Archi Indonesia's 3Q Earnings Performance Likely to be Stronger
Dow Jones
1 hour ago
0539 GMT - Archi Indonesia's 3Q earnings performance is likely to be stronger, UOB Kay Hian's Benyamin Mikael says in a research report. The main driver is higher gold sales volumes of 33,000-36,000 ounces as production ramps up at Araren and Marawuwung mining operations in Indonesia, the analyst says. The mining company expects gold production to increase 15% in 2026, supported by improved gold grades and contributions from underground mining. However, the brokerage cuts its 2026 and 2027 net-profit forecasts for the company by 13.4% and 24.9%, respectively, to mostly reflect higher cost pressures. It lowers the stock's target price to 2,200.00 rupiah from IDR2,750.00 with an unchanged buy rating. Shares are 3.5% lower at IDR1,255.00.
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