Peabody Energy Stock: Why One Fund Trimmed 3 Million Shares After a Big Run

Company Overview - Peabody Energy Corporation is a leading coal producer with a diversified portfolio of mining operations and a significant reserve base, supplying both thermal and metallurgical coal to a global customer base [6][9] - The company reported a revenue of $4 billion and a net income loss of $32.7 million for the trailing twelve months (TTM) [4][10] - As of the latest report, Peabody Energy's shares were priced at $29.16, reflecting a 27% increase over the past year, outperforming the S&P 500, which rose by 12% in the same period [3][4] Recent Developments - Progeny 3 disclosed a reduction of 3 million shares in Peabody Energy, trimming its stake by an estimated $28.5 million as of September 30, with the remaining shares valued at $24.1 million [1][2] - The stake now accounts for 1.2% of Progeny 3's total reportable U.S. equity holdings, which amount to $1.9 billion [2] Financial Performance - Peabody Energy's adjusted EBITDA for the quarter was reported at $99.5 million, supported by an increase in revenues compared to the previous quarter [10] - The company ended the quarter with $603 million in cash and over $950 million in total liquidity, indicating balance-sheet resilience despite market challenges [10] Market Position - Peabody Energy operates through mining, preparation, and sale of coal, generating income from both direct coal sales and brokered contracts, serving electricity generators, industrial facilities, and steel manufacturers in the U.S. and international markets [9] - The company's operations span the United States and Australia, focusing on coal sales to utilities and industrial customers [9]