Bukit Asam stock faces a production approval test

Published on 10/07/2026 at 10:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bukit Asam stock was trading at IDR 3,380 on October 7, 2026, as the miner seeks approval for an affiliate contractor. First-half profit rose 218.1 percent year over year.

Bukit Asam, ID1000094006, Illustration mit AI erstellt.

Bukit Asam stock (ISIN ID1000094006) was trading at IDR 3,380 on Indonesia S.E. on October 7, 2026, down 0.59 percent from the prior close. The immediate company issue is production continuity, as PT Bukit Asam seeks approval to use affiliate PT Satria Bahana Sarana as a mining contractor for its 2027 plan.

Approval shapes production planning

According to detikFinance on October 6, 2026, Bukit Asam submitted a request to use PT Satria Bahana Sarana under Energy and Mineral Resources Ministry Regulation 365.K/MB.01/MEM.B/2026. The application is tied to the company's proposed 2027 work plan and budget.

The company reported that domestic sales reached 10.77 million tons in the first half of 2026, equal to 51 percent of total sales, according to detikFinance on October 6, 2026. That mix makes regulatory approval relevant to both production planning and domestic supply commitments.

Profit recovery adds financial support

For the six months ended June 30, 2026, revenue reached IDR 22,027.9 billion, up from IDR 20,452.4 billion a year earlier. Net profit attributable to owners rose to IDR 2,649.9 billion from IDR 833.0 billion, a 218.1 percent increase, according to Quartr in its September 7, 2026 earnings summary. Revenue therefore increased 7.7 percent year over year, while the profit comparison was considerably stronger.

The quarterly figures show the source of that improvement. Second-quarter revenue was IDR 12,098.2 billion and net income was IDR 1,848.1 billion, compared with first-quarter revenue of IDR 9,929.7 billion and net income of IDR 801.8 billion, based on the 2026 quarterly financial statements. The second-quarter rebound gives the approval process greater operational importance because production execution remains central to the earnings recovery.

Analyst target remains above price

Mirae Asset Sekuritas upgraded Bukit Asam from Sell to Buy on September 9, 2026, and raised its target to IDR 3,870. The target is IDR 490, or 14.5 percent, above the October 7 price, while the research cited a 2026 production target of 49.5 million tons and risks from weaker coal prices, higher fuel costs and downstream capital spending.

Stock trades below yearly high

Bukit Asam stock was trading at IDR 3,380 on Indonesia S.E. at 3:21 p.m. WIB on October 7, 2026. The session range was IDR 3,360 to IDR 3,490, volume was 29,464,300 shares, and the 52-week range was IDR 2,170 to IDR 3,490. Market capitalization stood at IDR 38.9 trillion on the same date.