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Colombia Stocks: Bancolombia, Canacol, Mineros, Tablemac

The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.

The IGBC Index rose 0.6 percent to 14,384.2 while the Colcap Index gained 0.2 percent to 1,700.68, closing at their highest levels since April 11, as Colombian companies reported higher-than-expected earnings this week, said Camilo Rubiano, analyst at brokerage Afin SA.

Bancolombia SA (BCOLO) , Colombia’s largest lender, rose 1.4 percent to 28,800 pesos, the biggest jump since April 6, after the company reported a 3 percent increase in consolidated first-quarter profit compared to a year earlier. Net income rose to 350 billion pesos from 341 billion pesos in the first three months of 2010, the company said today in a statement.

Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in South America, gained for a fourth consecutive day after falling 18 percent on April 25. The stock rose 1.5 percent to 2,365 pesos, after the company raised its 2011 production goal yesterday to between 10,500 to 11,500 barrels of oil a day.

Mineros SA (MINEROS) , Colombia’s largest gold-mining company, gained for a fourth day by 1.7 percent to 6,640 pesos, its highest in more than a month, as June gold futures climbed 1 percent to a record $1,569.80 an ounce today. The company increased production by 49 percent to 28,760 ounces in the first quarter from a year ago, according to a regulatory filing made on Wednesday.

Tableros y Maderas de Caldas SA (TABLEMA) , the wood products maker known as Tablemac, gained 2.6 percent to 11.9 pesos, its highest level in nearly four years, after the company’s first-quarter sales increased 32 percent from a year ago to a record 28 billion pesos, according to a statement on its website.

To contact the reporter on this story: Blake Schmidt in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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