United Tractors' 2H Earnings Should be Supported by Restart of Martabe Gold Mine

Dow Jones08-27 13:18

0518 GMT - United Tractors' 2H earnings should be supported by the restart of its Martabe gold mine in Indonesia, Bahana Sekuritas' Jeremy Mikael says in a research report. The Indonesian company keeps its 80,000-ounce gold sales volume guidance for 2026, which the brokerage expects to increase to 150,000 ounces in 2027 and 230,000 ounces in 2028. With gold prices above $4,000 per ounce, the combination of higher volume and elevated average selling prices should offer meaningful earnings support to United Tractors. The brokerage raises the stock's target price to 28,200.00 rupiah from 28,000.00 rupiah to reflect valuation rollover, with an unchanged buy rating. Shares are 0.6% higher at 24,000.00 rupiah.

 

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