Noble Financial analyst Mark Reichman maintained a Buy rating on Alliance Resource (ARLP – Research Report) today and set a price target of $32.00. The company’s shares closed yesterday at $19.74.
Reichman covers the Basic Materials sector, focusing on stocks such as Defense Metals, Comstock Mining, and Alliance Resource. According to TipRanks, Reichman has an average return of -13.2% and a 28.22% success rate on recommended stocks.
Alliance Resource has an analyst consensus of Moderate Buy, with a price target consensus of $30.00.
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The company has a one-year high of $26.20 and a one-year low of $13.31. Currently, Alliance Resource has an average volume of 532.3K.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARLP in relation to earlier this year.
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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.
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