As previously reported, B. Riley analyst Lucas Pipes downgraded Hallador Energy (HNRG) to Neutral from Buy with an unchanged price target of $9, downgraded Stronghold Digital Mining (SDIG) to Neutral from Buy with a price target of $1, down from $2, and downgraded Teck Resources (TECK) to Neutral from Buy with a price target of C$56, up from C$48, after having updated his met coal price deck. For Hallador and Stronghold he cites increased domestic competition from weaker natural gas and for Teck he cites valuation, telling investors that he prefers equities in the space with strong capital return policies such as Arch Resources (ARCH) and Alpha Metallurgical (AMR), both of which he maintains at Buy.
Published first on TheFly
