Alamtri Resources Indonesia (ADRO) Shares Surge
JAKARTA, investor.id – Shares of PT Alamtri Resources Indonesia Tbk (ADRO) suddenly jumped during trading on Monday (24/8/2026). At around 14.50 WIB, ADRO shares were at Rp 2,630, up 3.14%, reaching their highest level in the past three months.
ADRO shares also nearly touched their highest point in the past year at Rp 2,700.
A total of 42.72 million ADRO shares had been traded, with a frequency of 11,300 times and a transaction value of Rp 110.83 billion.
Alamtri Resources Indonesia shares suddenly moved into positive territory after the previous three days had been mostly in the red and once stagnant.
PT Alamtri Resources Indonesia Tbk (ADRO) will begin to reap cash from the operation of an aluminium smelter run by its subsidiary PT Kalimantan Aluminium Industry (KAI). This will be one of the catalysts for the strengthening of ADRO shares, which have been awarded a high target price.
According to DBS, ADRO’s other cash engines are also heating up this year. The strengthening price of hard coking coal will boost the company’s trading business, while the increase in the strip ratio of PT Adaro Andalan Indonesia Tbk (AADI) opens the way for growth in the contractor business.
“Going forward, AADI has the potential to increase its strip ratio, supported by the still-strong prospects for thermal coal prices,” DBS wrote, as quoted on Monday (17/8/2026).
Another important point, DBS wrote, is that KAI has already begun selling aluminium in June 2026, providing additional ammunition for ADRO.
On that basis, DBS maintained its buy recommendation on ADRO shares with a target price of Rp 3,200, based on the sum of parts (SOP) method and reflecting a 2026 PER of 14 times.
That valuation, according to DBS, reaches +1 standard deviation of the five-year average. DBS believes ADRO shares will continue to receive valuation increases, in line with the separation of the thermal coal business.
“The company will also reap net profit from the KAI aluminium project,” DBS wrote.