JAKARTA (Yosefardi) – Shares of Timah (TINS), the world’s second largest tin producer, advanced 6.2% Monday (September 9), as investors continued to speculate on higher tin prices.
More than 18 million shares exchanged hands in the opening hour, substantially higher than daily trading volume average of 9.7 million shares in the past three months.
Timah has gained 65% from its bottom in July 2013. Early last week, Timah declared force majeure on tin exports, which could boost price of the commodity.
At the current price, Timah has market capitalization of Rp7.75 trillion or about 1.7 times equity as at June 30, 2013.
Timah booked net profit of Rp138 billion in the first half of 2013, slashed by 59% from the corresponding period of 2012.
62-21-72799272
connect@yosefardi.biz
