Japaul Gold took the market by surprise in the first active trading week in the month of April, as the shares of the rebranded company surged by a whopping 40%, to lift the company’s capitalization by about N1.38 billion.
The recent move which led to the N1.38 billion increase in Japaul Gold’s market value can be attributed to the actions of bargain hunters and value investors.
These investors, during the week, seized the company’s relatively low price to accumulate additional stakes in the company, in a bid to capitalize on the upward swing in the price of the company’s shares.
Data tracked from the close of the market on the 1st of April to the close of trading activities on the exchange yesterday revealed that the shares of Japaul Gold and Ventures Plc surged by 40% from N0.41 to N0.63.
This suggests that the share price of the gold exploration company surged by 40% in just four trading sessions on the NSE this week. In line with this, the market capitalization of Japaul Gold increased from N2.57 billion to N3.95 billion, representing a N1.38 billion gain during the week.
In case you missed it: Prior to the recent move to N0.63 per share at the close of the market yesterday, 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.
What you should know
- Nairametrics reported on Wednesday that shares in Japaul Gold and Ventures Plc surged by 29.3% in three trading sessions on the NSE, lifting the company’s capitalization by N752 million.
- 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 this year.
- At the current price, shares of Japaul Gold are trading at 1.61% higher than what the company’s shares sold for at the close of trading on the 31st of December 2021.