AMMN Stock Price Soars, What About Other Mining Companies?

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Adi Ahdiat 12/09/2023 14:15 WIB

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Between August 11 and September 11, 2023, AMMN's share price increased by 83.3% (month-on-month), resulting in a market capitalization of Rp403 trillion and a ranking among the top five companies on t

Percentage Increase/Decrease in Mining Issuer Share Prices Over the Last Month (August 11 - September 11, 2023)

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AMMN Stock Price Soars, What About Other Mining Companies?

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Percentage Increase/Decrease in Mining Issuer Share Prices Over the Last Month (August 11 - September 11, 2023)

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PT Amman Mineral Internasional Tbk (AMMN) share price has soared in the last month.

On August 11, 2023, AMMN's share price was still Rp3,000. Then, on September 11, 2023, the price increased to Rp5,500.

Cumulatively, during the period of August 11 - September 11, 2023, AMMN's share price increased by 83.3% (month-on-month/mom).

Thanks to this surge, on September 11, 2023, AMMN's market capitalization reached Rp403 trillion, placing it among the top five companies on the Indonesia Stock Exchange (BEI).

AMMN's market capitalization, which has only been listed on the exchange for two months, surpasses that of major big-cap issuers such as PT Telekomunikasi Indonesia Tbk (TLKM), PT Astra International Tbk (ASII), PT Chandra Asri Petrochemical Tbk (TPIA), PT Bank Negara Indonesia Tbk (BBNI), and PT Unilever Indonesia Tbk.

AMMN's share price movement also significantly outperforms other mining issuers.

During the period of August 11 - September 11, 2023, the share prices of large mining issuers such as PT Adaro Energy Indonesia Tbk (ADRO) and PT Indo Tambangraya Megah Tbk (ITMG) only increased in the range of 10% to 19% (mom).

A lower increase, in the range of 2% to 6% (mom), was experienced by PT Bayan Resources Tbk (BYAN), PT Harum Energy Tbk (HRUM), PT Bukit Asam Tbk (PTBA), and PT Indika Energy Tbk (INDY).

Meanwhile, several other mining issuers experienced a share price decline in the range of -1% to -7% (mom), namely PT Aneka Tambang Tbk (ANTM), PT Timah Tbk (TINS), PT Merdeka Copper Gold Tbk (MDKA), and PT Vale Indonesia Tbk (INCO), with details as shown in the graph.

AMMN's shares are currently being monitored by the exchange management due to their unusual price movement.

"We hereby inform you of the unusual increase in the price of AMMN shares, or Unusual Market Activity," said Yulianto Aji Sadono, Head of the Indonesia Stock Exchange (BEI) Transaction Supervision Division, in his official statement on Friday (September 8, 2023).

"Regarding the Unusual Market Activity of AMMN shares, we would like to inform you that the Exchange is currently monitoring the development of this share's transaction pattern," he continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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AMMN Stock Price Soars, What About Other Mining Companies?

AMMN Stock Price Soars, What About Other Mining Companies?

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AMMN Stock Price Soars, What About Other Mining Companies?

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