Bumi Resources Minerals (BRMS IJ): Rosy gold outlook backs higher premium

Bumi Resources Minerals (BRMS IJ)
BUY / TP: IDR:580 (+18.9%)
Analyst: Alditya Galih Ramadhan

Rosy gold outlook backs higher premium
• New cash flow avenues to fill up the void
• On-track copper exploration has upside potential
• Gold bull run radiates, elevating our implied ASP …
• …. with these to reflect on prices, we rerate our TP to IDR580