The focus this week is the entire Junior Market that remains severely undervalued, notwithstanding that it made up much-lost grounds in the past week. The Lab is the first stock to watch from this sector.
NCB Financial third-quarter results were far from inspiring with operating profit being lower in the quarter than for the prior year’s results, at the close on Friday there was good selling on offer that seems likely to keep a lid on the price for a while. NCB reported Operating profit of $6.46 billion in the June 2019 quarter, down from $8.14 billion in 2018. A $700 million net gain in associated company results eased the difference somewhat.
Barita Investments is back at the record high of $83 it closed at the close on Friday, up from $72 at the end of the previous week. Importantly, supply has mostly dried up except for a block of 1 million units offered by Barita at $98 per share. Shareholders passed the resolution at last week’s extraordinary general meeting for a rights issue that will see 106 million shares or around one for every 15 shares of shares owned offered to shareholders, at an expected price in the $40 region.
Barita eyeing acquisition.
Results for Caribbean Cement are out by but reports indicate that the company reported increased sales for the June quarter but lower profit than in 2018, due mainly to $485 million incurred as foreign currency losses. The company reported 43 cents per share versus 79 cents in the similar quarter in 2018. For the half-year, Carib Cement reported earnings of $1,79 compared to $1.18 in 2018. The company looks like earning $5 per share for the full year with increased second-half sales. Do not look for the price of the stock to move up any time soon, with these results
Jamaica Broilers and Jamaica Producers may not break out just now but there is very limited selling and good news could push them higher at any time. Investors who thought that the sky was the limit for Wigton Windfarm may be having second thoughts with the company posting their full-year results, with earnings excluding foreign exchange gains or losses working out at 5 cents per share going forward. The stock seems poised to remain under $1 for a long time. More selling came for Radio Jamaica in the past week but with first-quarter results due mid-August, the stage could be set for a break beyond the $1.40 price level.
Sygnus Credit Investments is coming into its own with a limited supply of the stock for sale, the price closed at a record high at the close of the past week and may and could move higher this week. investors should continue to watch it. Wisynco Group traded close to $30 in the past week pushing the PE up considerably. It could settle just below the $30 range for a while.
Drax Hall branch of Elite.
The Junior Market finally found its footing in moving solidly higher during the past week to within less than 100 points from the previous record high in 2018. With the entire market severely undervalued, just about all stocks are to be watched. Some are more attractive than others and should enjoy a greater focus.
Blue Power closed on Friday with strong buying interest that suggests higher price ahead arising from a proposed split-up of the company into two separate ones. Caribbean Flavours has a limited supply of stocks for sale and is worth watching. Fontana pulled out of the fall to $7.41, in the previous week as demand pushed the price over $8. The branch in Kingston could influence investors to add the stock to their portfolio. Elite Diagnostic with rising demand and slowing supplies could bounce, having traded at $5. The company’s new Drax Hall branch in St Ann is set to open in August and will add to revenues and profit at a later stage. Elite has more than 387,000 units on offer at $5 and that could constrain upward price movement for some time. Jamaican Teas reported nine months results of 32 cents per share compared with 20 cents last year. Investors reacted positively to the results pushing the stock up to $5, but supply on sale is limited and could encourage more price movement this week. Lasco Financial price bounces around $4.50. The stock is undervalued and should see increased buying interest, with release of June quarter results, due out shortly. 
In 2018, first-quarter results were released on the 17 of July. Lasco Manufacturing released first-quarter numbers on the 31 of July last year and Lasco Distributors released theirs on the 19. The results could move the price of the stocks higher. Limners and Bards climbed 30 cents to settle at a record high of $1.30 with just 100 shares changing hands on the first day of trading, the stock closed with the bid at $1.65 and looks poised to hit $2, the stock was on offer at $2.95 at the close on Friday. Medical Disposables looks poised to move higher and first-quarter numbers will play an important role in further gains and Stationery and Office Supplies hit a record of $12 during the past week and should move higher with little supply offered for sale.
In the past week, the main market continues to hit new record highs, closing the week at an all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered all of the 2019 losses and more and is less than 100 points away from the all-time high of 3,436 points in September last year. Technical indicators point to the record be taken out soon and could happen this week with more results due.
Sterling Investments heads the main market with potential gains of 156 percent followed by Sygnus Credit Investments with 137 percent and Berger Paints in third spot and likely to gain 132 percent by March next year. 
Jetcon Corporation ended trading with 8,200 shares, after rising 5 cents to end at $1.90, Knutsford Express closed 10 cents higher at $11, with 2,973 stock units trading, Key Insurance closed trading of 953 units and gained 20 cents to end at $3.90. KLE Group closed 1 cent higher at $1.73, with 1,155 stock units trading, Limners and Bards climbed 30 cents to settle at a record high of $1.30 with just 100 shares changing hands, Lasco Distributors closed 15 cents higher at $3.15, with 54,500 stock units trading, Lasco Financial gained 1 to end at $4.60, trading 546,846 shares. Lasco Manufacturing ended trading with 41,900 shares, after rising 5 cents to end at $4.25, Medical Disposables climbed 31 cents in exchanging 22,800 shares at $7, Main Event ended with a loss of 1 cent to close at $7.99 with 7,062 stock units changing hands. Paramount Trading closed trading of 35,551 units and gained 22 cents to end at $2, Stationery and Office Supplies fell 1 cent to close at $11 with 5,885 stock units changing hands and tTech climbed 40 cents and exchanged 127 shares at $5.50.
The Jamaica Stock Exchange Junior Market Index surged 85.66 points to end at 3,318.09 on Thursday, the highest close for the year, and the highest point since the latter part of October last year. 
The average volume and value for the month to date amounts to 93,288 units with a value of $337,830 for each security traded, compared to 94,629 units with a value of $334,761 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
General Accident dipped 6 cents in trading of 239,128 units at $4.29. GWest Corporation staged a big recovery since falling to a low a recent low of 70 cents to end trading at $1.55 after rising 30 cents in exchanging 6,300 units. 
The Jamaica Stock Exchange Junior Market Index rose 38.69 points to close at 3,189.88 on Tuesday and sits just 1.8 percent below the opening level for the year and just slightly lower than the close on January 23. 
June ended with an average of 166,169 units at $674,841 for each security traded.
Fontana gained $1.14 to end at $8.45 with 355,933 stock units trading, General Accident dipped 23 cents in trading of 64,972 units at $4.15, iCreate closed trading of 102,500 units and gained 6 cents to end at 66 cents, ISP Finance fell 20 cents in trading of 3,783 units to end at $13.65. Jamaican Teas lost 13 cents in trading 100 shares to close at $4.30, Jetcon Corporation exchanged 73,886 shares to close at $1.60 after falling 20 cents, Lasco Distributors dipped 18 cents in trading of 55,300 units at $3.15, Lasco Manufacturing shed 8 cents in trading of 29,235 units at $4.20. Medical Disposables closed trading of 53,095 units and gained 30 cents to end at $7. Main Event climbed 45 cents and exchanged 12,176 shares at $7, Ironrock Insurance climbed 4 cents and exchanged 500 shares at $3.57, Stationery and Office Supplies climbed 69 cents and exchanged 26,328 shares to end at $9.70 and tTech Limited ended trading of 62,382 shares, after rising 15 cents to end at $5.25.
The Jamaica Stock Exchange Junior Market Index rose 24.98 points to 3,151.19 on Monday as rising stocks edged out declining ones. 
GWest Corporation ended trading with 96,535 shares, after rising 4 cents to end at $1, Honey Bun lost $1.05 cents in trading of 15,660 units at $5. iCreate Limited declined by 10 cents to settle at record low of 60 cents, in trading of 118,800 units, Jamaican Teas ended with a loss of 1 cent at $4.43 with 7,762 stock units changing hands, Lasco Distributors ended trading with 354,542 shares, after rising 13 cents to end at $3.30. Lasco Manufacturing exchanged 243,393 shares after rising 8 cents, to end at $4.28. Main Event lost 15 cents in trading of 13,570 units to close at $6.55 and Paramount Trading ended with a loss of 1 cent at 1.79 with 5,000 stock units changing hands.
In the past week, the main market continues to hit new record highs, closing the week at a near all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered losses suffered in the first half of the month. The market is still consolidating, waiting for profit results to help move it higher as it is currently highly undervalued.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
The Jamaica Stock Exchange Junior Market Index jumped 42.38 points to close at 3,126.21 on Friday as rising stocks beat declining ones 3 to 2.
The average volume and value for the month to date amounts to 86,814 units with a value of $302,918 for each security traded, compared to 89,989 units with a value of $295,131 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
Honey Bun climbed 15 cents and exchanged 1,000 shares at $6.05, iCreate ended with a loss of 1 cent at 70 cents with 102,230 stock units changing hands. Indies Pharma ended trading with 320,470 shares, after rising 1 cent to end at $3.02, Jamaican Teas ended with a loss of 1 cent at $4.44 with 21,911 stock units changing hands, Jetcon Corporation fell 9 cents in trading 2,084 units at $1.80. Lasco Distributors closed 5 cents higher at $3.20, with 38,196 stock units trading. Iron Rock Insurance closed trading of 3,000 units with a gain of 3 cents to end at $3.53, Stationery and Office Supplies declined 1 cent, to close at 9.01, with 58,105 stock units changing hands and tTech ended trading of 27,199 shares, after rising 10 cents to end at $5.10.
June ended with an average of 166,169 units at $674,841 for each security traded.
GWest Corporation closed trading of 171,006 units with a gain of 9 cents to end at 91 cents, Honey Bun dipped 15 cents in trading of 10,000 units at $5.90. iCreate fell 2 cents in trading 9,496 units at 71 cents, Indies Pharma declined 2 cents in trading of 80,365 units to close at $3.01, Jamaican Teas climbed 1 cent in exchanging 19,777 shares at $4.45, Lasco Distributors closed 5 cents higher at $3.15, with 680,499 stock units trading. Lasco Financial ended trading with 104,594 shares, after rising 10 cents to close at $4.60, Medical Disposables declined 23 cents in trading 6,160 units at $6.70, Stationery and Office Supplies shed 48 cents in trading 217,587 units to close at $9.02, tTech shed 25 cents in trading of 6,000 units to end at $5. In the junior market preference segment, Derrimon Trading climbed 5 cents and exchanged 6,114 shares at $2.05.
The Junior Market of the Jamaica Stock Exchange enjoyed a big bounce on Tuesday with the market Index jumping 63.13 points to close at 3,076.53. 
Honey Bun closed 5 cents higher at $6, with 29,579 stock units trading, Indies Pharma shed 5 cents in trading of 272,182 units at $3.01, Iron Rock Insurance shed 15 cents in trading of 4,230 units at $3.35, Jamaican Teas ended trading with 250 shares, after rising 4 cents to end at $4.44, Jetcon Corporation gained 10 cents to end at $1.70 with 137,940 stock units trading. Key Insurance lost 5 cents in trading 12,693 shares to close at 52 weeks’ low of $2.85, Lasco Distributors climbed 10 cents in exchanging 38,962 shares at $3.10, Lasco Financial ended trading with 143,000 shares, after rising 21 cents to end at $4.70, Medical Disposables dipped 16 cents in trading of 1,000 units at $6.93. Main Event ended trading with 10,793 shares, after rising 8 cents to end at $6.40 shares and Stationery and closed 35 cents higher at $9.50, with an exchange of 9,573 stock units.
