Leading companies are from different sectors, showing the importance of individual strategy
By Cláudio Gradilone
The year 2024 was not the most positive for stock investors. The Ibovespa fell by 10.3%. And on average, the 87 stocks that make up the index fell by 14.1% (the difference exists because the Ibovespa is a weighted average). The rise in interest rates and the dollar, uncertainty over the balance of public accounts and fears of a worsening international economic scenario with the election of Donald Trump were the main reasons for the fall.
But that doesn't mean there weren't good opportunities on the trading floor. Eight specific stocks rose by more than 100% last year. Anyone who invested in them at the start of 2024 would have at least doubled their capital in December.
Research by the Elos Ayta consultancy shows that these companies do not belong to a specific sector. Nor have they benefited from a specific event - for example, exporting companies that gain more from the appreciation of the dollar. "The sectoral diversification is striking," says Einar Rivero, from Elos Ayta. "The companies are from segments such as sanitation, real estate development, meat, among others. This shows that there are opportunities for different investor profiles even in a scenario of uncertainty."
Below are the eight companies whose shares will more than double in value by 2024:
1st place - Ampipar ON (AMBP3)
Sector: Water and sanitation
Valuation in 2024: 314,79%
The biggest rise was recorded by Ambipar (AMBP3), with an impressive 700% increase in value over the year. The company, which operates in the water and sanitation sector, stood out due to strategic initiatives and the growing demand for environmental solutions. The rise was so intense that the shares left the Small Caps index, as Ambipar's market value reached R$ 22.5 billion and it became the 36th most valuable company listed on B3. In the early days of 2025 it announced an agreement with the Prince Albert II Foundation, linked to the royal house of Monaco, to sell carbon credits.
2nd place - Fictor Alimentos ON (FICT3)
Sector: Animal protein
Valuation in 2024: 314,79%
Vice-leader in valuation, Fictor Alimentos emerged from a reverse Initial Public Offering (IPO), a movement in which a closed company buys a company listed on B3 to accelerate its insertion into the capital market. Nicknamed "surrogacy" by analysts, this process has been gaining popularity. Fictor acquired control of the holdings company Atompar in mid-2024. The buyer's strategy is to raise funds in the market to make strategic investments in the animal protein sector, being the only "growth stock" in a segment characterized by large, mature companies. "We intend to act as a consolidator", says André Vasconcellos, chief strategist and director of Investor Relations at Fictor.
3rd place - Syn Prop Tech ON (SYNE3)
Sector: Real Estate
Valuation in 2024: 182,79%
Syn Prop Tech was founded in 2007. Formerly called Cyrela Commercial Properties, the company was spun off from Cyrela (CYRE3) to manage the group's commercial assets. An investor in high-end commercial slabs and shopping centers, the company was able to reorient its assets in 2024. At the beginning of the year, taking advantage of the good momentum of real estate funds, the company sold stakes in six shopping centers to the real estate fund XP Malls (XPML11) for R$ 1.850 billion. It made a profit of R$ 22.6 million in the third quarter of 2024, up 534.2% on 2023. In the second quarter, profit was R$ 457.1 million, reversing the loss of R$ 4.1 million in 2023.
4th place - ClearSale ON (CSLA3)
Sector: Financial Services
Valuation in 2024: 162,40%
ClearSale, a fraud prevention company for financial and e-commerce transactions, was acquired by Serasa Experian in August 2024 for around R$ 2 billion. The transaction was formally approved by shareholders in early 2025.
5th place - Embraer ON (EMBR3)
Sector: Aeronautics and defense
Valuation in 2024: 150.96%
In 2024, Embraer signed important contracts with commercial companies for the sale of its medium-sized aircraft. It also closed important deals in its Defense division, dedicated to military aircraft for observation and training, taking advantage of the likely increase in defense budgets. At the end of 2024, it sold its first aircraft to the Portuguese Air Force, opening the door to North Atlantic Treaty Organization (NATO) countries.
6th place - Banco Mercantil do Brasil PN (BMEB4)
Sector: Banks
Valuation in 2024: 137,85%
Focused on a 50+ audience, Banco Mercantil do Brasil is one of the few medium-sized retail institutions still in business. The bank excels in activities such as the granting of payroll loans. It made a profit of R$ 201 million in the third quarter of 2024, up 97% on the same period in 2023. It was the bank's ninth consecutive positive result.
7th place - Aura 360 / BDR (AURA33)
Sector: Mining
Valuation in 2024: 126,95%
A mining company focused on gold extraction, Aura explores deposits in Brazil, Mexico and Honduras. Earlier this year it completed the acquisition of a Canadian company that explores gold deposits in Guatemala. In 2024 the company produced 267,000 equivalent ounces of gold, and aims to reach 750,000 by 2027.
8th place - Marfrig ON (MFRG3)
Sector: Animal protein
Valuation in 2024: 104.87%
The main news for Marfrig in 2024 was the approval by the Administrative Council for Economic Defense (Cade) of the sale of assets to competitor Minerva Foods. This allowed Marfrig to continue its financial deleveraging process, with a reduction in debt, which allowed the shares to rise in value.
Source: Article published by Forbes
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