Why These Energy Stocks are Gaining This Week

3. Hallador Energy Company (NASDAQ:HNRG

Share Price Gains Between Dec. 5 and Dec. 12: 11.78%

Hallador Energy Company (NASDAQ:HNRG), through its subsidiaries, engages in the production of steam coal for the electric power generation industry in Indiana. The company has now evolved into a growing, vertically integrated Independent Power Producer (IPP) focused on meeting rising energy demands.

Hallador Energy Company (NASDAQ:HNRG) received a lift on December 3 after Northland Securities reiterated its ‘Buy’ rating on the stock, while assigning it a price target of $29, indicating an upside potential of 30% from its current share price.

Moreover, the sharp rise in natural gas prices has been a boon for American coal producers like Hallador Energy Company (NASDAQ:HNRG), as several power suppliers are likely to increase output from cheaper coal-fired plants rather than pay for expensive natural gas. Additionally, President Trump’s strong support has put the declining sector back on the map, and several coal producers are now planning to expand capacity.