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UMW O&G jumps 6.6% on rating upgrade

Mimi Sabreena 5:19:00 PM Informasi

KUALA LUMPUR (Sept 7): Shares of UMW Oil & Gas Corp Bhd (UMW-OG) climbed 6.56% in active trade today after Macquarie Equities Research upgraded the counter to “outperform” from “neutral”, albeit with a lower revised target price.

At 4.20pm, the stock pared down some gains to trade 6.6% or two sen higher at 33 sen with 37.06 million shares traded, giving it a market capitalisation of RM691.84 million. The counter is currently trading at 0.32 times its net asset value.

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