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Company Reports

12 August 2026

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BUMI: Coal Glows, Gold Shines | BUY with IDR 300 TP

SSI SUMMARY BUMI benefits from 2 operational transformation: 1) Gold acquisitions of Wolfram (production in late-May) and Loyal Metal Mining (targeted for Aug-26 completion); 2) Stronger coal performance ahead on higher prices due to El Niño while volumes are protected by the use of conveyor belts. On the gold front, we expect higher Wolfram output on improving feed grades, earnings recovery at BRMS and lower cash costs as fuel prices ease.

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Harga Nikel Stabil di Tengah Tekanan Global

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BUMI Company Corners 2Q26

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BUMI Company Corners 2Q26

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