As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,216.91 points, down 0.04% points last week.
During the last 5 trading days, $Jardine C&C(C07.SI)$, $Bumitama Agri(P8Z.SI)$, $Shangri-La HKD(S07.SI)$, $t PTTEP TH SDR(TPED.SI)$ and $GLD SG$(GSD.SI)$ are the top 5 weekly gainers, up 10.43%, 8.22%, 6.98%, 6.30% and 5.37% respectively.
$YZJ Shipbldg SGD(BS6.SI)$, $Riverstone(AP4.SI)$, $Seatrium(S51.SI)$, $Raffles Medical(BSL.SI)$ and $Thomson Medical(A50.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.
Below are key analyses of the TOP 5 gainers:
1. $Jardine C&C(C07.SI)$
One key piece of news that might have influenced this is that Citi initiated a ‘buy’ on Jardine C&C with a S$29 price target. This kind of positive analyst coverage often leads to an increase in investor confidence, which can result in a rise in the stock price.
Moreover, the company’s financial performance could also be a contributing factor. For instance, the company’s net income for the fiscal Q4 2023 ended 12/31/23 increased by 124.77%. The company’s EBITDA, a measure of a company’s overall financial performance, also increased by 20.79%.
2. $Bumitama Agri(P8Z.SI)$
The company’s stock reached a new 52-week high, which often leads to increased investor interest.
Moreover, the company’s financial performance could also be a contributing factor. For instance, the company’s EPS (Earnings Per Share) for the trailing twelve months (TTM) is 0.0900. The company’s PE Ratio (Price to Earnings Ratio) for the TTM is 8.39, which might indicate that the stock is undervalued, leading to increased buying pressure.
In addition, Bumitama Agri Ltd. announced a cash dividend of 0.019 with an ex-date of Apr. 30, 2024. Dividend announcements often lead to an increase in the stock price as investors buy the stock to qualify for the dividend payout.
3. $Shangri-La HKD(S07.SI)$
The company’s stock reached a new 52-week high, which often leads to increased investor interest.
Moreover, the company’s financial performance could also be a contributing factor. For instance, the company’s net income for the fiscal Q4 2023 ended 12/31/23 increased by 17,691.67%. The company’s EBITDA, a measure of a company’s overall financial performance, also increased by 129.42%.
In addition, the company is trading at 31.9% below the estimate of its fair value1. Earnings are forecasted to grow 21.47% per year1, and the company became profitable this year1. Analysts are in good agreement that the stock price will rise by 56.3%1.
4. $t PTTEP TH SDR(TPED.SI)$
The company’s net income for the fiscal Q4 2023 ended 12/31/23 increased by 23.20%. The company’s EBITDA, a measure of a company’s overall financial performance, also increased by 8.79%.
Moreover, PTT Exploration & Production PCL has achieved a positive outcome with Sirung-2 appraisal well in the block SK405B to affirm petroleum resources. This success follows the prior discovery of oil and gas in the Sirung-1 exploration well in 2021. The project is now moving towards the Engineering study.
5. $GLD SG$(GSD.SI)$
The price of gold has hit a new record, which often leads to increased investor interest in gold-related stocks and ETFs like SPDR Gold Shares.
Moreover, SPDR Gold Shares offer investors an innovative, relatively cost-efficient, and secure way to access the gold market. They are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold.
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