Aneka Tambang (ANTM.IJ0 - Expect Heavier Margin Pressure in FY24
We trim our nickel ore price assumption by 7.0% to US$40/t, which lead to lower FY24F earnings estimate for ANTM by 6.4% to Rp3.7tr.
439 Views
Aneka Tambang (ANTM.IJ) - Expect Heavier Margin Pressure in FY24
We trim our nickel ore price assumption by 7.0% to US$40/t, which lead to lower FY24F earnings estimate for ANTM by 6.4% to Rp3.7tr.
429 Views
Aneka Tambang (ANTM IJ) - Expect More Pressure from Lower Nickel Price
We expect nickel ore will remain as ANTM’s main driver (37% of total GP) in FY24, despite more pressure from the expected further nickel price...
343 Views
Metal Mining - Expect nickel price and margins to stabilize, but volume will be key drivers in 2H23
Using China NPI price as a proxy, we noted that price have bottomed in USD13,182/ton in July 2023, following weakness since 2Q23 due to oversupply...
425 Views
Aneka Tambang (ANTM IJ) - The Unsung Hero
We believe ANTM will be the main beneficiary from the improving nickel surplus balance in 2023 as more nickel ore is required to feed the smelters
252 Views