Analisis Fundamental dan Valuasi Harga Saham PT Aneka Tambang Tbk

Sufi, Zhillullah Ghulam (2022) Analisis Fundamental dan Valuasi Harga Saham PT Aneka Tambang Tbk. KTTA thesis, Politeknik Keuangan Negara STAN.

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Abstract

Penelitian ini bertujuan untuk mengetahui nilai intrinsik dari harga saham perusahaan PT Aneka Tambang Tbk periode tahun 2019-2021. Menilai harga intrinsik saham perusahaan dan membandingkannya dengan harga pasar saham berguna dalam menentukan keputusan investasi yang akan diambil oleh investor apakah dalam kondisi undervalued atau overvalued dengan menggunakan analisis fundamental yaitu pendekatan discounted abnormal earning dan price multiple. Digunakan 2 sampel perusahaan yang berkaitan dengan perusahaan tambang. Jenis penelitian ini yaitu penelitian deskriptif dengan pendekatan kuantitatif. Hasil penelitian berdasarkan kinerja perusahan dari sisi industri memiliki prospek yang baik terutama dalam meningkatkan nilai pemegang saham, dari sisi keuangan perusahaan masih dinilai cukup baik terutama dalam kemampuan menghasilkan laba setiap tahunnya. Hasil analisis yang didapatkan dengan menggunakan metode discounted abnormal earnings dan price multiple menghasilkan kondisi saham yang sama yaitu overvalued, yang berarti harga saham PT Aneka Tambang Tbk lebih besar dibandingkan dengan nilai intrinsik sahamnya. Secara keseluruhan dari hasil analisis, maka pengambilan keputusan investasi terkait penanaman saham di PT Aneka Tambang Tbk adalah menjual. / This study aims to determine the intrinsic value of the stock price of the company PT Aneka Tambang Tbk for the period 2019–2021. Assessing the intrinsic price of a company's shares and comparing them with the stock market price is useful in determining investment decisions that will be taken by investors, whether they are undervalued or overvalued by using fundamental analysis, namely the discounted abnormal earnings and price multiple approach. used 2 samples of companies related to mining companies. This type of research is descriptive research with a quantitative approach. The results of the study based on the company's performance from the industry side have good prospects, especially in increasing shareholder value. From the financial side, the company is still considered quite good, especially in the ability to generate profits every year. The analysis results obtained using the discounted abnormal earnings and price multiple methods produce the same stock condition, namely overvalued, which means the stock price of PT Aneka Tambang Tbk is greater than the intrinsic value of its shares. Overall, from the analysis results, the investment decision making related to investing in PT Aneka Tambang Tbk is to sell.

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