Amman Mineral Internasional, ID1000191109

Amman Mineral Internasional stock trades at IDR 4,520 after earnings recovery

Published on 10/07/2026 at 09:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Amman Mineral Internasional stock posted first-half sales of USD 2,052.41 million on September 21, 2026, versus USD 182.6 million a year earlier. Nomura raised its target to IDR 6,400.

Amman Mineral Internasional, ID1000191109, Illustration mit AI erstellt.

Amman Mineral Internasional (ISIN ID1000191109) was trading at IDR 4,520 on the Indonesia Stock Exchange on October 7, 2026 at 2:19 p.m. WIB, up 0.44 percent from IDR 4,500. The market is weighing a sharp first-half earnings recovery against a share price that remains below its 52-week high of IDR 8,500.

First-half earnings reverse losses

According to MarketScreener on September 21, 2026, Amman Mineral Internasional reported USD 2,052.41 million in sales for the six months ended June 30, 2026, compared with USD 182.6 million in the same period of 2025. Net income reached USD 497.93 million, reversing a net loss of USD 148.72 million a year earlier.

The operating rebound also appeared in the second quarter. UOB Kay Hian reported on September 23, 2026 that second-quarter net profit attributable to shareholders reached USD 337.8 million, up 110.9 percent quarter over quarter, while net sales rose 54.0 percent quarter over quarter to USD 1,244 million.

Higher production supports targets

The production outlook strengthened after management lifted its 2026 gold-in-concentrate guidance by 34 percent to 775,000 ounces. RCTI reported on October 1, 2026 that Nomura raised its target price to IDR 6,400 from IDR 5,400 while maintaining a Buy recommendation.

UOB Kay Hian's second-quarter review also cited concentrate and refined-gold sales as key operating drivers. The same research reported a gross margin of 50.0 percent in Q2/2026, up from 42.4 percent in Q1/2026, giving investors a concrete measure of the improvement as smelter and precious-metals-refinery operations ramped up.

Consensus remains above market price

The analyst picture remains constructive but leaves a wide valuation gap. Investing.com lists eight analysts at a Strong Buy consensus, with an average 12-month target of IDR 7,094, a high target of IDR 9,550 and a low target of IDR 5,800. The average target lies 56.95 percent above the IDR 4,520 market price.

The main counter-factors are commodity prices, foreign-exchange movements, government policy and execution risk around the Elang project. UOB Kay Hian also linked the medium-term case to the mine plan and operating volumes, making production delivery as important as the reported earnings rebound.

Amman Mineral Internasional stock stays below yearly high

The IDR 4,520 price on the Indonesia Stock Exchange on October 7, 2026 stood within the session range of IDR 4,470 to IDR 4,560 and 46.82 percent below the 52-week high of IDR 8,500. The stock's market capitalization was IDR 327.3 trillion on the same date.