Stock News Buzz: Hallador Energy Company (NASDAQ:HNRG)

On Monday Hallador Energy Company (NASDAQ:HNRG) stock recorded daily change of -2.08% to close at $3.29 with the total traded volume of 83833 shares along average volume of 65755 shares 52 week range of the stock remained $ 3.21 – 6.5 while its day low price was $3.26 and its hit its day high price at $3.41. Its previous closing value stands at $3.36. HNRG total market capitalization is $99519208. Currently stocks EPS is $0.25 while its price to earnings ratio is 13.31

On Nov. 4, 2019, Hallador Energy Company (NASDAQ:HNRG) reports financial and operating results for the quarter ended September 30, 2019. Hallador filed its Form 10-Q after the markets closed.

Brent Bilsland, President and Chief Executive Officer, commented, I am pleased that we are still on pace for record shipments for the year and that we experienced record production in October ending the higher cost issues that plagued us in the third quarter.  We are entering our sales season in a position of strength with 75% sold for the next 3 years.

  • STRONG SHIPMENTS IN Q3
    • 1 million tons of coal were shipped in the 3rd quarter and we anticipate shipping 2.0 million tons in Q4. Thus, Sunrise Coal is on pace to ship a record 8 million tons in 2019.
  • Q3 2019 NET LOSS OF $3.7 MILLION, ($0.12) PER SHARE, CAUSED BY INCREASED COSTS DUE TO THREE TEMPORARY EVENTS

– First, Oaktown 2 experienced challenging mining conditions during the quarter, but was able to overcome and improve production by early October.

– Second, Carlisle has been working hard to reduce its cost structure since re-opening in July 2018. In October, units were relocated, and both production and recovery have improved dramatically. The Carlisle Mine experienced record production, up 40%, in the month of October.

– Lastly, at our Ace in the Hole Mine, a planned new box cut development in a new mining area led to low production in the quarter.

The confluence of these three temporary events increased our costs $3.86/ton during the quarter.  We believe these events to be isolated to the 3rd quarter as we experienced record production in the month of October, thus we anticipate our cost structure returning to our historical sub $30/ton cost structure.

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