Mayberry’s latest stock picks
Mayberry Investments released their most recent recommendations for 6 Jamaica Stock Exchange listed stocks that they say are BUYS and their closing prices for 19th November.
The stocks selected are considered undervalued by Mayberry and are shown with earnings and PE ratios and comprise:• JMMB Group: $13.91 per share – P/E ratio 7.31 • Jetcon Corporation: $4.97 per share – P/E ratio 12.18 • Jamaican Teas: $4.10 per share – P/E ratio 10.73 • Sterling Investments: $15.50 per share – P/E ratio 8.34 • General Accident Insurance: $3.06 per share – P/E ratio 6.20 • Pulse Investments: $3.90 per share – P/E ratio 4.21
Mayberry indicates, that recent stock splits provide additional buying opportunities as stocks are more liquid and list the following as the candidates to benefit from stock splits.
Paramount Trading, Jamaica Stock Exchange, Cargo Handlers, EPPLEY Limited that will split the it’s $735 priced stock into 150 units, to take effect from the opening of trading on Thursday, December 1.
The Mayberry report also states that company developments that are positive, include the granting of commercial banking licence for the JMMB Group, Initial Public Offerings (IPO’s) to come within the next 3 months that will provide opportunities for new Investments as well as expansion plans at Honey Buns and National Commercial Bank’s record profits.
Stock splits, create more liquidity in the stocks of companies that undertake them. Investors in the Jamaican market have driven most of the stocks that have split to full valuation and pushed the vast majority to be amongst the highest valued on the market.
Juniors market trading picks up – Friday
The junior market index fell 7.64 points to end at 2,464.10 on Friday as the prices of 10 stocks rose and 5 declined with 17 securities trading. The gain for the junior market index for the year to date remained at 38 percent.
The volume of stocks traded dropped sharply on Friday with the volume jumped sharply by 165 percent from Thursday’s level and ending with just 1,589,420 units changing hands, valued at $7,836,091, up 239 percent from $2,314,012 on Thursday.
Market activities ended with 9 securities closing with bids higher than their last selling prices and 4 ending with lower offers.
An average of 93,495 units with an average value of $460,947 traded, compared to 50,000 units with an average value of $192,834 on the preceding trading day. The average for the month to date is 129,584 units for an average of $756,133 compared to 132,360 units valued at $778,840 on Thursday and 129,138 units with an average value of $709,705 for October.
In trading activity, AMG Packaging rose $1.10 and closed with 25,000 units changing hands at $20.10, CAC2000 traded 1,600 shares at $4.11 after gaining 11 cents, Cargo Handlers gained 20 cents and closed with 7,320 shares changing hands at $7.80, Caribbean Cream with 225,000 shares changing hands, lost 10 cents to close at $7.20. Caribbean Producers traded 476,500 shares to end with a gain of 18 cents at $3.48, Consolidated Bakeries rose 20 cents in trading 3,055 shares to close at $2.40, General Accident rose 5 cents and closed trading with 32,073 units at $3.15, Honey Bun with 38,833 shares changing hands, added by 20 cents to end at $6. Jamaican Teas traded 4,000 shares and rose 20 cents to close at $4.10, Jetcon Corporation traded 46,554 shares to close at $5.20, Key Insurance traded 1,300 shares and closed at $2.15, Lasco Distributors declined 50 cents and ended with 30,761 shares trading at $6.50. Lasco Financial fell 20 cents and ended with 77,603 shares changing hands at $3, Lasco Manufacturing closed at $4.80 with 512,207 shares changing hands after falling 10 cents. Medical Disposables traded 50,000 shares to close with a loss of 53 cents at $4.25, Paramount Trading rose 10 cents to end at $3.95 with 27,614 shares changing hands and tTech climbed 65 cents and ended with 30,000 shares changing hands at $5.75.
Jamaican$ makes gains on Friday
The Jamaican dollar rose in value in foreign exchange trading on Friday against the United states and Canadian dollars and the pound but slipped versus the euro. Dealers bought the equivalent of US$35,239,711 of all currencies and sold US$31,681,608, compared to US$37,367,097 purchased and US$36,133,436 sold on Thursday.
In US dollar trading, dealers bought US$31,869,568 compared to US$31,042,246 on Thursday. The buying rate for the US dollar rose 8 cents to close at $128.49. A total of US$30,119,910 was sold versus US$30,989,415 on Thursday, with the selling rate falling 3 cents to $129.07. The Canadian dollar buying rate dropped $3.31 to $92.63, with dealers buying C$1,538,306 and selling C$780,325 at an average rate that dived $1.14 to $95.31. The average rate for buying the British Pound dipped 20 cents to $157.13 for the purchase of £1,692,940 while £665,394 was sold with a fall of $1.22 to end at $159.43.
At the end of trading on Friday, dealers sold €80,071 with the selling rate for the Euro, closing with a rise of 20 cents to $137.51, according to data from Bank of Jamaica. Dealers purchased €106,555 of the European common currency at $133.03 after falling $3.25. The US dollar equivalent of other currencies traded, amounts to US$80,504 being bought and selling of US$78,252.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Friday, include a dip in the highest buying rate for the Canadian dollar by $1.77 to $96.83, the lowest selling rate dropped $2 to $90. The highest buying rate for the British Pound dived $4.05 to $159.70, while the lowest selling rate rose $1 to $155. The highest selling rate for the Euro fell $5.75 to $140.05 and lowest selling rate jumped $17.84 to $132.80.
TTSE inch up with 3 stocks rising
Cross listed stocks on the Trinidad & Tobago Stock Exchange TTSE maintained their strong performance on Friday, despite lower share volume than on Thursday. The market closed with 10 securities changing hands compared with 14 on Thursday.
At the close, 3 stocks advanced, 1 declined and 6 traded unchanged as one stock closed at 52-week’s high. Trading activity closed with 300,540 shares changing hands with a value of $6,639,919, in contrast to Thursday’s volume of 1,008,039 with a value of $9,814,776.
The Composite Index advanced 0.20 points to 1,190.52 points, the All T & T Index gained 0.10 points to close at 1,803.93 points, down 7.42 percent year to date and the Cross Listed Index gained 0.05 points to close at 77.15 points and is up 55.83 percent for 2016.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| First Citizens gained 1 cent to close at $33.01 with 250 shares changing hands, National Flour Mills advanced 6 cents to close at $2.56 with 92,443 shares changing hands and Sagicor Financial gained 5 cents to close at a 52 weeks’ high of $7.50 with 800 shares changing hands.
Losses|Market activity resulted in JMMB Group slipping 1 cent, with 40,140 shares changing hands, closed at 90 cents.
Firm Trades| Angostura Holdings with 20,000 shares changing hands, closed at $15.50 with a value of $310,000, Clico Investment Fund closed at $22.60 with 30 shares changing hands, First Caribbean International Bank closed at $8.50 with 26,294 shares changing hands. Grace Kennedy closed at $2.74 with 5,994 shares changing hands, Massy Holdings closed at $50.99 with 113,284 shares changing hands with a value of $5,776,178 and Trinidad & Tobago NGL with 1,305 shares changing hands, closed at $22.64.
Cross listed TTSE stocks up 56%
Trading activity closed with 1,008,039 shares changing hands with a value of $9,814,776, in contrast to Wednesday’s volume of 795,747 with a value of $8,048,155.
The Composite Index advanced 2.02 points to 1,190.32 points, the All T & T Index gained 3.69 points to close at 1,803.83 points, 7.42 percent down year to date and the Cross Listed Index gained 0.04 points to close at 77.10 points and is up 55.73 percent for 2016.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 4 stocks with bid higher than last selling prices and 7 with lower offers.
Gains| JMMB Group gained 1 cent to close at 91 cent with 78,977 shares changing hands, National Enterprises advanced 4 cents on favourable quarterly results to close at $10.55 with 454,545 shares changing hands with a value of $4,795,450. Republic Financial Holdings with 90 shares changing hands closed at $109, up by $1.02 and Sagicor Financial gained 5 cents to close at a 52 weeks’ high of $7.45 with 147,487 shares changing hands, valued at $1,098,778.
< Strong> Losses| strong>Grace Kennedy lost 6 cents to close at $2.74 with 3,400 shares changing hands, Scotiabank lost 1 cent to close at $58.73 with 3,100 shares changing hands, Trinidad & Tobago NGL, with a loss of 4 cents, closed at $22.64 with 1,935 shares changing hands.
Firm Trades | Angostura Holdings with 66,534 shares changing hands, closed at $15.50 with a value of $1,031,290, Clico Investment Fund closed at $22.60 with 1,532 shares changing hands, First Citizens Bank with 893 shares changing hands, closed at $33, First Caribbean International Bank closed at $8.50 with 106,858 shares changing hands with a value of $908,293. Massy Holdings closed at $50.99 with 538 shares changing hands, Prestige Holdings closed at $11 with 142,073 shares changing hands with a value of $1,562,803 and West Indian Tobacco with 77 shares changing hands, closed at $126.90.