0520 GMT - Indonesian miner Bumi Resources Minerals is likely to enjoy robust production and earnings growth over 2025-2028, Nomura analysts say in a note. They expect BRMS to book a 57% earnings compound annual growth rate and around 32% CAGR in gold production over the three years, citing the increased number of gold processing plants and the development of an underground mine. The mine, which should come online by end-2027, is expected to yield a higher-grade ore which will improve margins. BRMS could also get a valuation re-rating if gold prices stabilize at current high levels. Nomura starts BRMS with a buy rating and target of IDR600.00. Shares were last at IDR422.00. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
July 14, 2025 01:20 ET (05:20 GMT)
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