PENGARUH FAKTOR INTERNAL TERHADAP HARGA SAHAM PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI 2020-2024)

Abstract

This study aims to analyze the influence of internal corporate factors on stock prices in the mining sector listed on the Indonesia Stock Exchange (IDX) during the period 2020–2024. The internal factors examined include liquidity ratio represented by the Current Ratio (CR), profitability through Return on Equity (ROE) and Earnings Per Share (EPS), and capital structure through the Debt to Equity Ratio (DER). This research employs a quantitative approach using multiple linear regression analysis, preceded by classical assumption testing to ensure the validity of the estimation model. The population includes 62 mining companies listed on the IDX, with sample selection conducted using purposive sampling based on specific criteria. The simultaneous (F-test) results indicate that the four independent variables collectively have a significant effect on stock prices. The partial (t-test) results show that ROE and EPS have a significant individual influence, while CR and DER demonstrate varying effects depending on the financial characteristics of each entity. The coefficient of determination (R²) suggests that these internal factors provide a strong explanatory power for stock price variations, although external factors also influence stock price dynamics. These findings offer important implications for corporate management to enhance internal financial performance as a strategic tool for increasing market value, and for investors in evaluating investment feasibility based on fundamental indicators.