In a month where the price of Dolar blue had a notable rise and outperformed almost all investments, A leading company’s stock could have won you over in performance and became the “star” of the period. Is about Comercial del Plata (COME) which advanced 18% in pesos throughout June.
In fact, it is the second consecutive month where this role stands out on the stock market, as it also showed growth throughout May that reached an accumulated 35%.
Specific, Comercial del Plata not only far surpassed, throughout the month, the advance of the rest of the shares of leading companies that make up the Merval index, which was in negative territory, but it also beat the dollar.
It is that both the MEP and blue rose 11% in Junewhile the official exchange rate was barely 2%.
Besides beat inflation, which is estimated that in the entire month that ended was around 4% to 5%. It even far exceeded the monthly nominal rate of the fixed term in pesos, which is an average of 2.5%.
In short, the Comercial del Plata’s action was the “star” investment of the monthand Throughout 2024 its price increases around 160%so in this period it also greatly exceeds the dollar and inflation.
Comercial del Plata’s stock rose 18% throughout the month, and is the stock that advanced the most in June, even surpassing the dollar.
“Star” action: Comercial del Plata
The so-called Sociedad Comercial del Plata is an Argentine holding company with more than 20,000 shareholders in 17 countries and 1,000 employees, present in strategic sectors such as construction, energy, agribusiness, transportation and infrastructure, and real estate..
The company was Founded in 1927, and its shares are listed on the Buenos Aires Stock Exchange and also in Switzerland, on the Six Swiss Exchange in Zurich.
This business group owns firms such as Argentine Petroleum DistilleryCerro Negro Quarries, General Fuel Company (CGC), Morixe BrothersLamb Weston Modern Foods, Pampean Railway Express and Delta del Plata, among others.
The The significant rise in the company’s share price from May to the present is due to the very good balance it presented in the first quarter of 2024 and also due to the potential it has in the oil segment.
“Comercial del Plata brought good numbers in the first quarter of this year because it benefited from the debt it had in dollars, since in that period the price of the US dollar did not change, so the adjustment for inflation played quite in its favor to reduce it,” he summarizes. Ruben Pasquali, Fernández Laya market analyst, to iProfesional.
Another of the factors that weigh on the rise in the price of this national firm is the potential it presents in a key sector, which is the energeticdue to the assets it has in a oil area that promises to grow in an extraordinary way.
“Ahead of the company, the investment in the Gulf of St. George, which is a very attractive asset that Comercial del Plata has, due to the expectation that it can grow a lot in the future and be another Dead Cow”completes Pasquali.
And ends: “There was also much talk of listing a company from the group on the market, I am referring to Compañía General de Combustibles (CGC), which belongs to COME. There were even rumours that it could be sold to CGC, which I don’t believe.”
For analyst Rubén Pasquali, Comercial del Plata shares can continue to rise in value.
Is it time to buy Comercial del Plata?
Regarding whether It is time to buy, or not, the stock of Comercial del Plataafter this huge advance that its price has had in recent months, Pasquali clarifies that “yes, I would buy.”
The truth, for this expert, is that the Company is worth more due to the economic opening promoted by the Government and the attempt to attract foreign investments with the impetus of the Law Bases, something that generates a lot of interest from various foreign capitals.
“It is a company that I like, it has a very attractive range of options, something that represents that we are seeing that the shares have an upward potential and can continue to rise. That is to say, Prices are increasingly higher. “I would buy, at most, if I’m wrong, I would sell options on the stock,” says Pasquali.
In fact, he considers that there may be “very good news” with Compañía General de Combustibles (CGC), in the coming weeks.
In summary, Comercial del Plata is focused on the oil segment and other businesses that are experiencing rapid growth, which gives it the potential to continue increasing its stock market value.
