Merdeka Copper Gold stock falls 14.74 percent, 38.64 percent below high

Published on 10/16/2026 at 15:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half 2026 revenue rose 64.10 percent to USD 1.40 billion. Merdeka Copper Gold stock costs IDR 2,430 on the IDX, down 14.74 percent versus IDR 2,850.

Trading range and company results

Merdeka Copper Gold fell 14.74 percent on the IDX on October 16, 2026.
First-half 2026 revenue rose 64.10 percent to USD 1.40 billion.
Merdeka Copper Gold stock last stood at IDR 2,430 on October 16, 2026 at 4:14 p.m. WIB, down 14.74 percent versus the IDX prior close of October 15, 2026.
Market capitalization was IDR 59.3 trillion and the price-earnings ratio was 58.66.

Merdeka Copper Gold, ID1000134406, Illustration mit AI erstellt.

Merdeka Copper Gold stock (ISIN ID1000134406) fell 14.74 percent on the IDX on October 16, 2026. The stock last stood at IDR 2,430 on the IDX on October 16, 2026 at 4:14 p.m. WIB, down 14.74 percent versus the IDX prior close of IDR 2,850.

Revenue growth and earnings

The company's first-half 2026 revenue rose 64.10 percent year over year to USD 1.40 billion, while net income attributable to parent-company owners reached USD 101.60 million. Kontan reported those figures on October 9, 2026, noting that second-quarter revenue increased 26.10 percent from the prior quarter to USD 782.10 million.

The operating picture was stronger than the headline share move. First-half 2026 gold output reached 49,400 ounces at Tujuh Bukit and 17,400 ounces at Pani, while second-quarter Pani output reached 15,600 ounces, according to Kontan.

Price position on the IDX

The current price sits IDR 380, or 18.54 percent, above the 52-week low of IDR 2,050 and IDR 1,530, or 38.64 percent, below the 52-week high of IDR 3,960. Trading volume reached 25,092,800 shares against an average of 36,336,028 shares.

Valuation and dates

Merdeka Copper Gold had a market capitalization of IDR 59.3 trillion and a price-earnings ratio of 58.66 on October 16, 2026. Its dividend yield was 0.01 percent. The next dated financing milestone is the listing of the new bonds on October 21, 2026, after the allocation date of October 16, 2026, as reported by EmitenNews.

Comparison with peers

Merdeka Copper Gold (IDX, IDR): minus 14.74 percent, P/E 58.66, market capitalization IDR 59.3 trillion

PT ANTAM (Persero) (IDX, IDR): minus 14.72 percent, P/E 6.88, market capitalization IDR 61.3 trillion

PT Vale Indonesia (IDX, IDR): minus 14.81 percent, P/E 13.30, market capitalization IDR 36.4 trillion

The stock's trading frame

Merdeka Copper Gold's October 16 decline was broadly in line with the two selected Indonesian materials peers, while its valuation multiple remained materially higher. The combination of a 38.64 percent gap below the 52-week high and a 58.66 price-earnings ratio leaves the market weighing current operating growth against the price already assigned to it.