ANALISIS FUNDAMENTAL UNTUK MENAKSIR NILAI INTRINSIK SAHAM PT. ANEKA TAMBANG TBK
| Main Authors: | , DIAN MANDASARI PUTRI, , Dr. Suad Husnan , M.B.A |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2013
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/122376/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=62478 |
Daftar Isi:
- Indonesia is an archipelago with abundant natural resources. One of Indonesia's natural wealth is the wealth of mineral potential, mineral mining, due to the location of Indonesia, which is within the geological phenomenon \"ring of fire\", which is an indicator of the presence of mineral deposits. The mining industry has given a significant contribution to the Indonesian economy. The mining sector has proven to play a considerable role in the development of national economy, such as the source of state revenue and foreign exchange earner, producing raw materials for domestic and industrial use and to build socioeconomic infrastructure, develop rural areas, stretching evoke the economy, and brought significant progress in the areas that have not been touched, such as territorial development and the development of means of transportation. Realizing the importance of the mining sector to the economy of Indonesia and the Indonesian capital market prompted the authors to conduct stock research on one of the mining companies in Indonesia, namely PT. Aneka Tambang Tbk (ANTM). The stock selection is based on criteria that ANTM is including as one of liquid stocks (easily traded) as evidenced by ANTM stock that always included in the LQ 45 during the period 2008-2013. This research aims to assess the intrinsic value of stock ANTM using fundamental analysis approach, the method of the Dividend Discount Model (DDM) and method of Relative Valuation (Price to Earning Ratio and Price to Book Value).The acquired results from this analysis then will compared to the prevailing market price of the share, and it will be determined whether the value is undervalued, overvalued, or is proportional to its market value. The result obtained with the DDM method estimates the intrinsic value of ANTM is Rp. 2402.55, while the market price of the stock on May 1, 2013 is Rp. 1330.00. Based on the calculation of the intrinsic value of the stock using the DDM, ANTM�s share price as of May 1, 2013 is undervalued. Assessment results using relative valuation obtained the following results: ANTM�s theoretical PER value is 7.6565 times, while the actual is 4.2389 times, and PBV theoretical for ANTM is 1.7859 times, whereas the actual is 0.988 times. Based on these results, the intrinsic value of ANTM by using relative valuation methods is also experiencing undervalued.