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Investasi Emas Kinclong: Prospek Saham Merdeka Gold Resources di 2026

Investasi Emas Kinclong: Prospek Saham Merdeka Gold Resources di 2026

PT Merdeka Gold Resources Tbk (EMAS), anak usaha Merdeka Copper Gold (MDKA), menawarkan prospek investasi emas yang menarik di 2026 berkat proyek Tambang Pani yang siap produksi. Saham EMAS yang IPO pada September 2025 dengan harga Rp2.880 per saham kini menunjukkan potensi kenaikan hingga Rp5.400 berdasarkan target analis.

Proyek Pani dijadwalkan mulai produksi emas pertama pada kuartal I-2026 menggunakan heap-leach berkapasitas 7 juta ton/tahun. Target output awal 75.000–85.000 ons troi emas di 2026, berpotensi naik hingga 130.000–145.000 ons dengan utilisasi 90%.

Proyeksi Keuangan

Investasi Emas Kinclong: Prospek Saham Merdeka Gold Resources di 2026

(Foto Saham MDKA dari Google Finansial)

Pendapatan segmen emas MDKA diproyeksi tembus USD533 juta di 2026, naik tajam dari USD261 juta tahun sebelumnya, dengan cash cost rendah USD950/oz. EMAS sendiri estimasi revenue USD301 juta di 2026F (dari USD2 juta di 2025F) dan tumbuh 25% ke USD375 juta di 2027F.

Harga saham EMAS dibuka menguat di Rp4.010–4.750 pasca-IPO, dengan proyeksi analis maksimal Rp5.417 dan minimal Rp5.262. Prospek didukung harga emas global tinggi (estimasi US$4.200–4.600/oz) dan kontribusi signifikan ke MDKA.

Risiko & Peluang

Risiko utama termasuk fluktuasi harga emas dan ramp-up produksi, tapi peluang besar dari ekspansi hingga 500.000 ons di 2033F. Cocok untuk investor emas jangka menengah di tengah tren investasi komoditas Indonesia.

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