What Made BRU Share Price Increase On ASX?

  • Nov 30, 2018 AEDT
  • Team Kalkine
What Made BRU Share Price Increase On ASX?

With the market open, the stock price of Buru Energy Limited (ASX: BRU) was A$0.245. It increased by 2.041% which is equivalent to 0.005 points. The share price is at A$0.250 (AEST: 1:25 pm, 30 November 2018) while the stock reported a market capitalization of A$105.86 million.

Apart from the company announcements, there are other factors which have led to an increase in the share price of the company. There is a global impact on the share prices of the energy sector. There is also an increase of 0.22% in the energy sector (AEST: 1:53 pm, 30 November 2018) based on the S&P/ASX 200 Energy (Sector). This increase is not limited to ASX, but there is an increase in the share prices on other stock exchanges as well. On Thursday 29 November 2018, Toronto stock exchange also reported an increase in the stock index which resulted due to increase in the crude oil prices

S&P/TSX composite index closed at 227.16 points on Wednesday 28 November 2018 which is the largest single-day gain since 17 February 2016. Few Russian reports suggest that there was an increase in the oil price by US$51.45 per barrel as compared to the January contract prices of the crude oil.

Apart from the possible global reasons for the increase in the share price of BRU, there was also a recent announcement made by the company on 27 November 2018. According to that announcement, the Western Australian government has lifted Fraccing Moratorium on the exploration permit of Buru Energy Limited. The reason was the confidence which the Western Australia government had on Buru Energy. The operating efficiency of the company generally meets or sometimes exceeds the proposed regulatory changes which is another reason which might have created a positive impact on the investors of BRU.

Further, the company also share its weekly drilling report of Ungani 4ST1 which is very promising. It tries to maintain its commitment towards its weekly operations.

Since the inception, the performance of the company is 28.72%.  The ten years performance of the company remains 44.62%. However, the performance of 1 year and five years were negative. In 5 years, the performance of the company was -82.14%. Since last year, the performance of the company is -15.52%. If we observe the last five days performance, the result is 6.52%.

The half-year results of Buru Energy Limited ended 30 June 2018, states that the company made a net profit after tax worth A$30.717 million. The company also maintains a healthy balance sheet. The net asset of the company is A$94.823 million which indicates that the company has the potential to meet its long-term obligations. The current assets of the company are A$74.219 million and the current liabilities was A$7.897 million which indicates that the company is a position to clear its short-term obligations as well as meet its working capital. The total shareholder's equity is worth A$94.823. There was an increase in the net cash of the company. By the end of the period, the company has a net cash of A$20.019 million.


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