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MDKA

Merdeka Copper Gold IDX:MDKA Stock Report

Last Price

Rp4.24k

Market Cap

Rp97.1t

7D

-5.1%

1Y

58.8%

Updated

18 Aug, 2022

Data

Company Financials +
MDKA fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance4/6
Financial Health4/6
Dividends0/6

MDKA Stock Overview

PT Merdeka Copper Gold Tbk engages in the mining business in Indonesia.

Merdeka Copper Gold Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Merdeka Copper Gold
Historical stock prices
Current Share PriceRp4,240.00
52 Week HighRp5,800.00
52 Week LowRp2,420.00
Beta0.60
1 Month Change12.47%
3 Month Change-12.76%
1 Year Change58.80%
3 Year Change248.97%
5 Year Change802.13%
Change since IPO833.92%

Recent News & Updates

Shareholder Returns

MDKAID Metals and MiningID Market
7D-5.1%-4.3%-0.3%
1Y58.8%22.5%15.1%

Return vs Industry: MDKA exceeded the ID Metals and Mining industry which returned 20.7% over the past year.

Return vs Market: MDKA exceeded the ID Market which returned 12.5% over the past year.

Price Volatility

Is MDKA's price volatile compared to industry and market?
MDKA volatility
MDKA Average Weekly Movement8.5%
Metals and Mining Industry Average Movement6.9%
Market Average Movement5.9%
10% most volatile stocks in ID Market11.1%
10% least volatile stocks in ID Market2.9%

Stable Share Price: MDKA is more volatile than 75% of ID stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: MDKA's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of ID stocks.

About the Company

FoundedEmployeesCEOWebsite
20124,143Albert Saputrohttps://www.merdekacoppergold.com

PT Merdeka Copper Gold Tbk engages in the mining business in Indonesia. It explores for gold, silver, copper, and other related minerals, as well as provides mining services. The company holds interests in the Tujuh Bukit Copper project; Pani Gold project; Wetar/Morowali Acid Iron Metal; Tujuh Bukit Gold project; nickel mining and refining assets; and Wetar Copper project.

Merdeka Copper Gold Fundamentals Summary

How do Merdeka Copper Gold's earnings and revenue compare to its market cap?
MDKA fundamental statistics
Market CapRp97.11t
Earnings (TTM)Rp1.64t
Revenue (TTM)Rp6.76t

59.4x

P/E Ratio

14.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MDKA income statement (TTM)
RevenueUS$457.50m
Cost of RevenueUS$289.54m
Gross ProfitUS$167.96m
Other ExpensesUS$57.18m
EarningsUS$110.77m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.0048
Gross Margin36.71%
Net Profit Margin24.21%
Debt/Equity Ratio69.5%

How did MDKA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

MDKA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue15.6x
Enterprise Value/EBITDA27.9x
PEG Ratio2.4x

Price to Earnings Ratio vs Peers

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

MDKA PE Ratio vs Peers
The above table shows the PE ratio for MDKA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.2x
INCO Vale Indonesia
16.7x-1.7%Rp63.3t
TINS TIMAH
5.8x-18.9%Rp11.0t
BRMS Bumi Resources Minerals
32.2x-5.9%Rp32.3t
PTRO Petrosea
6.2xn/aRp3.0t
MDKA Merdeka Copper Gold
59.4x24.3%Rp97.1t

Price-To-Earnings vs Peers: MDKA is expensive based on its Price-To-Earnings Ratio (59.4x) compared to the peer average (15.2x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: MDKA is expensive based on its Price-To-Earnings Ratio (59.4x) compared to the ID Metals and Mining industry average (15.7x)


Price to Earnings Ratio vs Fair Ratio

What is MDKA'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.

MDKA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio59.4x
Fair PE Ratio25.4x

Price-To-Earnings vs Fair Ratio: MDKA is expensive based on its Price-To-Earnings Ratio (59.4x) compared to the estimated Fair Price-To-Earnings Ratio (25.4x).


Share Price vs Fair Value

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

Below Fair Value: MDKA (IDR4240) is trading above our estimate of fair value (IDR1056.69)

Significantly Below Fair Value: MDKA is trading above our estimate of fair value.


Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Merdeka Copper Gold forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


24.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MDKA's forecast earnings growth (24.3% per year) is above the savings rate (7%).

Earnings vs Market: MDKA's earnings (24.3% per year) are forecast to grow faster than the ID market (10.6% per year).

High Growth Earnings: MDKA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MDKA's revenue (32.8% per year) is forecast to grow faster than the ID market (10.4% per year).

High Growth Revenue: MDKA's revenue (32.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MDKA's Return on Equity is forecast to be low in 3 years time (15.5%).


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Past Performance

How has Merdeka Copper Gold performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


6.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MDKA has a large one-off gain of $33.2M impacting its March 31 2022 financial results.

Growing Profit Margin: MDKA's current net profit margins (24.2%) are higher than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: MDKA has become profitable over the past 5 years, growing earnings by 6.3% per year.

Accelerating Growth: MDKA's earnings growth over the past year (582.1%) exceeds its 5-year average (6.3% per year).

Earnings vs Industry: MDKA earnings growth over the past year (582.1%) exceeded the Metals and Mining industry 68.2%.


Return on Equity

High ROE: MDKA's Return on Equity (11.7%) is considered low.


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Financial Health

How is Merdeka Copper Gold's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MDKA's short term assets ($428.6M) do not cover its short term liabilities ($523.0M).

Long Term Liabilities: MDKA's short term assets ($428.6M) exceed its long term liabilities ($349.5M).


Debt to Equity History and Analysis

Debt Level: MDKA's net debt to equity ratio (50.5%) is considered high.

Reducing Debt: MDKA's debt to equity ratio has reduced from 95.1% to 69.5% over the past 5 years.

Debt Coverage: MDKA's debt is well covered by operating cash flow (36.9%).

Interest Coverage: MDKA's interest payments on its debt are well covered by EBIT (10x coverage).


Balance Sheet


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Dividend

What is Merdeka Copper Gold current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate MDKA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MDKA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MDKA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MDKA's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MDKA has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Albert Saputro (35 yo)

1.25yrs

Tenure

Mr. Albert Saputro serves as President Director at PT Merdeka Copper Gold Tbk since May 25, 2021. Mr. Saputro served as an Head of Investor Relations Division at PT Saratoga Investama Sedaya Tbk. He once s...


Leadership Team

Experienced Management: MDKA's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

Experienced Board: MDKA's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PT Merdeka Copper Gold Tbk's employee growth, exchange listings and data sources


Key Information

  • Name: PT Merdeka Copper Gold Tbk
  • Ticker: MDKA
  • Exchange: IDX
  • Founded: 2012
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: Rp97.114t
  • Shares outstanding: 22.90b
  • Website: https://www.merdekacoppergold.com

Number of Employees


Location

  • PT Merdeka Copper Gold Tbk
  • The Convergence Indonesia
  • 20th Floor
  • Jakarta
  • Jakarta Raya
  • 12940
  • Indonesia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/18 00:00
End of Day Share Price2022/08/18 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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 here.