Phintraco kept IDR 2,310 target for Alamtri Minerals Indonesia stock
Published on 10/09/2026 at 12:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Phintraco maintained an IDR 2,310 target for Alamtri Minerals Indonesia stock on September 21, 2026.
- First-half 2026 revenue rose 39.30 percent to USD 583.87 million and net income increased 23.97 percent to USD 174.17 million.
- The stock was last at IDR 1,520.00 on IDX on October 9, 2026, with an IDR 62.1 trillion market capitalization.
- Logistics on the Barito River and the aluminum ramp-up remain key valuation factors.
Alamtri Minerals Indonesia (ID1000165608) was last at IDR 1,520.00 on the IDX on October 9, 2026 at 11:14 a.m. CEST, while Phintraco maintained its IDR 2,310 target on September 21, 2026. The company combines metallurgical coal mining with mineral processing and an aluminum smelter project.
Three milestones shaped the outlook
On September 14, 2026, first-half revenue stood at USD 583.87 million, up 31.52 percent from USD 443.94 million, while net income reached USD 174.17 million, up 23.97 percent from USD 140.49 million, according to Sinar Harapan. On September 23, 2026, Kontan reported that Phintraco kept its IDR 2,310 target while highlighting the aluminum ramp-up and Barito River logistics.
On October 8, 2026, Bisnis reported a third-quarter 2026 sales estimate of 500,000 to 700,000 tons for ADMR, compared with a 2026 projection of 6.00 million tons and an initial management target of 6.30 million tons.
What does aluminum add?
The first-half revenue mix remained concentrated in mining, with the mining products segment contributing USD 582.00 million, or 99.60 percent of total revenue, according to Kontan. The same report said the aluminum operation was in ramp-up, with first revenue expected in the second half of 2026 and first-stage capacity targeted at 500,000 tons by the end of 2026.
That transition is the central valuation question. Phintraco's target is 51.97 percent above the IDX quote of IDR 1,520.00, calculated in the same currency, but the operational bridge depends on both smelter execution and coal logistics.
Risks remain visible in logistics
Kontan reported that low Barito River levels temporarily restricted coking-coal shipments and could pressure operations in the coming quarter. The report also identified energy-price volatility and slower global steel demand as risks, while the company is developing five coal concession areas and an aluminum smelter in North Kalimantan, according to Alamtri Minerals Indonesia.
IDX quote stays below yearly high
Alamtri Minerals Indonesia had a market capitalization of IDR 62.1 trillion as of October 9, 2026. Its 52-week range was IDR 1,180.00 to IDR 2,320.00, placing the latest quote 34.48 percent below the yearly high.
The stock was last at IDR 1,520.00 on the IDX on October 9, 2026 at 11:14 a.m. CEST, versus IDR 1,500.00 previously, and the quote was 1.33 percent higher on the session. The further course of trading is shown by the continuously updated real-time quote of Alamtri Minerals Indonesia stock.
Alamtri Minerals Indonesia stock facts
- Company: PT Alamtri Minerals Indonesia Tbk
- ISIN: ID1000165608
- Ticker: ADMR
- Primary exchange: IDX
- Price on IDX as of October 9, 2026 at 11:14 a.m. CEST: IDR 1,520.00
- Change versus prior close: plus 1.33 percent
- Prior close on IDX: IDR 1,500.00
- Market capitalization: IDR 62.1 trillion as of October 9, 2026
- 52-week range: IDR 1,180.00-2,320.00
- Sector / Industry: Materials / metallurgical coal and mineral processing
- Index membership: IDX Composite
Market context: Market report IDX Composite.
