Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange

Tanaesya Suhendro ; Herry Subagyo
Proceeding of the International Conference on Mana... 📅 2025 Vol 2, No 2 🔗 DOI: 10.61132/icmeb.v2i2.308
Abstract
This research investigates the effect of fundamental factors, namely the current ratio, debt to equity ratio, and return on equity on stock returns of mining firms listed on the Indonesia Stock Exchange (IDX) during 2021–2023. The research highlights the utility of understanding a firm’s financial performance in guiding investment selection within the capital market. Although the mining industry contributes significantly to Indonesia’s economy, stock movements in this sector are often subject to uncertainty due to market fluctuations and commodity price volatility. This research utilizes secondary data from annual financial statements and stock price records of 51 IDX-listed mining companies over the study period. Panel data regression, combined with descriptive and quantitative statistical techniques, was employed using E-Views 12 software. The findings reveal that stock returns are significantly influenced by the current ratio, debt to equity ratio, and return on equity. These results provide useful insights for investors, financial analysts, and corporate management by emphasizing the function of fundamental indicators in assessing stock performance, particularly within the mining sector.
Keywords
Current Ratio; Debt to Equity Ratio; Mining Industry; Return on Equity; Stock Return
How to Cite

Tanaesya Suhendro & Herry Subagyo (2025). Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange. Proceeding of the International Conference on Management, Entrepreneurship, and Business, 2(2). https://doi.org/10.61132/icmeb.v2i2.308

Tanaesya Suhendro; Herry Subagyo, "Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange," Proceeding of the International Conference on Management, Entrepreneurship, and Business, vol. 2, no. 2, 2025.

Tanaesya Suhendro; Herry Subagyo. "Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange." Proceeding of the International Conference on Management, Entrepreneurship, and Business, vol. 2, no. 2, 2025.

Tanaesya Suhendro; Herry Subagyo. "Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange." Proceeding of the International Conference on Management, Entrepreneurship, and Business 2, no. 2 (2025).

Tanaesya Suhendro & Herry Subagyo (2025) 'Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange', Proceeding of the International Conference on Management, Entrepreneurship, and Business, 2(2). doi: 10.61132/icmeb.v2i2.308.

Tanaesya Suhendro; Herry Subagyo. Analysis of Fundamental Factors that Affect the Stock Performance of Mining Companies Listed on the Indonesia Stock Exchange. Proceeding of the International Conference on Management, Entrepreneurship, and Business. 2025;2(2).

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