Dangote Cement has begun to recover in the stock market ahead of the company’s earnings announcement. Investors are increasing their stake in the cement giant after its share price previously dropped to N394 due to selling pressure......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Investor confidence surged following an analysis by Meristem Securities Limited, which projected a 69% upside potential for the stock. As a result, analysts have raised their target price for Dangote Cement to N667.16 per share. The company’s estimated dividend yield for 2024 stands at 7.61%, which is slightly lower than its five-year average.
Data from the Nigerian Exchange shows that Dangote Cement’s stock climbed to N431 per share on Wednesday. The market witnessed a significant trading volume, with more than 1.19 million shares exchanged, amounting to a total value of N481 million.
Following this development, Dangote Cement’s total market valuation rose to N7.344 trillion, reflecting a 4% increase ahead of its upcoming earnings report. Over the past two trading sessions, the company’s stock has gained approximately 9.4%, pushing its total market capitalization higher.
Analysts predict that the stock will continue to rise once Dangote Cement releases its full financial report for the 2024 fiscal year.