The Covid-19 pandemic has not prevented PT Aneka Tambang Tbk (Antam) from recording a positive performance. Antam is still able to record shiny performance in the first nine months of 2020 (9M20) Antam’s SVP Corporate Secretary Kunto Hendrapawoko also assessed that the positive response from the public to Antam’s shares was inseparable from the positive sentiment on the company’s performance where Antam recorded the achievement of Earnings Before Interest, Taxes, Depreciation, and Amortization ( EBITDA) in the first nine months of 2020 (9M20) of Rp 2.14 trillion.
EBITDA growth in the third quarter of 2020 (3Q20) reached IDR 1.32 trillion, a significant growth compared to the EBITDA achievement in the second quarter of 2020 (2Q20) of IDR 794 billion. “The positive response to Antam’s shares is a form of investor confidence in the company’s performance,” said Kunto in his statement, Wednesday (16/12). It is known, PT Aneka Tambang Tbk (Antam) was still able to record a shiny performance in the first nine months of 2020 (9M20) which resulted in the strengthening of Antam’s shares to penetrate the level of Rp1,800. BRI Danareksa Sekuritas analyst Stefanus Darmagiri said that the current boom in Antam’s shares is more towards public sentiment towards the battery holding industry.
Moreover, the electric vehicle manufacturer from the United States, Tesla, plans to build a battery factory in Indonesia and the increasing nickel price and nickel ore sales volume in the domestic market are factors that influence ANTAM’s stock trend. “Antam’s stock is currently breaking the Rp1,800 level. If you look at the sentiment towards the future of nickel as a holding battery, I suggest buying and if you see that sentiment I think it will continue to move up,” said Stefanus.
Furthermore, Stephen said, the performance of Antam able to stimulate the market because the company can reduce the cash cost of production ( cash cost ) this year. Then for next year it will be more towards company mining, where in 2021 it will look positive because it is driven by nickel prices. If you look at the nickel price in 2020 of around US $ 14,000 per ton, the expectation of nickel price could reach around US $ 16,000 – 17,000 per ton in 2021. “Meanwhile, for the gold trend itself, usually if the economy improves, the price of gold will be corrected,” said Stefanus.