Stock With Momentum: Carimin Petroleum

TheEdge Thu, Feb 07, 2019 10:36am - 5 years View Original


Carimin Petroleum Bhd (-ve)
TRADING of the shares in Carimin Petroleum Bhd (fundamental: 1.35/3, valuation: 0.3/3) triggered our stocks with momentum algorithm on Monday for the seventh time this year.

At the closing bell on Monday, Carimin closed up 10 sen or 13.42% at 84.5 sen, with a market capitalisation of RM189.44 million. The counter saw 13.57 million shares traded, near eight times its 200-day average volume of 1.79 million shares.

For the first financial quarter ended Sept 30, 2018, the group returned to the black with a net profit of RM11.72 million, compared to a net loss of RM277,000 a year ago, on a higher contribution from its oil and gas division. Revenue jumped over three times to RM84.09 million from RM24.73 million.

Based on its latest share price, the stock was trading at 1.36 times its net book value.

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