Investors’ interest in the shares of Japaul Gold and Ventures Plc has seen the market capitalization of the Gold exploration company surge by N752 million, or 29.3% in just three trading sessions on the Nigerian Stock Exchange.
The N752 million market value gain in Japaul Gold’s capitalization can be attributed to the recent gains in the company’s shares, as bargain hunters scamper for the shares of the company.
This move triggered a 29.3% rise in the share price of the company in just three trading sessions.
READ: Nestlé’s capitalization on NSE sheds N103 billion in market value in Q1 2021
Prior to the recent move up to N0.53 per share at the close of the market today, the shares of Japaul Gold bottomed at N0.41 on the 31st of March 2021, after printing a record high of N1.67 per share on the 18th of January, 2021.
This move saw the market capitalization of the company surge by about N752 million from N2.568 billion on the 31st of March 2021 to N3.319 billion as of the close of trading activities on the exchange today.
In line with this, the price per share of Japaul Gold has increased from N0.41 to N0.53, representing a 29.3% gain in three trading sessions on the Nigerian Stock Exchange.
READ: NSE fines Mortgage bank, Conoil, others over N1 billion for account filing default
What you should know
- Recall that Nairametrics about 5 months ago reported that Japaul Gold signed a partnership contract with H&H Mines Limited to mine gold. The company also revealed that it received approval in principle from representatives of H&H Mines Ltd for Japaul Plc to invest in and/or acquire some shares of the company.
- In reaction to this development, the shares of the rebranded and restructured company with a new focus on Gold exploration as its new name suggests, rallied to a record 52-week high of N1.67 less than 2 months after the disclosure.
- At the current price, shares of Japaul Gold are trading 14.52% lower than the company shares sold for at the close of trading on the 31st of December 2021.
