Bukit Asam targets 50 million tons: Wafi assigns IDR 3,100 to Bukit Asam stock

Published on 10/14/2026 at 12:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Profit hit IDR 2.65 trillion in first-half 2026, up 218 percent. Bukit Asam stock costs EUR 0.16 on October 14, 2026, with IDR 3,100 targets.

Output and earnings set the frame

Bukit Asam targeted 50 million tons of production for 2026 on October 5, 2026.
First-half net profit reached IDR 2.65 trillion, up 218 percent year over year.
Bukit Asam stock was trading at EUR 0.16 at 12:05 p.m. CEST at Lang & Schwarz on October 14, 2026.

Bukit Asam, ID1000094006, Illustration mit AI erstellt.

Bukit Asam (ID1000094006) is targeting 50 million tons of coal production for 2026, while analyst Muhammad Wafi set an IDR 3,100 target for Bukit Asam stock, according to Kontan on October 13, 2026. The combination of higher output capacity and working-capital pressure gives the stock a sharply divided operating picture.

Production capacity is expanding

Kontan reported that Bukit Asam had an approved 2026 production quota of 53 million tons, against an analyst assumption of 49.60 million tons. Second-quarter production stood at 12.83 million tons, leaving the company needing 30.20 million tons in the second half to reach that assumption.

The operating comparison is important because first-half stripping ratio was 5.26 times, below the 5.63-times company target for 2026 and the 6.17-times level recorded in the first half of 2025, according to Kontan.

What supports the output plan?

CNBC Indonesia reported that first-half 2026 net profit rose 218 percent year over year to IDR 2.65 trillion, while revenue increased 8 percent to IDR 22.03 trillion. Coal production reached 19.45 million tons and sales totaled 21.10 million tons in the same period.

The counter-factor is cash conversion. Kontan cited an expectation that operating cash flow could decline as receivables from PLN and inventories rise, even as EBITDA was projected to grow 56 percent in 2026. The article also cited Wafi's IDR 3,100 target, Christine Nathania's IDR 3,430 target and Arnanto Januari's underweight view with an IDR 2,720 target for December 2027.

Three operating milestones

On October 5, 2026, IDXChannel reported that Bukit Asam was preparing a 2027 production plan while targeting 49.50 million tons for 2026. On October 10, 2026, IDXChannel reported IDR 33.04 billion of third-quarter exploration spending and 76 completed drilling points. On October 13, 2026, Kontan reported the 53 million-ton quota and the 12.83 million-ton second-quarter production figure.

For investors, the key tension is visible in the numbers: production capacity is available, but the company must convert that capacity into shipments while managing receivables and logistics. Bukit Asam's first-half profit growth provides a strong earnings base, while the differing analyst targets show that cash flow and coal-market execution remain central valuation variables.

Current euro quotation

Bukit Asam stock was trading at EUR 0.16 at Lang & Schwarz on October 14, 2026 at 12:05 p.m. CEST. The IDX quote was IDR 3,270 at 9:14 a.m. UTC on October 14, 2026, while the 52-week range was IDR 2,170 to IDR 3,490 and market capitalization was IDR 37.7 trillion.

The further course of trading is shown by the continuously updated real-time quote of Bukit Asam stock.