Alliance Global Partners Starts Coverage on Tamboran Resources with Buy Rating

Alliance Global Partners has officially initiated coverage on Tamboran Resources (NYSE:TBN – Free Report), as reported in a recent research note. The firm has given Tamboran a buy rating and set a price target of $32.00 per share.

In addition to Alliance Global Partners' report, several other equity research analysts have also provided their insights on Tamboran Resources. Piper Sandler reaffirmed an "overweight" rating with a price target of $41.00 in their report released on December 23rd. Similarly, Royal Bank of Canada reclassified the stock with a "sector perform" rating and set a price objective of $31.00 on January 9th. Currently, one analyst has assigned a hold rating to Tamboran, while four analysts are recommending a buy. MarketBeat.com indicates that the stock holds an average rating of "Moderate Buy" with an average price target of $36.60.

Tamboran Resources Stock Performance

As of Tuesday, Tamboran Resources (NYSE:TBN) opened at $21.38. Over the past year, the stock has experienced a low of $15.75 and a high of $25.99. The company maintains a low debt-to-equity ratio of 0.03, with a quick ratio and current ratio both standing at 2.59. The stock's 50-day simple moving average is currently at $18.80.

Tamboran Resources published its quarterly earnings on November 12th, showing a loss of $0.42 earnings per share. This result was below the consensus estimate, which predicted a loss of $0.30 by $0.12. Analysts forecast that the company will report an EPS of -1.51 for the current year.

Institutional Investor Actions

Multiple hedge funds have recently adjusted their investment positions in Tamboran Resources. Notably, Baupost Group LLC MA acquired a new stake valued at approximately $11.6 million during the third quarter. HITE Hedge Asset Management LLC, Encompass Capital Advisors LLC, The Manufacturers Life Insurance Company, and Ingalls & Snyder LLC have all made new investments ranging from about $1.29 million to $6.75 million in Tamboran during recent quarters.

About Tamboran Resources

Tamboran Resources Corporation is a natural gas company that concentrates on the exploration and development of unconventional gas resources in Australia’s northern territory. The company owns several working interests in various exploration permits in the Beetaloo Basin, including a 25% non-operated working interest in EP 161 and 100% working interests in EPs 136, 143, and EP (A) 197.

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