent to 2.09 US cents with 720 units passing through the market, Sygnus Credit Investments USD share declined by 0.01 of a cent to end at 12.99 US cents with a transfer of 12,208 stocks and Transjamaican Highway lost 0.01 of a cent to close at 0.96 US cents with 10,000 shares crossing the exchange.
The market closed lower than August, measured by the market indices but recorded gains for a fifth straight day, with the All Jamaican Composite Index climbing 4,591.49 points on Thursday to 456,691.93. The Main Index gained 3,991.06 points to end at 414,889.96 and the JSE Financial Index popped 0.96 points to end at 101.68.
Trading averages 356,664 units at $7,866,600, compared to 364,516 shares at $3,267,741 on Wednesday and month to date, an average of 335,669 units at $7,507,338, compared to 334,642 units at $7,489,764 on Wednesday. August closed with an average of 480,039 units at $8,561,549.
PanJam Investment climbed $1 to $64 after trading 7,022 units, Portland JSX rose $1 to close at $9 in exchanging 1,670 stocks, Proven Investments popped $1.59 to $33.75 in switching ownership of 17,756 units. Sagicor Group advanced $2 to $58 with 1,047,226 shares clearing the market, Sagicor Real Estate Fund shed 50 cents to $8 after 5,485 stock units crossed the market, Salada Foods rose 75 cents in closing at $6.90 with the swapping of 60,713 shares. Scotia Group gained 35 cents to finish at $38.75 after exchanging 33,237 stocks, Stanley Motta picked up 23 cents to $5.80 in switching ownership of 87,104 units and Sygnus Credit Investments rose 85 cents to $16.35 with 270,538 stock units crossing the exchange.
Margaritaville rose 1.4 cents to finish at 10.4 US cents with investors switching ownership of 234 stocks, Proven Investments dropped 0.15 of a cent to end at 23 US cents with an exchange of 103,455 stock units. Sterling Investments declined by 0.09 of a cent to close at a 52 weeks’ low of 2 US cents with 189 units passing through the market, Sygnus Credit Investments USD share gained 1.24 cents to settle at 13 US cents with a transfer of 500 shares and Transjamaican Highway remained at 0.97 US cents with 207,933 stocks crossing the exchange.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and three with lower offers.
Pulse Investments gained 23 cents to close at $4.93 with an exchange of 3,890,553 shares, Sagicor Group advanced $2 to $56 in transferring 152,988 stocks, Scotia Group declined 60 cents to end at $38.40 in switching ownership of 85,570 units. Seprod lost 20 cents to close at $63.10 with 120,483 shares crossing the market, Sygnus Credit Investments shed 35 cents to end at $15.50 after 49,632 stock units cleared the market.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and four with lower offers.
Lasco Manufacturing shed 20 cents to end at $4.50, with 33,084 stock units clearing the market, Mailpac Group fell 10 cents to $3.65 while exchanging 499,531 stocks, Main Event popped 10 cents to $4.30 in trading 32,995 stocks. Medical Disposables declined 15 cents to $4.85 with 208,597 shares changing hands, Paramount Trading fell 15 cents to 95 cents, with 125,100 stock units crossing the market, Stationery and Office Supplies popped 20 cents to $6 after trading 7,000 units and tTech shed 25 cents in closing at $4.10 with the swapping of 1,314 units.
