Coal stocks, led by BANPU, AGE, and LANNA, rallied in early Thursday trading following a 10% gain in coal prices last night to USD360 per ton.
The share price of Banpu Public Company Limited (SET: BANPU) rose THB0.50/share, or 4.10% to THB12.70/share, with a trading value of THB1,579 million.
The share price of The Lanna Resources Public Company Limited (SET: LANNA) rose THB1.00/share, or 5.10% to THB20.60/share, with a trading value of THB187 million.
The share price of Asia Green Energy Public Company Limited (SET: AGE) rose THB0.20/share, or 4.83% to THB4.34/share, with a trading value of THB64 million.
The increase in coal share prices in Thursday’s morning session was mostly due to a 10.2% increase in coal prices to USD360 a ton, combined with a 5% jump in crude oil prices last night, following Europe’s escalation of sanctions against Russia.
The European Commission, the EU’s executive arm, proposed fresh sanctions against Russia on Wednesday, including a six-month phase-out of Russian oil imports.
Krungsri Securities expects BANPU to report 1Q22 net profit at THB11.2 billion (THB1.66 EPS), +222% QoQ and +631% YoY. Key highlights would be weaker coal sales volume, but stronger ASP QoQ at ITM and flat for CEY. 2Q performance should remain strong led by higher coal sales volume and ASP and repricing for domestic coal sales at CEY. Maintain BUY, with a target price at THB14.0/ share.
