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.
199 Views
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: NPI Price Could Weaken on RKAB Release
While Tin prices have softened, China still struggles to source tin ore, which has decreased refined tin production by 31% mom.
349 Views
Metal Mining: Expect a Slower Quarter, but a Majority Beat in 9M24 Due to Low Expectations
We estimate the sector’s 3Q24 earnings to fall back on lower ASP, though they may still beat estimates due to low expectations.
135 Views