Alamtri Minerals Indonesia stock falls 1.32 percent as profit rises

Alamtri Minerals Indonesia (ISIN ID1000165608) was trading at IDR 1,490 on the IDX on October 7, 2026 at 2:44 p.m. WIB, down 1.32 percent from IDR 1,510. The move contrasts with a stronger first-half operating report and leaves the aluminum expansion as the central test for the valuation.

First half brings higher profit

According to Kontan on September 23, 2026, revenue for the first half of 2026 reached USD 584 million, up 39.3 percent year over year. Gross profit rose 54.2 percent to USD 227.8 million, lifting the gross margin to 47.6 percent.

Net income increased 24 percent to USD 174.2 million from USD 140.5 million in the first half of 2025, while metallurgical coal sales volume rose 9 percent year over year. Mining products generated USD 582 million, equal to 99.6 percent of first-half revenue, so the earnings base still rested overwhelmingly on coal.

Aluminum must add a second engine

The next growth phase depends on PT Kalimantan Aluminium Industry, whose smelter was still ramping up during the first half of 2026. The first phase is targeted at full capacity of 500,000 tons by the end of 2026, but aluminum had not yet contributed revenue in the reported period, according to Kontan.

That timing matters because coal logistics faced a measurable operational risk. Phintraco Sekuritas said low water levels on the Barito River temporarily restricted coal transport, while the same report cited the prospect of aluminum revenue in the second half of 2026. For Alamtri Minerals Indonesia, the earnings question is therefore whether smelter output can offset volatility in metallurgical coal shipments.

Target remains above market

Phintraco Sekuritas retained a buy recommendation and a target price of IDR 2,310 per share in the September 23, 2026 report carried by Kontan. The target lies 55.0 percent above the IDR 1,490 market price, making the smelter ramp-up and shipping conditions important reference points for that view.

Market data place the stock between an IDR 1,080 52-week low and an IDR 2,320 52-week high. The current price is 35.8 percent below the yearly high, while market capitalization stands at IDR 60.9 trillion and volume reached 8,108,700 shares on October 7, 2026.

Alamtri Minerals Indonesia stock trades lower

Alamtri Minerals Indonesia stock was last at IDR 1,490 on the IDX on October 7, 2026 at 2:44 p.m. WIB. The daily decline keeps the market focused on whether first-half profit growth will be followed by visible aluminum revenue.

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