Benchmark Co. analyst Nathan Martin reiterated a Buy rating on Alliance Resource (ARLP – Research Report) today and set a price target of $28.00. The company’s shares opened today at $22.99.
According to TipRanks, Martin is a 5-star analyst with an average return of 50.1% and a 67.74% success rate. Martin covers the Basic Materials sector, focusing on stocks such as Alliance Resource, Teck Resources, and Ramaco Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alliance Resource with a $28.67 average price target, representing a 24.71% upside. In a report released yesterday, Noble Financial also maintained a Buy rating on the stock with a $30.00 price target.
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The company has a one-year high of $27.05 and a one-year low of $11.90. Currently, Alliance Resource has an average volume of 473.3K.
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Alliance Resource Partners LP produces and markets coal to United States utilities and industrial users. It operates through the following segments: Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment is comprised of Webster County coal’s Dotiki mining complex, Gibson mining complex, which includes the Gibson north mine and the Gibson south project, Hopkins County coal’s Elk Creek mining complex, White County coal’s Pattiki mining complex, Warrior’s mining complex, River View’s mining complex, the Sebree property and certain properties of Alliance Resource Properties and ARP Sebree LLC. The Appalachian segment is composed of Pontiki and MC Mining complexes. The Other and Corporate segment includes marketing and administrative expenses, Mt. Vernon dock activities, coal brokerage activity, its equity investment in Mid-America Carbonates LLC and certain activities of Alliance Resource Properties. The company was founded in May 1999 and is headquartered in Tulsa, OK.
Read More on ARLP:
- Alliance Resource Partners says well positioned to achieve record year in 2023
- Alliance Resource Partners increases unit repurchase program to $100M
- Alliance Resource Partners reports Q4 EPS $1.63, consensus $1.42
- Alliance Resource Partners increases distribution 40% to 70c per unit
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