JAKARTA (Indonesia Today) – Investors focused buying in shares of PT Harum Energy Tbk (HRUM), pushing the stock up by 5.3% to Rp3,975 per share this morning.
At this price, the company has market capitalization of 10.74 trillion. The stock, however, has fallen 39% year to date. Investors collected the HRUM shares this morning as they consider the stock has been undervalued.
In first quarter of this year, the company booked net profit of US$8.26 million, dropped 85% from US$55.25 million in the same period of 2012. Revenues declined 24.38% to US$223.67 million, mainly due to decline in the company’s average coal selling price. (hans@theindonesiatoday.com)