ANTM - IDX outlook

6月6日

ANTM shares have very good fundamentals. The current price is wrong because there are many issues that hit ANTM, such as the issue of 109 tons of gold which was thought to be fake gold, as well as the issue of Budi Said regarding demands for 1.1 tons of gold which was ultimately proven by Budi Said to be guilty and to have carried out a fake transaction with one of ANTM's marketers. These 2 sentiments have weighed on ANTM for more than 1 year.
However, judging from the company's fundamentals, Antam's Q1 had a major correction because ANTM expanded its mining and nickel projects. Apart from that, nickel prices are also putting pressure on ANTM because there is still a correction in nickel commodity prices.
ANTM still has very good company fundamentals
Why?
1. ANTM through Inalum and MIND ID base owns 51% of Freeport shares, and Freeport is the largest gold mine in the world.
2. The completion of the case of 109 tons of ANTM gold, which many thought was fake, will restore public confidence in ANTM investors.
3. We can feel that we will now enter a recovery phase for all countries after the tough years of 2020 to 2023. 2024 will be a little more stagnant because of the many presidential elections in various countries which makes investors choose to wait and put more money into bonds and deposit.
4. Recovery of nickel prices and other minerals caused by demand due to the race for progress and ESG will benefit ANTM
5. The price of gold is consolidating again to reach an all time high, especially as the FED and other countries may reduce interest rates, this will make the gold price likely to decrease its all time high around 2600-3000 in 2025-2026

Antm price target for the next 1 year: IDR 2400 -2600
Target price for Antam for the next 3 years = IDR 4200- 5500

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