Nascon, Coronation Insurance and Jaiz Bank in Nigeria stock picks — Premium Times Nigeria
In Nigeria, Nascon, Coronation Insurance and Jaiz Bank were included in this week’s stock picks, which Premium Times Nigeria compiled based on fundamental analysis indicators. The publication stressed that the list is an investment guide, not a recommendation to buy, sell or hold securities.
Market performance
Last week, Nigerian stocks rose by 2.9% thanks to banking and oil-and-gas sector shares. All sectoral indices increased over the week, while the main stock index delivered a year-to-date return of 60.5%.
Meristem Securities analysts said that the recent broad decline in quotations had made shares of a number of leading and mid-cap companies more attractive for entry. In their view, this could spur purchases of such securities during the week.
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Company indicators
Nascon, a salt producer, topped the selection. Its net profit ratio is 9.3, its price-to-earnings ratio is 11.5, and its 14-day relative strength index is 6.9.
For insurer Coronation Insurance, these indicators are 22.7, 5.2 and 55.4, respectively. Jaiz Bank has a net profit ratio of 28.5, a price-to-earnings ratio of 1.5 and a 14-day relative strength index of 43.9.
The list also included pharmaceutical producer Fidson, with indicators of 7.8, 17.7 and 43, respectively, and chemical manufacturer CAP, with indicators of 14.1, 13.5 and 3.6.
