PT Aneka Tambang Tbk

IDX:ANTM Stock Report

Market Cap: Rp34.8t

Aneka Tambang Valuation

Is ANTM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ANTM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ANTM (IDR1450) is trading below our estimate of fair value (IDR4093.01)

Significantly Below Fair Value: ANTM is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ANTM?

Key metric: As ANTM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ANTM. This is calculated by dividing ANTM's market cap by their current earnings.
What is ANTM's PE Ratio?
PE Ratio14.3x
EarningsRp2.43t
Market CapRp34.84t

Price to Earnings Ratio vs Peers

How does ANTM's PE Ratio compare to its peers?

The above table shows the PE ratio for ANTM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average46.5x
PSAB J Resources Asia Pasifik
70.2xn/aRp8.7t
INCO Vale Indonesia
26.7x28.4%Rp38.6t
NCKL Trimegah Bangun Persada
9.3x19.9%Rp52.7t
MBMA Merdeka Battery Materials
79.7x56.1%Rp59.4t
ANTM Aneka Tambang
14.3x21.0%Rp34.8t

Price-To-Earnings vs Peers: ANTM is good value based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (46.5x).

Price to Earnings Ratio vs Industry

How does ANTM's PE Ratio compare vs other companies in the ID Metals and Mining Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GGRP Gunung Raja Paksi
2.6xn/aUS$161.76m
ISSP Steel Pipe Industry of Indonesia
4xn/aUS$125.52m
DKFT Central Omega Resources
4.3xn/aUS$76.42m
No more companies available in this PE range
ANTM 14.3xIndustry Avg. 16.4xNo. of Companies5PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ANTM is good value based on its Price-To-Earnings Ratio (14.3x) compared to the ID Metals and Mining industry average (16.4x).

Price to Earnings Ratio vs Fair Ratio

What is ANTM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ANTM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.3x
Fair PE Ratio21.6x

Price-To-Earnings vs Fair Ratio: ANTM is good value based on its Price-To-Earnings Ratio (14.3x) compared to the estimated Fair Price-To-Earnings Ratio (21.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ANTM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp1,450.00
Rp1,854.33
+27.9%
13.9%Rp2,315.00Rp1,400.00n/a15
Nov ’25Rp1,520.00
Rp1,828.33
+20.3%
13.8%Rp2,425.00Rp1,400.00n/a15
Oct ’25Rp1,500.00
Rp1,719.33
+14.6%
11.3%Rp2,000.00Rp1,400.00n/a15
Sep ’25Rp1,390.00
Rp1,716.00
+23.5%
12.8%Rp2,000.00Rp1,400.00n/a15
Aug ’25Rp1,345.00
Rp1,702.67
+26.6%
12.6%Rp2,000.00Rp1,400.00n/a15
Jul ’25Rp1,305.00
Rp1,892.86
+45.0%
21.1%Rp2,660.00Rp1,300.00n/a14
Jun ’25Rp1,465.00
Rp2,011.00
+37.3%
25.5%Rp3,250.00Rp1,300.00n/a15
May ’25Rp1,640.00
Rp2,065.59
+26.0%
20.7%Rp3,250.00Rp1,400.00n/a17
Apr ’25Rp1,580.00
Rp2,104.33
+33.2%
20.6%Rp3,250.00Rp1,400.00n/a15
Mar ’25Rp1,480.00
Rp2,135.77
+44.3%
19.4%Rp3,250.00Rp1,750.00n/a13
Feb ’25Rp1,535.00
Rp2,233.46
+45.5%
20.7%Rp3,250.00Rp1,750.00n/a13
Jan ’25Rp1,705.00
Rp2,283.00
+33.9%
17.2%Rp3,250.00Rp1,750.00n/a15
Dec ’24Rp1,705.00
Rp2,347.67
+37.7%
15.5%Rp3,250.00Rp1,800.00n/a15
Nov ’24Rp1,650.00
Rp2,565.77
+55.5%
15.9%Rp3,500.00Rp2,100.00Rp1,520.0013
Oct ’24Rp1,815.00
Rp2,603.93
+43.5%
13.5%Rp3,500.00Rp2,150.00Rp1,500.0014
Sep ’24Rp1,955.00
Rp2,649.64
+35.5%
13.6%Rp3,500.00Rp2,150.00Rp1,390.0014
Aug ’24Rp2,040.00
Rp2,670.00
+30.9%
13.2%Rp3,500.00Rp2,150.00Rp1,345.0015
Jul ’24Rp1,950.00
Rp2,743.75
+40.7%
12.1%Rp3,500.00Rp2,300.00Rp1,305.0016
Jun ’24Rp1,895.00
Rp2,764.06
+45.9%
11.8%Rp3,500.00Rp2,300.00Rp1,465.0016
May ’24Rp2,100.00
Rp2,744.06
+30.7%
13.1%Rp3,500.00Rp2,030.00Rp1,640.0016
Apr ’24Rp2,090.00
Rp2,756.76
+31.9%
12.8%Rp3,500.00Rp2,030.00Rp1,580.0017
Mar ’24Rp2,000.00
Rp2,750.88
+37.5%
14.5%Rp3,500.00Rp2,030.00Rp1,480.0017
Feb ’24Rp2,370.00
Rp2,792.06
+17.8%
15.6%Rp3,700.00Rp2,030.00Rp1,535.0017
Jan ’24Rp1,985.00
Rp2,832.81
+42.7%
16.3%Rp3,700.00Rp2,030.00Rp1,705.0016
Dec ’23Rp2,040.00
Rp2,813.24
+37.9%
17.8%Rp3,700.00Rp1,680.00Rp1,705.0017
Nov ’23Rp1,810.00
Rp2,922.19
+61.4%
20.5%Rp4,150.00Rp1,680.00Rp1,650.0016

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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