Bumi Resources Minerals (BRMS IJ): One-off items slow down growth

Bumi Resources Minerals (BRMS IJ)
BUY / TP: IDR:500 (+15.2%)
Analyst: Alditya Galih Ramadhan

One-off items slow down growth
• Irregular losses distort projections
• Outlook for 2H25: Gold production lags and we trim guidance
• Fine-tune our margin for this year
• Uplifted margin, more upsides warrant rating upgrade