In a turbulent year marred by global monetary tightening, recession fears and a war in Ukraine, a mining stock in Indonesia is proving to be the world’s best performer, with a whopping 1,595 per cent rally.
Shares of Adaro Minerals Indonesia have moved sideways since sliding from a peak in April, but are still handsomely beating peers in the 2,803-member Bloomberg World Index — delivering more than double the returns of runner-up Turkish Airlines.
Adaro's share price has rocketed since its January 3 debut in Jakarta, catapulting to 2,900 rupiah ($0.18), from 100 rupiah, in slightly more than three months before a downshift took hold.
It closed at 1,695 rupiah on Wednesday, with a market capitalisation of about $4.5 billion.
While the stock’s fortune has been closely tied to global coal prices, analysts see more gains thanks to Adaro’s strategy to use its windfall profit to diversify into aluminium and battery making for electric vehicles.
The company reported a 482 per cent jump in net profit in the nine months through September as its average selling price more than doubled and coal sales volume jumped 41 per cent.
Forecasts from five analysts compiled by Bloomberg suggest another 42 per cent upside in stock prices over the next 12 months.
Adaro’s price-to-book ratio at about 9.4 is near its lowest since listing, according to Bloomberg-compiled data, although it is about six times higher than domestic peers, including Bukit Asam and Indo Tambangraya Megah.
China’s Shanxi Coking Coal Energy Group and Australia’s Whitehaven Coal — both of which produce coking coal — have ratios at about 2.
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How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
