Wow! Earth Stock Duo Sitting on Top Gainers, What’s Up?

Jakarta, CNBC Indonesia – The stock duo of the Bakrie Group, listed coal mining company PT Bumi Resources Tbk (BUMI) and its subsidiary PT Bumi Resources Minerals Tbk (BRMS), are in the top 5 gainers in the first session of trading today, Wednesday (6/5/2022) .

Both stocks have continued their gains since at least last Tuesday (5/4).

The following are the top gainers stocks this afternoon, referring to data from the Indonesia Stock Exchange (IDX).

1. Delta Dunia Makmur (DOID), up +17.84%, to Rp 535/unit. Transaction value IDR 211.9 M

2. Arkadia Digital Media (DIGI), +15.15%, to Rp. 76/unit. Transaction value IDR 8.9 M

3. Bumi Resources Minerals (BRMS), +9.26%, to Rp 236/unit. Transaction value IDR 279.2 M

4. Era Mandiri Cemerlang (FISH), +8.54%, to Rp 89/unit. Transaction value IDR 8.6 M

5. Bumi Resources (BUMI), +6.67%, to Rp 64/unit. Transaction value IDR 132.2 M

According to the data above, the shares of coal issuer DOID jumped 17.84 percent to Rp 535/unit.

With this, DOID shares have recorded an upward rally for 4 consecutive days. Practically, in a week DOID shares have jumped 33.08%.

Besides DOID, DIGI’s shares also soared 15.15%, after closing up 3.13% yesterday. So far, DIGI has not announced the latest material information on the IDX website.

In the same vein, as mentioned above, BRMS and BUMI shares appreciated 9.26% and 6.67% respectively this afternoon.

In a week, BRMS shares rose 16.83% and BUMI shares rose 12.28%.

For BUMI and DOID stocks, the sentiment of rising coal prices seems to encourage investors to collect these stocks.

Coal prices soared after the European Union considered new sanctions against Russia. In trading Tuesday (5/4), the price of coal contract in May closed at US$ 280/ton, up 8.25% compared to the previous day.

The price level of US$ 280/ton is the highest since March 15, 2022 or in the last 20 days. The sharp increase also brought coal prices closer to the level of US$ 300/ton after weakening since mid-March.

In a week, the price of coal has strengthened 11.08% but in a month it is still down 31.21%. Within a year, the price of the black stone skyrocketed 210.77%.

The sharp jump in coal prices was triggered by the European Union’s plan to impose new sanctions on Russia. The new sanctions include a ban on imports of Russian coal that the European Union will implement.

CNBC INDONESIA RESEARCH TEAM

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