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BUA Cement Plc, one of the major cement manufacturing companies listed on the Nigerian Exchange (NGX) recorded a gain of about N271 billion in two days despite sustained sell pressure witnessed on the stock.

Market watchers believe investors are optimistic that the company’s eagerly anticipated third-quarter results would show good numbers.

Checks by Nairametrics showed that the cement stock grew by 12.90% to N70.00 per share from the N62.00 with which it began the trading session on October 25.

Further checks showed that BUA Cement closed trading on Wednesday with a share price of N70.00 per share and a market capitalisation of N2.3 trillion, as against N62.00 per share and a market capitalization of N2.099 trillion on October 25, 2022. This shows that the stock gained N271 billion or 12.90% during yesterday’s trading session.

BUA Cement began the year with a share price of N67.05 and has since gained 4.4% on price valuation.

What market analysts are saying

Kasimu Garba Kurfi, the Chief Executive Officer of APT Securities and Funds Limited said:

  • “The NGX is one of the lowest pricing of most of the stock markets in the world, very attractive to both short- and long-term investments. Some of the stocks are trading between 12 and 24 months low. In terms of dividend yield, most of them are trading at double-digit yield and in terms of PE ratio, most of the stocks are trading at less than 5.
  • “The most attractive stocks are banking shares GTCO Plc, Zenith Bank Plc, Fidelity Bank Plc, Access Holdings Plc, UBA Plc, and Stanbic IBTC Plc. Another sector is telecommunications such as MTNN Plc, and building materials, such as BUA Cement Plc, Lafarge Africa Plc, and Dangote Cement Plc among others.”

Mr David Adonri, the Executive Vice Chairman of Hicap Securities Limited said:

  • “Every sector has stocks or companies that have potential, but the banking industry is one to pick. Zenith Bank, GTCO, Access, UBA, Fidelity and Stanbic IBTC is preferred stocks to invest in during this last quarter of the year because they are income-generating stocks in terms of dividends.
  • “Dividend yield in telecom may not be as high as in the banking industry, but stocks like MTNN and Airtel offer growth potential. The industrial goods sector is also good to pick for the last quarter earnings; cement companies like Dangote Cement, Lafarge Cement, and BUA Cement have good potential”.

What you should know

  • During BUA Cement’s board meeting on Monday, 24th October 2022, the company’s Q3 financial report was considered and approved.
  • The financial report will be disclosed on or before October 30th, 2022.
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