Will Hallador Energy Company (HNRG) Continue the Growth?
Investment management company Cove Street Capital recently released its “Small Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 7.82% compared to 6.23% for the Russell 2000 Index and 8.42% for the Russell 2000 Value Index. In 2022, the fund returned -10.34% compared to -20.44% decline for the Russell 2000 Index and -14.48% decline for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Cove Street Capital highlighted stocks like Hallador Energy Company (NASDAQ:HNRG) in its Q4 2022 investor letter. Headquartered in Terre Haute, Indiana, Hallador Energy Company (NASDAQ:HNRG) is a steam coal producer. On January 11, 2023, Hallador Energy Company (NASDAQ:HNRG) stock closed at $9.78 per share. One-month return of Hallador Energy Company (NASDAQ:HNRG) was 3.71%, and its shares gained 258.24% of their value over the last 52 weeks. Hallador Energy Company (NASDAQ:HNRG) has a market capitalization of $322.57 million.
Cove Street Capital made the following comment about Hallador Energy Company (NASDAQ:HNRG) in its Q4 2022 investor letter:
“On the positive end of the spectrum, Hallador Energy Company (NASDAQ:HNRG) continues to be one of our biggest winners, as people belatedly realize just how long the tail is for coal usage in the world, despite any wishes or well-meaning attempts to have it go away. HNRG has enormous operating leverage that we think is going to be “higher and longer” and retain our position after a modest trim in position size after a 4x increase from our initial purchase price."
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Hallador Energy Company (NASDAQ:HNRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Hallador Energy Company (NASDAQ:HNRG) at the end of the third quarter, which was 5 in the previous quarter.
We discussed Hallador Energy Company (NASDAQ:HNRG) in another article and shared the list of best multibagger stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
