The Composite Stock Price Index (IHSG) closed Wednesday’s (18/02) trading session with a 1.19% gain at 8,310.23. The rally was driven by banking and energy stocks, particularly PT Bank Mandiri (Persero) Tbk. (BMRI), which surged 3.94%, followed by PT Barito Renewables Energy Tbk. (BREN) rising 2.81%, and PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) gaining 1.32% as key contributors.

On the other hand, several stocks limited the index’s advance, including PT Dian Swastatika Sentosa Tbk. (DSSA), which fell 2.99%, PT Bumi Resources Minerals Tbk. (BRMS) declining 3.70%, and PT Chandra Asri Pacific Tbk. (TPIA) slipping 2.47%.

In terms of investor activity, foreign investors were notably aggressive net buyers. Net foreign purchases in the regular market reached Rp467.27 billion, while total net buying across all markets amounted to Rp1.44 trillion. All 11 sectoral indices ended in positive territory, with the transportation sector posting the highest gain at 3.25%.

The IHSG’s rebound following the Lunar New Year holiday, supported by foreign fund inflows and gains in the iShares MSCI Indonesia ETF (EIDO) of 0.28% and the MSCI Indonesia Index of 0.83%, is considered a potential positive catalyst for today’s trading.

Meanwhile, PT Merdeka Gold Resources Tbk., through its EMAS entity, officially conducted its first gold pour on February 14 at the Pani Gold Mine in Pohuwato Regency, Gorontalo. This milestone marks the commencement of commercial operations at the company’s gold processing facility. The Pani Gold Mine utilizes the heap leach method, targeting first-year production of 110,000–115,000 ounces of gold, exceeding the initial target of 80,000 ounces.

Looking ahead, EMAS plans to develop a Carbon-In-Leach (CIL) facility with a capacity of 12 million tons of ore per year, targeted for completion in 2028 and expected to begin operations as early as 2029, with an annual production goal of 500,000 ounces of gold.

On the corporate front, Mercury Strategic Indonesia will carry out a Mandatory Tender Offer (MTO) for shares of PT Surya Permata Andalan Tbk. (NATO). The MTO covers up to 5.85 billion shares, equivalent to 73.13% of total outstanding shares, at an offer price of Rp183 per share for the period from February 19 to March 20. Payment is scheduled for March 30, with total prepared funds reaching Rp1.07 trillion.

The offer price is above NATO’s 90-day average price of Rp162.38 per share, although still significantly below the last recorded market price of Rp650 per share as of February 18.

This MTO follows Mercury’s official status as NATO’s new controlling shareholder after acquiring 2.15 billion shares, or 26.87%, from PT Karunia Berkah Jayasejahtera in a transaction valued at Rp393.45 billion.

The following are today’s stock recommendations compiled by InvestasiKu:

RAJA
Buy 5200–5225 | TP 5400–5575 | SL 4890

HUMI
Buy 260–266 | TP 276–288 | SL 248

ADMR
Buy 1945–1955 | TP 1990–2030 | SL 1840

LEAD
Buy 194–197 | TP 202–210 | SL 183

ASSA
Buy 1210–1220 | TP 1245–1265 | SL 1140

Disclaimer: All analyses and stock recommendations in this article are for informational purposes only and do not constitute an invitation to buy or sell any particular stock. Investment decisions remain entirely the responsibility of each investor according to their individual risk profile and financial objectives. Invest wisely