Shares of Warrior Met Coal LLC (HCC) soared 7.22% in Thursday's trading session, buoyed by a price target increase and growing optimism in the coal industry. The stock's impressive gain comes amid a broader reassessment of coal's role in the global energy landscape.

BMO Capital raised its price target for Warrior Met Coal from $50 to $55, while maintaining a Market Perform rating. This upgrade reflects growing confidence in the company's prospects and the coal sector's resilience. Warrior Met Coal, a key player in metallurgical coal production, is benefiting from the industry's unexpected staying power.

The surge in Warrior Met Coal's stock price aligns with a broader narrative of coal's enduring relevance. Despite being one of the most criticized investments from an environmental perspective, coal demand is projected to remain strong through 2030, according to energy consulting firm Wood Mackenzie. Factors such as energy security concerns, affordability, and the complex transition to renewables are contributing to coal's sustained demand, particularly in rapidly growing economies like China and India.

As a top holding in the Range Global Coal Index ETF (COAL), Warrior Met Coal is positioned to capitalize on this trend. The company's focus on metallurgical coal, used in steel production, provides some insulation from the challenges facing thermal coal. With global infrastructure development continuing apace, the demand for steel - and by extension, metallurgical coal - remains robust.