BANPU Gains Nearly 5% on Rebounding Coal Price, Analyst Expects 3Q21 Earnings Grow 135%
BANPU edged 5% higher on the recovery of coal price, while the analyst expected 3Q21 earnings to come in at 3.1 billion baht.
The share price of Banpu Public Company Limited (BANPU) rose ฿0.50/share or 4.72% to close the session on November 9, 2021, at ฿11.10/share with a trading value of 1,826 million baht.
Asia Wealth Securities (AWS) stated that the NewCastle Coal futures contract for December closed at $164/MT, increased $10.4 or 6.77%. Stocks related to coal price began to find their ground after a heavy correction in the past two weeks. AWS expected there will be speculation for profit on coal stocks such as BANPU and LANNA this week.
In addition, the securities company expected BANPU to announce 3Q21 earnings on November 9, 2021, at 3.1 billion baht, increased 135.6% QoQ, mainly due to core profit that is expected to grow 65.4% QoQ to 4 billion baht, following the strong performance in 3Q21 over high coal price.
