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Noble Financial Believes Alliance Resource (ARLP) Won’t Stop Here

Noble Financial analyst Mark Reichman maintained a Buy rating on Alliance Resource (ARLPResearch Report) today and set a price target of $30.00. The company’s shares closed last Tuesday at $22.65, close to its 52-week high of $23.36.

According to TipRanks.com, Reichman has 0 stars on 0-5 stars ranking scale with an average return of -6.2% and a 32.3% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Comstock Mining, and Defense Metals.

Currently, the analyst consensus on Alliance Resource is a Moderate Buy with an average price target of $30.00.

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The company has a one-year high of $23.36 and a one-year low of $7.42. Currently, Alliance Resource has an average volume of 595.7K.

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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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