Stock Name: Yamada
Company Name: YAMADA GREEN RESOURCES LIMITED
On Friday, Yamada reported a 78.6% rise in October-December net profit to 73.2 million yuan ($14.6 million) from a year ago boosted by strong demand for its fungi products.
Company Name: YAMADA GREEN RESOURCES LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 0.32 |
Shares of Singapore-listed Chinese mushroom grower Yamada Green Resources
soared by as much as 12% on Monday after reporting a jump in quarterly earnings, reported Reuters.
By 10:14 a.m., Yamada’s shares were 9.5% higher at $0.23 with more than 6.0 million shares. This was 3.6 times the average daily volume traded over the last five sessions.
By 10:14 a.m., Yamada’s shares were 9.5% higher at $0.23 with more than 6.0 million shares. This was 3.6 times the average daily volume traded over the last five sessions.
On Friday, Yamada reported a 78.6% rise in October-December net profit to 73.2 million yuan ($14.6 million) from a year ago boosted by strong demand for its fungi products.
Brokerage DMG & Partners said Yamada’s results were in line with its estimates, but it expects its net profit in this quarter to grow by 51% to 97 million yuan, which will provide more upside to its share price.
The brokerage has a buy rating on the stock and a target price of $0.32.
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