Tuesday, March 2, 2021

Colombian Stock Movers: Petrominerales, Pacific Rubiales, Sura

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of the close.

The IGBC Index (IGBC) rose 0.3 percent to 15,131.01, while the Colcap Index increased 0.6 percent to 1,769.49.

Petrominerales Ltd. (PMGC) , a Calgary-based oil company that operates in the Andean region, slumped 18 percent to 25,000 pesos, the lowest since shares began trading in August. The company found no hydrocarbons at the La Colpa 2X well in Peru after finishing tests, according to a press statement yesterday.

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Grupo de Inversiones Suramericana SA (PFGRSURA CB), the parent company of Colombia’s largest bank, gained 2.4 percent to 33,420 pesos, the highest since March 30. The company posted in a filing to Colombia’s financial regulator first-quarter profit of 178.2 billion pesos ($101 million). Net income more than doubled from 75.8 billion pesos in the same period a year earlier, the company said.

Sura may be added to MSCI Inc.’s Emerging Markets Latin America Index in a rebalancing set to be announced May 15, Banco Santander SA said today in an e-mailed research note.

Pacific Rubiales Energy Corp. (PREC) , a Toronto-based oil producer that operates fields in Colombia, advanced 0.7 percent to 51,320 pesos. Pacific Rubiales agreed to buy a stake in an exploratory offshore block in Peru for $150 million from BPZ Resources Inc. Rubiales also agreed to pay another $185 million for capital and exploration costs for the Z-1 block, the company said in a regulatory filing.

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Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

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