Shares of PT Bumi Resources Tbk (BUMI), a coal mining company affiliated with the Bakrie and Salim Groups, are expected to continue strengthening in the near term.

In the latest trading session on Wednesday (December 24, 2025), BUMI shares declined by 4.74%, closing at Rp 362 per share.

Despite the short-term pullback, BUMI’s overall performance remains strong. Over the past month, the stock has surged by 64.5%, while year-to-date (YTD) gains have reached an impressive 206.7%.

BNI Sekuritas Retail Research Analyst KJ Hutabarat noted that BUMI’s near-term price target could reach around Rp 380 per share.

“BUMI is recommended as a buy on weakness, with an accumulation range of 330–350, a cut-loss below 330, and a short-term target of 360–380,” he wrote in a research note on Monday (December 29, 2025).

Similarly, CGS International Sekuritas Indonesia projects that BUMI shares could move within the range of Rp 377 to Rp 393.

However, foreign investor activity indicates selling pressure. On the latest trading day, Wednesday (December 24, 2025), BUMI recorded net foreign selling.

The total value of foreign net selling in BUMI shares reached Rp 181.8 billion during that trading session.