Markets are taking a chance to settle down after a rocky week last week. Sentiment continues to be cautious. These are some of the small and mid-cap stories from Wednesday on the JSE:
Forced selling knocks Invicta
Shares in industrial group Invicta were off 3.1% yesterday. According to a SENS announcement, CEO Arthur Goldstone was forced to sell nearly R4.9m of shares as an “involuntary sale”. Invicta trades at a price to earnings multiple of 8 and offers a 4.15% dividend yield.
Peregrine goes under cautionary
Financial services group Peregrine has announced that it is now trading under cautionary. The share currently trades on a forward price to earnings multiple of 7 and offers a 7% dividend yield. Analyst consensus for the share is a “buy”.
Mining group Kibo Mining PLC was up 19.2% in thin trade on Wednesday with 59 000 shares changing hands between 78c and R1/share The company also provided an update to the market around a joint venture relating to an energy project in Mozambique.
Implats gets some security
Shares in platinum group Implats were up 5% after announcing to the market that it had settled a land dispute with the Zimbabwean government. Implats will return 23903 hectares to allow for new mining operations in Zimbabwe The miner has secured tenure over other mining operations in Zimbabwe.
Coronation hits new low
Shares in asset management group Coronation have hit a new 52-week low with the share trading at an intra-day low of R60/share. Coronation trades on a forward price to earnings multiple of 13.5 with a dividend yield of 7%.
Tawana ups lithium reserves
Resource group Tawana Resources has announced that it has identified 105% more lithium resources at its Bald-Hill operations in Australia.