Verdhana started Buy coverage on Hartadinata Abadi stock

Published on 10/08/2026 at 12:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Verdhana set an IDR 2,900 target on September 11, 2026. Hartadinata Abadi stock faces 460,526,240 new shares on October 16, 2026.

Hartadinata Abadi, ID1000139405, Illustration mit AI erstellt.

Verdhana started Buy coverage on Hartadinata Abadi stock with an IDR 2,900 price target on September 11, 2026, according to MarketScreener. The analyst action gives Hartadinata Abadi a fresh valuation reference as the Indonesian gold company expands distribution and prepares a capital transaction.

Target sits above the market quote

Hartadinata Abadi was trading at IDR 2,110 on the Jakarta Stock Exchange on October 8, 2026, while the 52-week range stood at IDR 1,015 to IDR 3,440. The IDR 2,900 target lies 37.44 percent above that exchange quote, calculated from the two IDR values.

The company is listed under ticker HRTA and is classified as a gold jewelry manufacturer. Its business covers jewelry production, wholesale distribution, retail stores, refining services and pawn-related activities, according to the company profile carried by MarketScreener.

Bank Mandiri opens a gold channel

Hartadinata signed a one-year agreement with Bank Mandiri on October 2, 2026 to sell EMASKU gold products through the bank. Liputan6 reported that the range includes minted bars from 1 gram to 100 grams and cast bars from 250 grams to 1,000 grams.

The agreement matters operationally because Hartadinata acts as seller and Bank Mandiri as buyer, giving the EMASKU brand an additional institutional distribution route. The products carry 99.99 percent gold purity, and management said the arrangement should strengthen distribution and support operating continuity, according to the same disclosure reported by Liputan6.

Private placement brings dilution

Hartadinata plans to seek approval on October 16, 2026 for a private placement of up to 460,526,240 new shares, equal to 10 percent of issued and paid-in capital. The proceeds are intended for working capital and stronger financial flexibility, Liputan6 reported.

The proposed issue also creates a measurable counterweight to the distribution opportunity: existing holders face dilution of 9.09 percent if the full issuance proceeds. The shareholder meeting therefore puts capital access and ownership dilution in the same decision frame.

Results date is October 29

Hartadinata's next earnings report is scheduled for October 29, 2026, according to Investing.com. That date gives investors the next formal checkpoint for assessing whether the new distribution channel and planned financing are reflected in reported results.

Jakarta quote and market range

On October 8, 2026, Hartadinata Abadi was trading at IDR 2,110 on the Jakarta Stock Exchange, against a 52-week high of IDR 3,440 and a 52-week low of IDR 1,015.