Stocks: Adaro Minerals Indonesia at the top, up 1,600% Economic Mail

In a “turbulent” year marked by global monetary tighteningThe inflationary Stress and fear Recession and the The war in UkraineInc., a mining company in Indonesia proves to be the best performer in the world with a staggering 1,595% rise.

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Shares in PT Adaro Minerals Indonesia have been volatile since sliding from their April peak, but they still outperform their peers in the Bloomberg World Index of 2,803 companies — generating more than double the revenue of second-place Turkish Airlines.

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Adaro’s share price has skyrocketed since it started trading on the Jakarta Stock Exchange on January 3, rising from 100 rupees to 2,990 rupees in just three months, before dropping. It closed at 1,695 rupees on Wednesday with a market capitalization of about $4.5 billion.

He also invested in other areas

While the stock’s performance was closely tied to global coal prices, it made further gains thanks to Adaro’s strategy of using cash to diversify into aluminum and making electric vehicle batteries.

The company reported a 482% jump in its net profit in the nine months through September. Five Bloomberg analysts forecast another 42% increase in share prices over the next 12 months.

Adaro’s price-to-book ratio, at about 9.4, is near its lowest level since it went public, according to Bloomberg, though it is about six times higher than that of its local rivals, including PT Bukit Asam and PT Indo Tambangraya. Megah. Two similar companies, China’s Shanxi Coking Coal Energy Group and Australia’s Whitehaven Coal Ltd – both producers of granular coal – have 2 ratios.