Timah - Upgrading FY24-25F Est. Post 3Q24 Earnings Beat
We reiterate our BUY rating on stronger earnings prospects with higher TP of Rp2,300. Key risks are lower tin prices, sales, and higher cash costs.
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Timah - Expect a Positive 2Q24 Outlook Fueled by Strong LME Tin Prices
We resume our coverage with a Buy rating and an unchanged TP of Rp1,400. Key risks are lower tin prices, sales, and higher cash costs.
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Timah - Expect a Major Turnaround in FY24F from Improving Tin Mining Practices
TINS sets an optimistic FY24 production target of 30k tons (+100% yoy) of tin metal; we forecast a more conservative 26k tons (+69.5% yoy).
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Metal Mining: Proposed Royalty Hike Will Pressure FY25 Earnings (NEUTRAL)
The MEMR on Saturday 8th Mar25 officially proposed an increase in royalty rate for Coal, Nickel, Copper, Gold, Silver, and Tin.
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Metal Mining: 4Q24 preview: A Softer Quarter on Easing Commodity Prices (NEUTRAL)
We estimate a slightly weaker 4Q24 earnings trend from declining ASPs, though some companies excel through soaring sales volume.
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