Hallador Energy Co (HNRG)

Hallador Energy Co. experienced a significant stock price increase, rising from $11.45 on January 6, 2025, to $19.36 on January 2, 2026. Hallador reported an EPS of $0.190 USD in Q2 2025, with a 9.7% increase in Total Sales and Operating Revenue. In Q3 2025, the company reported an EPS of $0.550 USD, with a 40% surge in total revenue. Hallador announced the finalization of its application into the Expedited Resource Addition Study (ERAS) program on December 16, 2025. On January 13, 2026, Hallador Energy announced a proposed underwritten public offering of $50 million of common stock. Barbara Sugg was appointed to the Board of Directors on January 6, 2026.

Demand for Hallador Energy Co.'s products and services exhibits seasonality, primarily influenced by weather patterns and broader energy market dynamics. Favorable summer weather and increased energy demand contribute to strong revenue for Hallador Power. The company has noted "seasonal spring softness in the energy market". Hallador Energy is observing accelerating demand for accredited capacity, particularly from sectors like data center developers and load-serving entities seeking dispatchable energy.

Hallador Energy Co. is a publicly traded independent producer of thermal coal, primarily serving the power generation sector, and is strategically evolving into a vertically integrated independent power producer. The company operates in two segments: Coal Operations, managed by Sunrise Coal, LLC, which includes active underground and surface mines, and Electric Operations, managed by Hallador Power Company, LLC, encompassing the Merom Power Plant. Hallador Energy also holds equity interests in oil and gas exploration companies.

Hallador Energy's operations are concentrated within the United States, primarily in Indiana, specifically within the Illinois Basin. Its mining complexes are located in Knox, Sullivan, Pike, Crawford, and Lawrence counties in Indiana and Illinois, and it supplies fuel to utilities and industrial customers across the nation. The Merom Power Plant is connected to the MISO grid, which serves approximately 45 million people across 15 states.

Hallador Energy Co. has generally maintained a positive brand reputation, particularly among analysts, while also facing scrutiny regarding its financial health. Hallador Energy has received a consensus rating of "Moderate Buy" from Wall Street analysts. The company scored higher than 66% of companies evaluated by MarketBeat, ranking 113th out of 256 stocks in the energy sector. Despite operational growth, Hallador Energy's financial metrics present a mixed picture, with profitability challenges and potential liquidity constraints.

Hallador Energy Co. has a significant institutional presence among its shareholders, with 325 institutional owners holding between 64.28% and 66% of the company's ownership. Major institutional shareholders include Vanguard Group Inc, BlackRock, Inc., and Aegis Financial Corp. Insiders collectively own approximately US$53 million worth of the company, with CEO Brent Bilsland holding 3.6% of the company's shares. Lubar & Co., Inc. is identified as the largest single shareholder with 12% ownership.