MNC Securities starts Bumi Res stock coverage at IDR 300

Published on 10/07/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 27.90 percent to USD 866.80 million. Bumi Res stock costs EUR 0.01 on October 7, 2026 versus EUR 0.01.

Bumi Res, ID1000068703, Illustration mit AI erstellt.

Bumi Res (ISIN ID1000068703) was at EUR 0.01 at Lang & Schwarz on October 7, 2026 at 10:37 a.m. CEST, unchanged from the EUR 0.01 prior close. The latest investment case centers on mineral expansion: MNC Securities started coverage on September 14, 2026, with a Buy recommendation and an IDR 300.00 price target, as Investor.id reported.

Minerals reshape the growth case

Bumi Resources is trying to reduce its dependence on coal by building a second growth engine in minerals. The company completed its acquisition of 175.71 million Loyal Metals shares on September 4, 2026, for AUD 79.07 million, according to Bisnis.com.

The transaction added exposure to lithium, gold and copper exploration. Bumi Resources also owns 100 percent of Wolfram and 64.98 percent of Jubilee Metals, while it is processing a planned 45 percent stake in Laman Mining, the same report said.

Revenue and margins support the thesis

For the six months ended June 30, 2026, revenue reached USD 866.80 million, up 27.90 percent from USD 677.90 million a year earlier. Net income attributable to owners rose to USD 58.90 million from USD 20.40 million, according to Quartr.

The margin mix is the more important comparison. In the first half of 2026, minerals contributed 12.00 percent of revenue but 31.50 percent of combined segment operating profit, with a 29.50 percent operating margin versus 8.80 percent for coal, according to Investor.id.

Execution remains the key test

MNC Securities projects group revenue to grow at a 10.00 percent compound annual rate to USD 2.60 billion by fiscal year 2030, while EBITDA is projected to reach USD 562.10 million at a 28.20 percent compound annual rate. The research also says its estimates exclude contributions from Wolfram and Jubilee, leaving execution and production timing as central variables.

The counter-factor is operational risk. The cited analyst work highlights possible project delays, weaker-than-expected performance from newly acquired mineral assets, regulatory changes and lower commodity prices.

Stock stays near the euro floor

Bumi Res stood at EUR 0.01 at Lang & Schwarz on October 7, 2026 at 10:37 a.m. CEST, with a 0.00 percent change versus the EUR 0.01 prior close. The next reported event is listed as the third-quarter 2026 results on October 30, 2026, according to Quartr. The further course of trading is shown by the continuously updated real-time quote of Bumi Res stock.