NYSE:NRP

Stock Analysis Report

Natural Resource Partners

Executive Summary

Natural Resource Partners L.P., through its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Natural Resource Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NRP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

4.6%

NRP

0.09%

US Oil and Gas

0.06%

US Market


1 Year Return

-57.1%

NRP

-17.6%

US Oil and Gas

19.3%

US Market

Return vs Industry: NRP underperformed the US Oil and Gas industry which returned -17.6% over the past year.

Return vs Market: NRP underperformed the US Market which returned 19.3% over the past year.


Shareholder returns

NRPIndustryMarket
7 Day4.6%0.09%0.06%
30 Day-15.9%-6.5%1.7%
90 Day-18.2%-6.3%9.0%
1 Year-53.2%-57.1%-14.4%-17.6%21.8%19.3%
3 Year-47.8%-57.4%-11.4%-19.8%49.5%39.9%
5 Year-67.0%-77.7%-20.5%-32.2%73.1%54.1%

Price Volatility Vs. Market

How volatile is Natural Resource Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Natural Resource Partners undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NRP ($17.65) is trading below our estimate of fair value ($221.25)

Significantly Below Fair Value: NRP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: NRP is good value based on its PE Ratio (2.2x) compared to the Oil and Gas industry average (10.2x).

PE vs Market: NRP is good value based on its PE Ratio (2.2x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NRP's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: NRP is good value based on its PB Ratio (0.5x) compared to the US Oil and Gas industry average (0.8x).

Future Growth

How is Natural Resource Partners forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

17.1%

Forecasted Energy industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Natural Resource Partners has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Natural Resource Partners performed over the past 5 years?

22.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NRP has high quality earnings.

Growing Profit Margin: NRP's current net profit margins (44.1%) are lower than last year (72.3%).


Past Earnings Growth Analysis

Earnings Trend: NRP's earnings have grown significantly by 22.6% per year over the past 5 years.

Accelerating Growth: NRP's earnings growth over the past year (23.1%) exceeds its 5-year average (22.6% per year).

Earnings vs Industry: NRP earnings growth over the past year (23.1%) exceeded the Oil and Gas industry -13.3%.


Return on Equity

High ROE: NRP's Return on Equity (20.5%) is considered high.


Return on Assets


Return on Capital Employed

Financial Health

How is Natural Resource Partners's financial position?


Financial Position Analysis

Short Term Liabilities: NRP's short term assets ($143.7M) exceed its short term liabilities ($74.3M).

Long Term Liabilities: NRP's short term assets ($143.7M) do not cover its long term liabilities ($538.8M).


Debt to Equity History and Analysis

Debt Level: NRP's debt to equity ratio (85%) is considered high.

Reducing Debt: NRP's debt to equity ratio has reduced from 176.8% to 85% over the past 5 years.

Debt Coverage: NRP's debt is well covered by operating cash flow (37.2%).

Interest Coverage: NRP's interest payments on its debt are not well covered by EBIT (2.4x coverage).


Balance Sheet

Inventory Level: NRP has a high level of physical assets or inventory.

Debt Coverage by Assets: NRP's debt is not covered by short term assets (assets are 0.3x debt).

Dividend

What is Natural Resource Partners's current dividend yield, its reliability and sustainability?

10.20%

Current Dividend Yield


Dividend Yield vs Market

company10.2%marketbottom25%1.4%markettop25%3.7%industryaverage4.5%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: NRP's dividend (10.2%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: NRP's dividend (10.2%) is in the top 25% of dividend payers in the US market (3.71%)


Stability and Growth of Payments

Stable Dividend: NRP's dividend payments have been volatile in the past 10 years.

Growing Dividend: NRP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.8%), NRP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

5.4yrs

Average management tenure


CEO

Corby Robertson (72yo)

17.3yrs

Tenure

US$1,627,083

Compensation

Mr. Corbin J. Robertson, Jr., also known as Corby, serves a Managing Partner and Principal of Quintana Capital Group, L.P. Mr. Robertson has been the Chief Executive Officer and Chairman of GP Natural Reso ...


Leadership Team

NamePositionTenureCompensationOwnership
Corbin Robertson
Chairman & CEO of GP Natural Resource Partners LLC17.3yrsUS$1.63m5.48% $11.9m
Craig Nunez
President & COO of GP Natural Resource Partners LLC2.5yrsUS$1.28mno data
Christopher Zolas
CFO & Treasurer of GP Natural Resource Partners LLC2.5yrsUS$977.45kno data
Kathryn Wilson
VP, General Counsel & Secretary of GP Natural Resource Partners LLC6.2yrsUS$973.05kno data
Kevin Craig
Executive Vice President of Coal - GP Natural Resource Partners LLC5.4yrsUS$715.03k0.0077% $16.8k
Gregory Wooten
VP & Chief Engineer of GP Natural Resource Partners LLC6.2yrsno datano data
Tiffany Sammis
IR Executive0yrsno datano data
Nick Carter
Consultant of GP Natural Resource Partners LLC5.4yrsUS$93.69kno data

5.4yrs

Average Tenure

58yo

Average Age

Experienced Management: NRP's management team is seasoned and experienced (5.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Corbin Robertson
Chairman & CEO of GP Natural Resource Partners LLC17.3yrsUS$1.63m5.48% $11.9m
Paul Murphy
Director of GP Natural Resource Partners LLC1.9yrsUS$127.70k0.062% $134.4k
Richard Navarre
Director of GP Natural Resource Partners LLC6.3yrsUS$164.81k0.0082% $17.7k
Russell Gordy
Director of GP Natural Resource Partners LLC6.3yrsUS$151.06k0.052% $112.2k
Stephen Smith
Director of GP Natural Resource Partners LLC15.9yrsUS$164.81k0.0029% $6.3k
S. Morian
Director of GP Natural Resource Partners LLC17.3yrsUS$144.81k0.036% $76.9k
Leo Vecellio
Presiding Director of GP Natural Resource Partners LLC0yrsUS$164.81k0.052% $112.2k
Alexander Greene
Director0.9yrsno datano data
Corbin Robertson
Director of GP Natural Resource Partners LLC6.8yrsUS$144.81k1.36% $3.0m
Galdino Claro
Directors of GP Natural Resource Partners LLC1.9yrsUS$136.04k0.034% $72.6k

6.3yrs

Average Tenure

60yo

Average Age

Experienced Board: NRP's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Natural Resource Partners L.P.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Natural Resource Partners L.P.
  • Ticker: NRP
  • Exchange: NYSE
  • Founded: 2002
  • Industry: Coal and Consumable Fuels
  • Sector: Energy
  • Market Cap: US$216.442m
  • Shares outstanding: 12.26m
  • Website: https://www.nrplp.com

Number of Employees


Location

  • Natural Resource Partners L.P.
  • 1201 Louisiana Street
  • Suite 3400
  • Houston
  • Texas
  • 77002
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NRPNYSE (New York Stock Exchange)YesCommon UnitsUSUSDOct 2002
NRZ1DB (Deutsche Boerse AG)YesCommon UnitsDEEUROct 2002
0S32LSE (London Stock Exchange)YesCommon UnitsGBUSDOct 2002

Biography

Natural Resource Partners L.P., through its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. It operates through two segments, Coal Royalty and Other, and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources. Its coal reserves are primarily located in Appalachia, the Illinois Basin, and the Northern Powder River Basin in the United States; aggregates and industrial minerals are located in the United States; oil and gas royalty assets located in Louisiana; and trona ore mining operation and soda ash refinery located in the Green River Basin, Wyoming. The company leases a portion of its reserves in exchange for royalty payments; and owns transportation and processing infrastructure related to coal properties. NRP (GP) LP serves as the general partner of the company. Natural Resource Partners L.P. was founded in 2002 and is headquartered in Houston, Texas. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/21 00:04
End of Day Share Price2020/02/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.