Friday, October 09, 2026
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Coal fundamentals support a constructive outlook. Alliance Resource Partners is the second-largest coal producer in the eastern United States and benefits from a competitive cost structure and strong earnings visibility based on contracted sales. More than 99% of expected 2026 coal volumes are committed and priced, while approximately 85% of anticipated 2027 volumes are contracted. Growing electricity demand and a more supportive regulatory environment could extend coal-fired power plant lives and strengthen demand for thermal coal.
Royalties strengthen the growth profile. Alliance continues to expand its high-margin oil and gas royalty business, supported by more than $1 billion invested in mineral interests. The recent $206.2 million AllDale acquisition expanded its portfolio to approximately 115,680 net royalty acres, including more than 44,770 acres in the Permian Basin. We expect royalties to contribute increasingly to earnings and cash flow without the capital requirements of operated properties.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.