MTN Nigeria Soars to 52-Week High, Investors Getting Inside
The story has changed; many investors are trying to get inside, buying MTN Nigeria shares they have previously dumped. In the equities market, MTN Nigeria Plc soared to a 52-week high, trading at N319.20 as telecom investors began to return in anticipation of improved earnings performance in 2025.
Amidst the earnings healing, the telecom stock is probably going to reach Cordros Securities Limited equities analysts’ 12-month target price set at N363.01 as investors continue to get inside.
Data from the Nigerian Exchange (NGX) showed MTN’s price rose to N319.20 at the last trading session when 5.616 million shares were valued at N1.794 billion. Most of the transactions conducted on MTN Nigeria were initiated by buy-side actors, and the telecom stock price rose three times out of four trading sessions.
Data from the equities market revealed that MTN Nigeria closed at N280.10 at the last trading session in May. The stock had bottomed due to past unimpressive earnings performance. The naira devaluation had a negative effect on the telecom company’s earnings till the end of 2024 reporting period.
The negative earnings caused investors to sell down stakes, and MTN Nigeria stock market plummeted. Though; its shareholders’ fund is still negative, its performance has started getting better after Nigeria’s telecom regulator, NCC, approved a tariff hike for operators.
The tariff hike’s impact reflected in the first quarter earnings results. MTN Nigeria grew earnings per share to N6.38 in Q1-2025 from a loss per share of N18.63 in Q1-2024.
Analysts said the recovery in earnings was driven by a 40.5% year-on-year increase in revenue and a substantial 99.2% year-on-year decline in net foreign exchange losses, which printed at N5.53 billion from N656.37 billion in 12 months. #MTN Nigeria Soars to 52-Week High, Investors Getting Inside University Press Plc Soars by 35% in Fresh Rally
