South Africa

Top-performing JSE shares this year

MC Mining, Thungela Resources, HCI, and Grindrod are the top-performing shares listed on the Johannesburg Stock Exchange (JSE) in 2022.

It has been a challenging year for stock markets across the globe. The S&P 500 declined by 18%, and the FTSE 100 dropped by 2%.

South Africa was no exception, with the JSE All Share Index dropping from 73,723 to 68,274 over the last eight months.

However, a few JSE-listed companies performed exceptionally well and produced great returns for investors.

MC Mining was the top performer on the JSE with 555% price growth year-to-date.

MC Mining is an emerging developer of high-quality coking and thermal coal assets, located primarily in the Limpopo province of South Africa.

Although it only operates in South Africa, MC Mining’s primary listing remains on the Australian Securities Exchange (ASX).

The company has secondary listings on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) and the Johannesburg Stock Exchange Limited (JSE).

Rising energy prices and the strong demand for coal has helped to significantly increase MC Mining’s share price since the beginning of the year.

Thungela Resources was the second-best performer on the JSE year-to-date, with 316% price growth.

Thungela was formed when the South African thermal coal operations demerged from Anglo American and were listed on the JSE and LSE in June 2021.

Thungela produces its coal predominantly from seven mining operations in South Africa – Zibulo, Greenside, Goedehoop, Khwezela, Mafube, Isibonelo, and Rietvlei.

These are the highest quality coal mines in South Africa by calorific value, and Thungela exports its products to the Indian, Asian, Southeast Asia, Middle East, and North African markets.

Soaring global demand for coal has propelled a more than fourfold gain in Thungela Resources shares this year.

Morgan Stanley analysts said Thungela is their preferred coal exposure by far, adding that the market doesn’t fully appreciate the potential upside.

Last month, Thungela reported a big increase in earnings – from R3.13 per share to R67.23 per share.

Revenue for the first half of the year grew 161% to R26.2 billion, and the company declared a dividend of R60 per share.

Hosken Consolidated Investments (HCI) is another JSE-listed share that performed well this year.

HCI is a black empowerment investment holding company with holdings in hotel and leisure, interactive gaming, media and broadcasting, transport, mining, and properties.

HCI’s major shareholder is the South African Clothing and Textile Workers Union.

The company’s most prominent investments include Tsogo Sun Gaming, Southern Sun Hotels, eMedia Holdings, Frontier Transport, HCI Coal, and Platinum Group Metals.

It also owns 100% of the Gallagher Convention Centre and HCI Properties and 85.3% of the investment holding company Deneb.

Grindrod is the fourth stock which showed growth of over 100% this year.

The company started in 1910 when Captain John Grindrod formed a clearing and forwarding agency.

Since its humble beginnings a century ago, Grindrod grew into a South Africa-based logistics and financial services powerhouse.

Its segments include ports and terminals, logistics, banking, private equity, property, marine fuels, and agricultural logistics.

Top-performing JSE shares this year

Top-performing JSE shares in 2022
Share Year-to-date Performance
MC Mining 555%
Thungela Resources 316%
HCI 155%
Grindrod 114%
Stefanutti Stocks 90%
Premier Fishing Brands 79%
Etion 59%
Santova Logistics 58%
Exxaro Resources 52%
Rex Trueform 45%
Alviva Holdings 43%
Novus Holdings 37%
Sabvest Capital 36%
RMB 30%
Woolworths 26%
Sasol 26%
Master Drilling 25%
Clientele 24%
Afine Investments 24%
Blue Label Telecoms 24%
Astral Foods 23%
Absa Group 22%
Nedbank Group 22%
Motus Holdings 21%
CMH 20%
PBT 19%
Gemfields 18%
Trencor 17%
Pick n Pay Stores 17%
Bidvest 16%
African Rainbow Min 16%
Bell Equipment 16%
Tsogo Sun Gaming 13%
Merafe Resources 13%
Standard Bank Group 12%
Astoria Investments 12%
The Foschini Group 12%
Shoprite 11%
Southern Sun 11%
Truworths 10%
Caxton 10%