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On February 20, 2017, PT Bumi Resources Tbk (BUMI) stock closed at Rp 394 per share, a 21.98 percent decrease from its year-to-date high of Rp 505 on January 21, 2017. This decline in the price of BUMI shares on the Indonesia Stock Exchange (IDX) is linked to the slump in coal commodity prices. The benchmark coal price (HBA) of 6,322 Kcal in February 2017 fell by 18.1 percent to US$ 83.32 per ton, compared to US$ 101.69 per ton.
The recovery of international coal prices to above US$ 100 per ton and BUMI's corporate action plans have pushed the price of this Bakrie Group company's shares above Rp 500 per share. Previously, Bumi Resources shares had languished at a low of Rp 50 per share for a considerable period. It wasn't until June 10th that BUMI shares began to rise.
Throughout 2017, BUMI shares yielded a 42.4 percent return for investors. Over the past year, Bumi Resources shareholders have seen a substantial return of approximately 688 percent. BUMI's stock is highly liquid and is included in the LQ-45 index.
"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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