Fundamental Analysis in Stock Valuation at PT Aneka Tambang Tbk (ANTM) for Investment Decisions
Keywords:
Fundamental Analysis, Investment Decisions, Price to Earning Rasio (PER), Price to Book Value (PBV)Abstract
Purpose – In 2023, PT Aneka Tambang Tbk (ANTM) shares are predicted to be targeted by investors with their bright prospects. Therefore, in order to help investors in making decisions. Therefore, a fundamental analysis is needed in stock valuation.
Design/methodology/approach – This study uses analysis techniques using the price to earnings ratio (PER) and price to book value (PBV). This research is a quantitative study with a descriptive approach. The data used in the study came from the company's website in the form of the company's annual report for 2018-2022. The data collection technique used is documentation. In determining the sample, this study uses the total sampling technique. So that the research sample obtained is PT Aneka Tambang Tbk.
Findings – Based on the results of the study, it can be concluded that when measured using the price to earnings ratio (PER), ANTM shares are considered cheap (undervalued) because the intrinsic value of the shares is greater than the market price of the shares. So, the shares are worth buying. Meanwhile, when measured using the price to book value (PBV), ANTM shares are considered expensive (overvalued) because the PBV value is> 1. So, the shares should be sold or not bought. However, considering the fundamentals of PT Aneka Tambang Tbk, ANTM shares are still worth buying.
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