HNRG
EnergyHallador Energy Company · Coal · $850M
What is Hallador Energy Company?
Hallador Energy Company is an Indiana-based coal producer focused on supplying steam coal to electric power generators. Operating underground mines in the state, the company has built its business around domestic energy demand.
Hallador Energy generates revenue by mining and selling steam coal, primarily to utilities and power plants that burn coal for electricity generation. The company operates two Oaktown underground mines and the Ace in the Hole mine, all located in Indiana. Alongside coal production, Hallador also conducts gas exploration activities within the state, providing a secondary avenue for energy resource development.
Hallador Energy was founded in 1994 and is headquartered in Terre Haute, Indiana.
- Steam coal production for electric power generation
- Underground mining operations in Indiana
- Natural gas exploration activities
- Domestic energy supply to utility customers
Is HNRG a Good Stock to Buy?
UQS Score rates HNRG as Good overall, reflecting a balanced profile across the five quality pillars.
Hallador's Quality and Growth pillars both register as Good, suggesting the business is generating returns and showing forward momentum relative to its size. Valuation also lands in Good territory, meaning the stock does not appear obviously expensive relative to its fundamentals.
The Moat pillar is rated Weak, which points to limited competitive differentiation in a commodity-driven industry where pricing power is largely determined by market forces.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does HNRG pay dividends?
No — Hallador Energy Company does not currently pay a dividend.
Hallador Energy does not currently pay a dividend. For a small-cap coal producer, retaining capital to fund mine operations, maintenance, and potential growth initiatives is a common approach. Investors seeking income should be aware that HNRG is not structured as a yield-generating holding at this time.
When does HNRG report earnings?
Hallador Energy reports earnings on a quarterly cadence, consistent with standard US-listed equity practice.
Quarterly results for coal producers like Hallador tend to reflect shifts in utility demand, coal pricing, and operational output from their mine portfolio. Investors should monitor how production volumes and cost management trends evolve across reporting periods.
For the most recent quarter's results, visit Hallador Energy's investor relations page directly.
HNRG Price History
+554.5% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Hallador Energy Company?
Based on Hallador Energy Company's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
HNRG Long-term Outlook
Hallador's Good Growth pillar suggests the company has demonstrated forward momentum, though the Weak Moat rating introduces uncertainty about how durable that trajectory is. The Neutral Risk pillar indicates a balanced risk profile — neither particularly defensive nor highly speculative. In a sector subject to energy transition pressures, sustaining growth depends heavily on near-term utility coal demand and operational execution.
Growth drivers
- Continued domestic utility demand for steam coal in the near term
- Operational efficiency improvements across Indiana mine assets
- Gas exploration activities as a secondary revenue opportunity
Key risks
- Long-term structural decline in coal demand from the energy transition
- Commodity price volatility reducing revenue predictability
- Limited competitive moat in a price-driven commodity market
HNRG vs Peers
Hallador Energy operates in a narrow segment of the US coal market alongside several focused peers.
Ramaco focuses on metallurgical coal rather than steam coal, targeting steel production markets rather than electric utilities.
The Class B share structure of Ramaco offers a different capital access point to the same metallurgical coal business model.
SunCoke processes coal into coke for steel manufacturing, operating further along the value chain than a raw coal miner like Hallador.
Frequently Asked Questions
What does Hallador Energy do?
Hallador Energy mines and sells steam coal from underground operations in Indiana, supplying electric power generators and utilities. The company also conducts gas exploration activities in the state, though coal production remains its primary business.
Does HNRG pay dividends?
No, Hallador Energy does not currently pay a dividend. The company retains capital for operational and mine-related needs rather than distributing cash to shareholders. Investors focused on income may want to factor this into their assessment.
When does HNRG report earnings?
Hallador Energy follows a standard quarterly earnings reporting schedule. Specific dates are not covered by our data source, so investors should check the company's investor relations page or financial news services for upcoming release dates.
Is HNRG a good stock to buy?
UQS Score rates HNRG as Good overall, with Good marks across Quality, Growth, and Valuation pillars. However, a Weak Moat rating reflects the commodity nature of coal mining. Whether it fits your portfolio depends on your risk tolerance and sector outlook. The full pillar breakdown is available to Pro members.
Is HNRG overvalued?
The Valuation pillar for HNRG is rated Good, suggesting the stock is not trading at a significant premium relative to its fundamentals. That said, commodity stocks can reprice quickly with shifts in coal demand or pricing. View the complete valuation metrics with a UQS Pro account.
How does HNRG compare to its competitors?
Hallador focuses on steam coal for power generation, while peers like Ramaco Resources target metallurgical coal for steel markets and SunCoke Energy operates in coke processing. These differences in end markets and business models make direct comparisons nuanced. UQS Pro members can view side-by-side pillar scores.
What is HNRG's market cap bracket?
Hallador Energy is classified as a small-cap company. This means it carries characteristics typical of smaller publicly traded firms, including potentially lower trading liquidity and greater sensitivity to sector-specific developments compared to large-cap energy companies.
Who founded Hallador Energy?
Hallador Energy Company was founded in 1994. For detailed founding history and leadership background, the company's official website and public filings provide the most accurate and complete information.
Is HNRG a long-term buy?
As a long-term quality indicator, HNRG's Good UQS Score reflects reasonable fundamentals today, but the Weak Moat pillar raises questions about competitive durability over time. The energy transition adds structural uncertainty for coal-focused businesses. Long-term investors should weigh these factors carefully alongside the full UQS analysis.
What is the main competitive advantage of Hallador Energy?
Hallador's primary advantage lies in its established underground mining infrastructure and long-standing relationships with Indiana-based utility customers. However, the UQS Moat pillar rates this as Weak, reflecting the limited pricing power inherent in commodity coal markets.
What sector does HNRG belong to?
Hallador Energy operates in the Energy sector, specifically within the coal mining and production segment. It supplies steam coal to electric power generators, placing it at the intersection of traditional energy production and utility infrastructure.
Is HNRG a growth stock or value stock?
Based on UQS pillar labels, HNRG shows Good Growth and Good Valuation characteristics, suggesting it carries elements of both profiles. It is not a high-multiple growth name, but its growth rating indicates forward momentum relative to its current valuation level.
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Pro Analysis
HNRG — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 42.4 | 39.3 | 16.0 | 57.2 | 63.3 | 51.0 | +0.5 |
| May 11, 2026 | 41.9 | 39.2 | 16.0 | 57.2 | 63.3 | 47.8 | -2.0 |
| May 7, 2026 | 43.9 | 56.4 | 16.0 | 53.5 | 56.4 | 44.3 | -0.9 |
| May 3, 2026 | 44.8 | 56.4 | 16.0 | 53.5 | 56.4 | 50.3 | +0.1 |
| May 1, 2026 | 44.7 | 56.4 | 16.0 | 53.5 | 56.4 | 49.6 | -3.3 |
| Apr 26, 2026 | 48.0 | 56.4 | 16.0 | 61.3 | 56.4 | 61.2 | -0.1 |
| Apr 25, 2026 | 48.1 | 56.4 | 16.0 | 61.3 | 56.4 | 61.6 | 0.0 |
| Apr 22, 2026 | 48.1 | 56.4 | 16.0 | 61.3 | 56.4 | 61.5 | -4.6 |
| Apr 21, 2026 | 52.7 | 66.4 | 16.0 | 72.1 | 56.4 | 61.5 | 0.0 |
| Apr 19, 2026 | 52.7 | 66.4 | 16.0 | 72.1 | 56.4 | 61.3 | -0.1 |
HNRG — Pillar Breakdown
Quality
— 39.3/100 (25%)Hallador Energy Company has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 57.2/100 (20%)Hallador Energy Company demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 63.3/100 (15%)Hallador Energy Company maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 50.5/100 (15%)Hallador Energy Company has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 16/100 (25%)Hallador Energy Company operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for HNRG.
Score Composition
Financial Data
More Stock Analysis
How is the HNRG UQS Score Calculated?
The UQS (Unified Quality Score) for Hallador Energy Company is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Hallador Energy Company's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Hallador Energy Company is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.