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Global X MSCI Nigeria ETF (NGE)

NYSEArca - NYSEArca Delayed Price. Currency in USD
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9.55+0.08 (+0.87%)
At close: 04:00PM EDT
9.65 +0.10 (+1.05%)
After hours: 04:55PM EDT
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  • M
    M
    Has anyone been able to find a daily pricing of the "MSCI 25/50 Nigeria Index?" I can't- I've seen .pdfs of what it is, but I'd like to see it's daily movements so I could compare it against this ETF.
  • A
    ALF Tanner
    Economic growth in Nigeria is improving, and its stocks are super cheap. On the contrary, U.S. stocks are very expensive, and the economy is probably headed toward recession.

    EXPLAINER: Why IMF upgraded Nigeria’s economic growth rate despite downturns

    April 21, 2022
    The Cable

    In January, the International Monetary Fund (IMF) projected a growth rate of 2.7 per cent for Nigeria’s economy in 2022.

    Despite the impact of the Russia-Ukraine war on the global economy, IMF, in its April World Economic Outlook (WEO) report, pulled a surprise report on Nigeria’s growth forecast, projecting a 3.4 per cent growth in 2022.

    The latest forecast contradicts the current economic realities in Nigeria as unemployment high prices put pressure on purchasing power across the board.

    Specifically, the country’s inflation rate continued to accelerate since the beginning of the year, increasing from 15.63 per cent in December 2021 to 15.92 per cent in March 2022.

    The last figure was the highest rate recorded since October 2021.

    IMF SEES HOPE IN NIGERIA’S ECONOMY

    Despite these realities, IMF has constantly seen hope in Nigeria’s economic strength.
  • M
    Marc A
    Yes NGE has a low p/e ratio but has currency troubles. Valuation of NAV is based off of official currency. Black market rates for Naira are 585N to USD. Official rates are 415N to USD. That's a 40% increase. Fortunately NAV is at roughly 15 so it's sort of compensated at this point. Another issue is that the redemption of creation units must be at the official exchange rate per prospectus which seems unlikely at this point. Overall I would say NGE is fairly valued at this level. Oil is going to help prop up the currency a little while.
  • A
    ALF Tanner
    I have been researching international ETFs, and I really like NGE. It seems like an amazing value. Just look at the stats.
    Price / Earnings Ratio = 5.06
    Price / Book Ratio = 0.84
    Distribution Yield = 5.80%

    The country also has good GDP growth.
    Bullish
  • A
    ALF Tanner
    Nigeria is still one of the best value stock markets in the world. It has the added bonus of oil back above $50. Here are the current stats.
    Price / Earnings Ratio = 6.33
    Price / Book Ratio = 0.87
    Distribution Yield = 5.00%

    This fund is volatile. It has already rallied from $9 to $12.59 over the last 6 months, and I think it is going to go a lot higher.
  • Y
    Year_2020
    Why is this down almost 5% today? Ex-dividend?
  • A
    ALF Tanner
    Nigeria's currency is a disaster, and this fund is trading at a 27% discount to NAV. The fund is not selling any stocks because of the currency problems. Is this type of disaster usually a time to buy or a time to sell? In my opinion, these financial disasters always work themselves out eventually, so I think this is a time to buy if you are willing to hold for a while. I suspect that in a year from now, NGE will be much higher.
  • J
    Jay Wrentmore
    This one is speculative but has promise.
  • A
    A
    NGE went ex div yesterday for over .73 per

    check "historical data" above

    base on the 9.45 close before ex div the etf should be well under $9

    people dont realize it went ex-div?
  • G
    Gordian’s Knot
    Assuming the Naira is devalued to 1USD/500 (probably worst case), this fund will still have a earnings yield of 12%+
  • A
    ALF Tanner
    I like NGE at $9.08. Very low P/E and price/book. Oil has probably bottomed.
  • Y
    Yahoo Finance Insights
    NGE is up 6.41% to 9.84
  • J
    Jay Wrentmore
    At a loss for words. Curious, so I will stay in.
  • Y
    Yahoo Finance Insights
    NGE is up 5.82% to 10.27
  • J
    Jay Wrentmore
    In Nigeria, slow is the operative word.
  • r
    raymond
    The Economist wrote a couple of months ago that the best outcome for Nigeria is if the current President was re-elected and he was. Population of 191 M.

    (2 years ago, a one day dip of 35% could result from a large dividend payment)
  • Y
    Yahoo Finance Insights
    NGE is down 5.29% to 10.00
  • Y
    Yahoo Finance Insights
    NGE is up 5.02% to 13.40
  • Y
    Yahoo Finance Insights
    NGE is down -5.66% to 19.75
  • Y
    Yahoo Finance Insights
    NGE reached a new 52 Week Low at 16.60
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