Aneka Tambang (ANTM) Shares Drop 14% Amid Freeport Indonesia Operational Uncertainty
Executive Summary
Key insights and market outlook
PT Aneka Tambang Tbk (ANTM) shares have declined 14.16% over the past three months amid concerns about potential disruptions to raw material supply from PT Freeport Indonesia (PTFI). Despite this short-term decline, ANTM's year-to-date performance remains strong at +90.82%. Analysts cite operational uncertainties at PTFI as the primary cause of the recent stock correction.
Deep Dive Analysis
Aneka Tambang Shares Experience Correction Amid Freeport Uncertainty
Recent Performance and Market Sentiment
PT Aneka Tambang Tbk (ANTM), a leading Indonesian mining company, has seen its shares decline by 14.16% over the past three months, closing at Rp 2,910 per share as of December 5. Despite this recent correction, the stock has shown strong year-to-date growth of 90.82%. The recent decline is attributed to negative sentiment surrounding operational uncertainties at PT Freeport Indonesia (PTFI), a major supplier of raw materials for ANTM's gold production.
Analyst Insights and Market Impact
Abida Massi Armand, Fundamental Analyst at BRI Danareksa Sekuritas, noted that the operational suspense at PTFI has created concerns about potential disruptions to ANTM's raw material supply, particularly gold. This uncertainty has contributed to the recent stock price correction. However, the long-term outlook remains positive due to ANTM's strong year-to-date performance and the overall bullish trend in gold commodities.
Source References
Story Info
Topics Covered
Key Events
Stock Price Correction
Operational Uncertainty at PTFI