A Look at 5 Stock Recommendations with Profit Potential Today

Jakarta, CNBC Indonesia - The Indonesia Composite Index (IHSG) closed weaker by 0.88% to the level of 6,384.73 in Monday’s (21/9) trading.

A number of stocks were recorded as index drivers, with MPRO rising 3.64%, COIN strengthening by 12.58%, and TPIA increasing by 2.45%. On the other hand, BYAN fell 5.06%, BBCA weakened by 1.19%, and TLKM corrected by 2.34%.

Foreign investors recorded a net sell of Rp503.12 billion in the regular market and Rp510.07 billion across all markets.

From a sectoral perspective, eight out of 11 sectors ended in the red zone. The Infrastructure sector recorded the deepest decline of 1.38%, while the Transportation sector was the highest performer, gaining 0.55%.

Movement in the United States (US) stock exchanges ended positively. The Dow Jones rose 0.71% to the level of 52,048, the S&P 500 strengthened by 1.49% to 7,764, and the Nasdaq rose 2.26% to 27,122.

Pressure on the IHSG came partly from profit-taking on BYAN shares after a 19.96% surge during Friday’s trading. The decline in BYAN contributed a negative 11.41 points to the IHSG.

Furthermore, Vietnam’s upgrade to a Secondary Emerging Market by FTSE, effective 21 September, has also drawn market attention regarding potential changes in foreign fund allocation in the region. This sentiment was reflected in the decline of the EIDO ETF index by 0.88% and the MSCI Indonesia index by 1.13%.

Regarding corporate actions, Amman Mineral Internasional (AMMN) booked a net profit attributable to owners of the parent entity of US$497.93 million in the first half of 2026. This achievement represents a reversal from a net loss of US$148.72 million in the same period the previous year.

This performance is in line with a surge in net sales of 1,024.02% year-on-year to US$2.05 billion from the previous US$182.59 million. The increase in sales was supported by higher production volumes, improved Grade 8 ore, and rising commodity prices.

The improvement in Grade 8 ore also prompted AMMN to raise its gold-in-concentrate production guidance for 2026 by 34% to 775 koz, from the previous 579 koz.

The company also set new guidance for copper cathode production at 130 kt and pure gold at 350 koz, after the smelter received the Project Acceptance Certificate (PAC) on 24 July 2026.

In terms of reserves, the updated Joint Ore Reserves Committee (JORC) data as of 30 June 2026 shows that Batu Hijau ore reserves increased to 777 million tonnes, up from 705 million tonnes as of 31 December 2024. Meanwhile, Elang ore reserves rose to 2.58 billion tonnes from 2.52 billion tonnes in the same period.

The Elang project is targeted to reach the Final Investment Decision (FID) stage in 2027, with the first ore production projected around 2031–2032. The development of the project will utilise much of the infrastructure already owned by the company.

Next, Bayan Resources (BYAN) has successfully obtained approval from the Ministry of Energy and Mineral Resources (ESDM) for the amendment of the RKAB (Work Plan and Budget) for three of its subsidiaries. This approval provides an additional coal production quota of approximately 15 million–20 million tonnes.

With this approval, the risk of production constraints due to the unissued RKAB can be mitigated. Previously, this condition had led BYAN to issue a force majeure notice.

The additional quota also reduces the risk of a decline in production volume, which Moody’s had previously estimated at only around 39 million tonnes in 2026 if the quota revision was not approved. For comparison, BYAN’s production in 2025 was recorded at approximately 68 million tonnes.

On the other hand, the plan for PT Jhonlin Baratama to acquire 10 billion shares of BYAN, or approximately 30%, is still awaiting approval from the Ministry of ESDM.

Approval is required because Law No. 3/2020 and Government Regulation No. 96/2021 stipulate that holders of IUP/IUPK cannot transfer share ownership without obtaining permission from the minister.

Meanwhile, Indonesia Fibreboard Industry (IFII) is setting an interim cash dividend for the 2026 fiscal year of Rp5 per share, with a total value of approximately Rp47.06 billion.

This decision was made after the company booked a current period profit of Rp78.12 billion in the first half of 2026. As of 30 June 2026, IFII has unappropriated retained earnings of Rp453.72 billion and total equity of Rp1.41 trillion.

The interim dividend is equivalent to a dividend payout ratio of 60.24% of the current period profit for the first half of 2026.

In Monday’s (21/9) trading, IFII shares closed at the level of Rp212 per share, up 0.95%. At this price, the interim dividend of Rp5 per share reflects a dividend yield of 2.36%.

The dividend cum date for the regular and negotiation markets is set for 28 September 2026, while the dividend payment is scheduled for 15 October 2026.

Stock Recommendations for Today:

• IRSX - Buy 448-452 | TP 460-470 | SL 426

• BIPI - Buy 147-149 | TP 153-156 | SL 140

• BULL - Buy 398-402 | TP 410-416 | SL 380

• TRIN - Buy 394-398 | TP 408-416 | SL 376

• MAPA - Buy 690-700 | TP 710-720 | SL 655

Disclaimer: Please note that all analyses and stock recommendations in this article are for informational purposes only and do not constitute an invitation to buy or sell specific stocks.