Stock losses for JSE US Market

Trading ended with the market declining after investors exchanged 39 percent fewer shares for 32 percent less funds on Tuesday than on Monday, on the Jamaica Stock Exchange US dollar market, resulting from declining stocks dominating market activity.
Trading ended with no stocks rising after five securities changed hands, up from four on Monday and ended with four stocks declining and one remaining unchanged. The JSE US Denominated Equities Index slipped 0.91 points to end at 184.82.
The PE Ratio, a measure that computes appropriate stock values, averages 11.5 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall 110,662 shares traded for US$11,208 compared to 180,46 units at US$16,528 on Monday.
Trading averaged 22,132 units at US$2,242 compared to 45,115 shares at US$4,132 on Monday and month to date averages 93,349 at US$10,315 versus 98,436 units at US$10,892 on Monday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Margaritaville shed 0.25 of a cent to 8.75 US cents with an exchange of 61,940 shares, Proven Investments fell 0.2 of a cent to 22.8 US cents with 9,402 stocks traded, Sterling Investments declined 0.24 of a cent to 1.9 US cents with a transfer of 30,205 units and Sygnus Credit Investments USD share dipped 0.6 of a cent to 12.3 US cents with 7,130 stock units crossing the exchange.
In the preference segment, JMMB Group 6% traded 1,985 shares at US$1.01.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising stocks dominate JSE USD Market

Trading on the JSE USD market closed on Monday, with the volume of shares changing hands rising by 27 percent as the value jumped 337 percent over Friday trades and resulting in more stocks rising than falling.
Trading ended with four securities changing hands, compared to five on Friday, with prices of three rising and one remaining unchanged.
The JSE US Denominated Equities Index rallied by 4.03 points to end at 185.73.
The PE Ratio, a measure that computes appropriate stock values, averages 11.7 based on ICInsider.com’s forecasted earnings for 2021-22.
Overall, 180,461 shares traded for US$16,528 compared to 142,093 units at US$3,779 on Friday.
Trading averaged 45,115 units at US$4,132 compared to 28,419 shares at US$756 on Friday, while the month to date averages 98,436 at US$10,892 versus 101,668 units at US$11,301 on Friday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows no stock ended with the bid higher than the last selling price and one closed with a lower offer.
At the close, Proven Investments advanced by 0.94 of a cent to 23 US cents after trading 2,215 shares, Sterling Investments ended at 2.14 US cents with 51,201 stocks traded, Sygnus Credit Investments US$ share rose 0.4 of a cent to finish at 12.9 US cents with 118,167 stock units changing hands and Transjamaican Highway gained 0.08 of a cent to settle at 0.89 US cents with 8,878 units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Lumber back in ICTOP10

Markets keep bouncing around with no clear direction and could be weight down by a number of factors, including rising interest rates as Bank of Jamaica starts its tightening of the financial market, Barita Investments APO that will drain or divert funds from secondary trading of other stocks and the absence of any other major news that could move stock prices meaningfully. Against this background, there was little movement in and out of the ICTOP10 listings this past week.
Lumber Depot moved back into the ICTOP10 with the price pulling back under $3 and replaced tTech that enjoyed a price bounce from $4.20 last week to $4.50 this past week.
Elsewhere, in the Junior Market, Dolphin Cove rose $1 to $10.15 and Stationery and Office Supplies rose 85 cents to $6.60 and in the Main Market, Berger Paints rose $1.19 to $13.74, JMMB Group fell 76 cents to $35.74, Guardian Holdings dropped $19 to $590 and Grace Kennedy lost $2 to end at $100 as demand for the stock seems lukewarm at this stage of the market, with the third quarter results being a month and a half away and Sygnus Credit Investments rose 84 cents to $16.
The top three Main Market stocks are, Berger Paints followed by JMMB Group and Guardian Holdings, with expected gains of 212 to 257 percent for the three, versus last weeks’ 202 to 290 percent.
The top three stocks in the Junior Market, are Elite Diagnostic, followed by General Accident and Medical Disposables, with all three having the potential to gain between 224 percent and 291 percent, which is similar to last week.
This past week, the average gains projected for the Junior Market, moved from 209 percent to 197 percent and Main Market stocks moved from 170 percent to 173 percent.
The Junior Market closed the week with an average PE of 12 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 as well as the historical average of 17, for the period to March this year, based on 2020 earnings. The TOP 10 trades at a PE of 6.9, with a 42 percent discount to that market’s PE and the potential to rise 67 percent to March next year, based on an average PE of 20.
The JSE Main Market ended the week with an overall PE of 16, a little distance from 19 the market ended at in March, suggesting a 23 percent rise at a PE of 19 and 29 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 52 percent discount to the PE of that market, well off the potential of 20.
ICTOP10 stocks are not intended to be a selection of the best stocks in the market but ones that are most likely to be the best winners within a fifteen months period. ICInsider.com ranks stocks to filter out the bigger winners from the rest, allowing investors to focus on potentially huge winners, helping to keep out emotional attachments to stocks that often result in costly mistakes being made.
 IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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.

Gains for JSE US market to close week

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Trading on the US dollar market of the Jamaica Stock Exchange ended on Friday with the index advancing after investors exchanged 97 percent fewer shares than on Thursday, with 99 percent less value, resulting in an even number of stocks rising and falling.
Similar to Thursday, trading on Friday ended with five securities changing hands, with the prices of one rising, one declining and three remaining unchanged.
The US Denominated Equities Index popped 1.44 points to end at 181.70.
The PE Ratio, a measure that computes appropriate stock values averages 11.5 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 142,093 shares traded for just US$3,779 down from 4,784,977 units at US$360,436 on Thursday. Trading averaged 28,419 units at US$756 versus 956,995 shares at US$72,087 on Thursday, with an average of 101,668 shares at US$11,301, month to date, versus 107,672 units at US$12,166 on Thursday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital fell 0.5 of a cent to 7 US cents with an exchange of 8,000 shares, Margaritaville remained at 9 US cents with 9,000 units traded, Proven Investments rose 0.04 of a cent to finish at 22.06 US cents with 1,938 stocks changing hands. Sygnus Credit Investments USD share settled at 12.5 US cents with the switching ownership of 8,155 stock units and Transjamaican Highway finished trading at 0.81 US cents with 115,000 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

First Rock Capital drives trading volume

First Rock Capital traded over 4.7 million stock units on the JSE USD market on Thursday, driving the volume of shares changing hands up by 6,728 percent, while the value surging 2925 percent above Wednesday’s levels and had a hand in rising stocks just outnumbering falling ones.
Five securities traded compared to four on Wednesday, with the prices of two rising, one declining and two closning unchanged. The US Denominated Equities Index inched 0.24 points higher to 180.26. The PE Ratio, a measure that computes appropriate stock values, averages 11.6 based on ICInsider.com’s 2021-22 earnings forecast.
Overall, 4,784,977 shares traded for US$360,436 compared to just 70,076 units at US$11,915 on Wednesday. Trading averaged 956,995 units at US$72,087 compared to 17,519 shares at US$2,979 on Wednesday and month to date averages 107,672 at US$12,166 versus 31,839 units at US$6,816 on Wednesday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital rose half a cent to 7.5 US cents with a solid 4,728,266 shares traded, Margaritaville remained at 9 US cents with an exchange of 41,000 units, Proven Investments dropped 1.38 cents to end at 22.02 US cents with a transfer of 8,700 stock units. Sterling Investments increased by 0.4 of a cent to close at 2.14 US cents with 2,027 stocks changing hands and Sygnus Credit Investments USD stock settled at 12.5 US cents with 4,984 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Modest trading levels for JSE USD Market

Trading on Wednesday ended with the volume of shares changing hands declining 64 percent from Tuesday on the US dollar market of the Jamaica Stock Exchange, resulting in four securities changing hands, compared to three on Tuesday with prices of two rising, one declining and one closing unchanged.
The US Denominated Equities Index gained 1.28 points to end at 180.02. The PE Ratio, a measure that computes appropriate stock values, averages 11.3 based on ICInsider.com’s 2021-22 earnings forecast.
Overall, 70,076 shares traded for US$11,915 compared to 195,595 units at US$22,214 on Tuesday. Trading averaged 17,519 units at US$2,979, compared to 65,198 shares at US$7,405 on Tuesday, while the month to date averages 31,839 at US$6,816 versus 32,941 units at US$7,111 on Tuesday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital advanced 0.2 of a cent to close at 7 US cents after exchanging 22,581 shares, Proven Investments gained 1.39 cents in ending at 23.4 US cents as 29,528 stocks passed through the market, Sygnus Credit Investments US$ share remained at 12.5 US cents in trading 17,238 units. In the preference segment, JMMB Group 5.75% shed 1 cent in closing at US$2.02 after exchanging 729 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

No gains

The volume of shares trading on Tuesday dropped trading 41 percent at 33 percent less value than on Monday, as the US dollar market of the Jamaica Stock Exchange closed, resulting in no stocks rising for the day.
Just three securities traded on Tuesday, compared to five on Monday with no stock rising, two declining and one remaining unchanged. The JSE US Denominated Equities Index gained 0.55 points to end at 178.74.
Overall, 195,595 shares traded for US$22,214 compared to 329,386 units at US$32,977 on Monday. The PE Ratio, a measure that computes appropriate stock values, averages 11.2 based on ICInsider.com’s forecast of 2021-22 earnings.
Trading averaged 65,198 units at US$7,405, versus 65,877 shares at US$6,595 on Monday, while month to date averages 32,941 at US$7,111 versus t30,966 units at US$7,093 on Monday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Capital fell 0.2 of a cent to 6.8 US cents with an exchange of 133,432 shares, Proven Investments dropped 0.13 of a cent to end at 22.01 US cents in switching ownership of 54,564 units and Sygnus Credit Investments US$ share remained at 12.5 US cents after trading 7,599 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More slippage for JSE USD market

Trading ended on Monday, with the volume of shares changing hands falling 33 percent after the value fell 37 percent below Friday’s trades, on the Jamaica Stock Exchange US dollar market, resulting in an even number of stocks rising and falling and the market index slipping 4.4 percent for the year to date.
Trading ended with five securities changing hands, compared to seven on Friday with prices of two stocks rising, two declining and one remaining unchanged.
The US Denominated Equities Index lost 4.85 points to end at 178.19. The PE Ratio, a measure that computes appropriate stock values, averages 11.3 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 329,386 shares traded for US$32,977 compared to 490,246 units at US$52,340 on Friday. Trading averaged 65,877 units at US$6,595 compared to 70,035 shares at US$7,477 on Friday, with the month to date averaging 30,966 shares at US$7,093 versus 26,999 units at US$7,149 on Friday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Capital rallied 0.2 of a cent to 7 US cents after trading 566 shares, Proven Investments lost 1.86 cents to end at 22.14 US cents, with 113,357 stocks clearing the market, Sygnus Credit Investments US$ share remained at 12.5 US cents after 20,804 units crossed the market and Transjamaican Highway declined 0.07 of a cent to 0.81 US cents with the swapping of 190,966 stock units.
In the preference segment JMMB Group 6% climbed 1 cent to US$1.01, with 3,693 stock units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

tTech in, Jetcon out of ICTOP10

In a week when the Junior Market slipped just one percent after 32 points fall and the Main Market nearly 4,000 points for a fall of just under one percent, there was little change to the ICTOP10 listings, but change there was.
Jetcon Corporation came into the TOP10 in the prior week and enjoyed a modest pickup from 91 cents and is overtaken by tTech after the price fell from $4.70 last week to $4.20 this past week.
The highlights for this past week are Future Energy Source, Sygnus Credit Investments, after posting full year profit, Radio Jamaica, with Lumber Depot coming into focus,  Fontana, Scotia Group and Jamaica Broilers that all released quarterly results with differing outcomes.
Following the release of outstanding first quarter and full year results last week, Sygnus Credit Investments announced a dividend of 0.262 of a US cent payable on October 15, but the stock price pulled back from $16.30 last week to $15.16. Radio Jamaica made some recovery to close the week at $3.58, up from $3.17. The company also announced a 2 cents dividend to be paid in mid-October, but the stocks appear to stay below $4 for a while, with demand currently weak above $3.50.
Elsewhere, Future Energy Source, a former ICInsider.com BUY RATED stock that underwent a sharp pullback last week to $2.05 rose this past week to $2.51 as buying interest remains strong. Lumber Depot sits just below the ICTOP10 Junior Market stocks, after posting strong first quarter results that rose 140 percent over the 2020 first quarter, with ICInsider.com projecting earnings now at 35 cents per share, up from 27 cents previously, for the current year and the potential for the price to double into early 2022. Fontana reported increased earnings of $512 million, up from $277 million with earnings per share of 41 cents, just 4 cents below ICInsider.com forecast. Jamaica Broilers posted lower first quarter profit of $275 million, down from $383 million as the Jamaican and Haitian segments posted lower profits, but the USA segment enjoyed an 84 percent jump.  Scotia Group reported profit of $2.8 billion an increase of 81 percent over the depressed 2020 third quarter and slightly more than the $2.7 billion generated in the April quarter, the group seems on target to earn around $3.50 per share for the year.
The top three Main Market stocks are, Berger Paints followed by JMMB Group and Guardian Holdings, with expected gains of 202 to 290 percent, versus last weeks’ 209 to 286 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by Medical Disposables and General Accident. All three have the potential to gain between 224 percent and 291 percent, compared to 233 and 275 percent last week.
This past week, the average gains projected for the Junior Market rose from 198 percent to 209 percent and Main Market stocks moved from 173 percent to 170 percent.
The Junior Market closed the week with an average PE of 11.3 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 trades at a PE of 6.6, with a 42 percent discount to that market’s PE and the potential to rise 77 percent to March next year, based on an average PE of 20.
The JSE Main Market ended the week with an overall PE of 16, a little distance from 19 the market ended at in March, suggesting a 19 percent rise at a PE of 19 and 25 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.7, with a 52 percent discount to the PE of that market, well off the potential of 20.
ICTOP10 stocks are not intended to be a selection of the best stocks in the market but are most likely to be the best winners within a fifteen-month period. ICInsider.com ranks stocks to filter out the bigger winners from the rest, allowing investors to focus on potentially huge winners, helping to keep out emotional attachments to stocks that often result in costly mistakes being made.  IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely 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.

Stocks pull back on JSE USD Market

Trading volume surged on Friday, with 941 percent shares changing hands after a spike of 475 percent more funds entered the market compared to Thursday, but the Jamaica Stock Exchange US dollar market closed lower, with rising stocks being edged out by those that fell. 
Trading ended with seven securities changing hands, compared to eight on Thursday, with prices of two rising, three declining, and two remaining unchanged.
The JSE US Denominated Equities Index shed 4.59 points to end at 183.04. The PE Ratio, a measure that computes appropriate stock values, averages 11.4 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 490,246 shares traded for US$52,340 compared to 47,098 units at US$9,107 on Thursday. Trading averages 70,035 units at US$7,477, up from 5,887 shares at US$1,138 on Thursday and month to date averages 26,999 at US$7,149 versus 18,857 units at US$7,087 on Thursday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital remained at 6.8 US cents after exchanging 15,600 shares, MPC Caribbean Clean Energy fell 16 cents in ending at US$1.04 in an exchange of 11 stocks, Proven Investments climbed 0.3 of a cent in closing at 24 US cents after trading 195,540 units. Sterling Investments declined 0.06 of a cent to end at 1.74 US cents after crossing the market with 3,600 stock units, Sygnus Credit Investments US$ share advanced 0.3 of a cent to 12.5 US cents in exchanging 20,489 stock units and Transjamaican Highway dropped 0.02 of a cent to close at 0.88 US cents after trading 255,000 shares.
In the preference segment, Equityline Mortgage Investment preference share remained at US$1.999 after 6 units crossed the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.