Top Stories
Company Results | Bumi Resources Minerals (BRMS IJ/BUY/Rp560/Target: Rp1,040)
BRMS reported a 2Q26 net loss of US$4.8m (-152.8% yoy; -124.5% qoq) amid the Poboya pushback, domestic gold oversupply, and softening gold prices. The pushback was resolved with open pit mining resuming in 2H26, and the ANTM contract secured through Jun 28. Long-term volume growth remains intact, supported by CIL plant expansion to 2,000 tpd by 4Q26 and commencement of the Poboya underground mine from 1H27 to achieve its 200,000 oz target by 2029. Maintain BUY. Target price: Rp1,040.
Technical Analysis
Harum Energy | HRUM IJ
Trading Buy Range: We have a technical Buy at Rp880, and take profit at Rp940.
Telkom Indonesia | TLKM IJ
Trading Buy Range: We have a technical Buy at Rp2,720, and take profit at Rp2,860.
Top Stories
Company Results | Bumi Resources Minerals (BRMS IJ/BUY/Rp560/Target: Rp1,040)
BRMS reported a 2Q26 net loss of US$4.8m (-152.8% yoy; -124.5% qoq) amid the Poboya pushback, domestic gold oversupply, and softening gold prices. The pushback was resolved with open pit mining resuming in 2H26, and the ANTM contract secured through Jun 28. Long-term volume growth remains intact, supported by CIL plant expansion to 2,000 tpd by 4Q26 and commencement of the Poboya underground mine from 1H27 to achieve its 200,000 oz target by 2029. Maintain BUY. Target price: Rp1,040.
Technical Analysis
Harum Energy | HRUM IJ
Trading Buy Range: We have a technical Buy at Rp880, and take profit at Rp940.
Telkom Indonesia | TLKM IJ
Trading Buy Range: We have a technical Buy at Rp2,720, and take profit at Rp2,860.
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