Merdeka Copper Gold (MDKA) Stock Overview

Engages in the mining activities in Indonesia. More details

MDKA fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	6/6
Past Performance	0/6
Financial Health	1/6
Dividends	0/6

Rewards

Trading at 64.4% below our estimate of its fair value

Earnings are forecast to grow 66.77% per year

Trading at good value compared to peers and industry

Analysts in good agreement that stock price will rise by 54.9%

Risk Analysis

Interest payments are not well covered by earnings

Volatile share price over the past 3 months compared to the ID market

MDKA Community Fair Values

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PT Merdeka Copper Gold Tbk Competitors

Price History & Performance

Summary of share price highs, lows and changes for Merdeka Copper Gold
Historical stock prices
Current Share Price	Rp2,580.00
52 Week High	Rp3,960.00
52 Week Low	Rp2,010.00
Beta	0.92
1 Month Change	0%
3 Month Change	-19.88%
1 Year Change	22.27%
3 Year Change	-23.67%
5 Year Change	-15.41%
Change since IPO	468.28%

Recent updates

Shareholder Returns

	MDKA	ID Metals and Mining	ID Market
7D	1.6%	1.9%	2.6%
1Y	22.3%	-27.8%	-18.2%

Return vs Industry: MDKA exceeded the ID Metals and Mining industry which returned -27.8% over the past year.

Return vs Market: MDKA exceeded the ID Market which returned -18.2% over the past year.

Price Volatility

Is MDKA's price volatile compared to industry and market?
MDKA volatility
MDKA Average Weekly Movement	12.8%
Metals and Mining Industry Average Movement	11.2%
Market Average Movement	8.2%
10% most volatile stocks in ID Market	16.4%
10% least volatile stocks in ID Market	4.4%

Stable Share Price: MDKA's share price has been volatile over the past 3 months compared to the ID market.

Volatility Over Time: MDKA's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of ID stocks.

About the Company

Founded	Employees	CEO	Website
2012	10,799	Albert Saputro	www.merdekacoppergold.com

PT Merdeka Copper Gold Tbk engages in the mining activities in Indonesia. It explores for gold, silver, copper, nickel, and other related minerals. The company holds 100% interest in its flagship Tujuh Bukit copper project.

PT Merdeka Copper Gold Tbk Fundamentals Summary

How do Merdeka Copper Gold's earnings and revenue compare to its market cap?
MDKA fundamental statistics
Market cap	Rp62.75t
Earnings (TTM)	-Rp15.73b
Revenue (TTM)	Rp36.42t

1.7x

P/S Ratio

-4,004x

P/E Ratio

Is MDKA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MDKA income statement (TTM)
Revenue	US$2.01b
Cost of Revenue	US$1.64b
Gross Profit	US$376.33m
Other Expenses	US$377.20m
Earnings	-US$869.52k

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	-0.000036
Gross Margin	18.70%
Net Profit Margin	-0.043%
Debt/Equity Ratio	73.9%

How did MDKA perform over the long term?

See historical performance and comparison

Dividends

0.5%

Current Dividend Yield

-2,100%

Payout Ratio

Does MDKA pay a reliable dividends?

See MDKA dividend history and benchmarks

When do you need to buy MDKA by to receive an upcoming dividend?
Merdeka Copper Gold dividend dates
Ex Dividend Date	Jul 02 2026
Dividend Pay Date	Jul 24 2026
Days until Ex dividend	8 days
Days until Dividend pay date	14 days

Does MDKA pay a reliable dividends?

See MDKA dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/07/09 10:49
End of Day Share Price	2026/07/09 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PT Merdeka Copper Gold Tbk is covered by 23 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jacquelin Hamdani	CGS International
Tingshuai Feng	China International Capital Corporation Limited
Yan Chen	China International Capital Corporation Limited

Merdeka Copper Gold (MDKA) Stock Overview

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Risk Analysis

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PT Merdeka Copper Gold Tbk Competitors

Merdeka Battery Materials

Trimegah Bangun Persada

Petrosea

Vale Indonesia

Price History & Performance

Recent News & Updates

First quarter 2026 earnings: EPS and revenues miss analyst expectations

New minor risk - Share price stability

Director recently bought Rp9.8b worth of stock

PT Merdeka Copper Gold Tbk, Annual General Meeting, Jun 11, 2026

Full year 2025 earnings released: US$0.002 loss per share (vs US$0.002 loss in FY 2024)

Now 21% undervalued

Recent updates

First quarter 2026 earnings: EPS and revenues miss analyst expectations

New minor risk - Share price stability

Director recently bought Rp9.8b worth of stock

PT Merdeka Copper Gold Tbk, Annual General Meeting, Jun 11, 2026

Full year 2025 earnings released: US$0.002 loss per share (vs US$0.002 loss in FY 2024)

Now 21% undervalued

Commissioner recently bought Rp480m worth of stock

Commissioner recently bought Rp459m worth of stock

Commissioner recently bought Rp459m worth of stock

Now 25% undervalued

Third quarter 2025 earnings: EPS and revenues miss analyst expectations

Less than half of directors are independent

PT Merdeka Copper Gold Tbk, Annual General Meeting, Jun 10, 2025

New major risk - Financial position

Second quarter 2024 earnings released: EPS: US$0 (vs US$0.002 loss in 2Q 2023)

First quarter 2024 earnings released: US$0.001 loss per share (vs US$0 in 1Q 2023)

PT Merdeka Copper Gold Tbk, Annual General Meeting, Jun 12, 2024

Now 22% overvalued

Full year 2023 earnings released: US$0.001 loss per share (vs US$0.002 profit in FY 2022)

New minor risk - Share price stability

Second quarter 2023 earnings released: US$0.002 loss per share (vs US$0.001 profit in 2Q 2022)

New major risk - Revenue and earnings growth

First quarter 2023 earnings released: EPS: US$0 (vs US$0.003 in 1Q 2022)

Consensus EPS estimates fall by 25%

Consensus revenue estimates increase by 20%

Full year 2022 earnings released: EPS: US$0.003 (vs US$0.002 in FY 2021)

Consensus forecasts updated

Consensus forecasts updated

Consensus forecasts updated

Third quarter 2022 earnings released: US$0.001 loss per share (vs US$0.001 profit in 3Q 2021)

Consensus forecasts updated

Consensus forecasts updated

Less than half of directors are independent

Second quarter 2022 earnings released: EPS: US$0.001 (vs US$0 in 2Q 2021)

Consensus revenue estimates increase by 15%

Investor sentiment improved over the past week

Less than half of directors are independent

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Andalan International Pte Ltd and PT Merdeka Copper Gold Tbk (IDX:MDKA) agreed to acquire an unknown minority stake in Pani IUP Project from Lion Manager Pty Ltd for $52 million.

Third quarter 2021 earnings: EPS and revenues miss analyst expectations

Price target increased to Rp3,410

Second quarter 2021 earnings released: EPS US$0.001 (vs US$0.001 in 2Q 2020)

Consensus forecasts updated

Investor sentiment improved over the past week

Price target increased to Rp3,054

New 90-day high: Rp2,830

New 90-day high: Rp2,800

Price target raised to Rp2,365

Third quarter 2020 earnings released: EPS US$0.001

Investor sentiment improved over the past week

New 90-day high: Rp2,240

New 90-day high: Rp1,995

New 90-day high: Rp1,965

Shareholder Returns

Price Volatility

About the Company

PT Merdeka Copper Gold Tbk Fundamentals Summary

Earnings & Revenue

Dividends

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake