| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 0/6 |
| Past Performance | 4/6 |
| Financial Health | 4/6 |
| Dividends | 4/6 |
NRP Stock Overview
Natural Resource Partners L.P., through its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States.
Natural Resource Partners Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$48.56 |
| 52 Week High | US$50.82 |
| 52 Week Low | US$17.70 |
| Beta | 0.45 |
| 1 Month Change | 2.60% |
| 3 Month Change | 32.39% |
| 1 Year Change | 164.78% |
| 3 Year Change | 22.13% |
| 5 Year Change | 70.39% |
| Change since IPO | -49.94% |
Recent News & Updates
Natural Resource Partners Is Poised To Perform Well In The New Era
The metals and mining sector has had a horrible decade and with it, Natural Resource Partners. Present conditions suggests that demand for minerals is set to increase and with that, the company is poised to grow and fatten profitability. In an era of de-globalization, the company’s assets will become more valuable. Natural Resource Partners’ free cash flows are trading at a yield of 25.49% and the stock is cheap by historical and relative measures.
Natural Resource Partners: Lifeline From Eastern Europe, Upside Remains Limited
Natural Resource Partners saw their distributions saved by the strong coal prices of late 2021. This also sent their cash flow performance surging higher, which if continued would see their best annual results in recent history since at least 2018. When looking ahead, their thermal coal production is heavily weighted towards the Illinois Basis and thus stands to benefit via exports to Europe following their ban on Russian imports. This would normally see prospects for distribution growth but sadly, an obscure term within their credit facility creates a problem since it would reduce their covenant leverage ratio limit. Since this limits their ability to reward unitholders, I only believe that upgrading to a hold rating from my previous sell rating is appropriate.
Shareholder Returns
| NRP | US Oil and Gas | US Market | |
|---|---|---|---|
| 7D | 2.3% | 8.3% | 5.9% |
| 1Y | 164.8% | 64.9% | -10.2% |
Return vs Industry: NRP exceeded the US Oil and Gas industry which returned 60.5% over the past year.
Return vs Market: NRP exceeded the US Market which returned -15.1% over the past year.
Price Volatility
| NRP volatility | |
|---|---|
| NRP Average Weekly Movement | 5.7% |
| Oil and Gas Industry Average Movement | 8.4% |
| Market Average Movement | 7.8% |
| 10% most volatile stocks in US Market | 16.9% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: NRP is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: NRP's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2002 | n/a | Corby Robertson | https://www.nrplp.com |
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, Mineral Rights and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources.
Natural Resource Partners Fundamentals Summary
| NRP fundamental statistics | |
|---|---|
| Market Cap | US$607.29m |
| Earnings (TTM) | US$130.38m |
| Revenue (TTM) | US$234.01m |
4.7x
P/E Ratio2.6x
P/S RatioIs NRP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NRP income statement (TTM) | |
|---|---|
| Revenue | US$234.01m |
| Cost of Revenue | US$29.57m |
| Gross Profit | US$204.44m |
| Other Expenses | US$74.06m |
| Earnings | US$130.38m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 10.43 |
| Gross Margin | 87.36% |
| Net Profit Margin | 55.71% |
| Debt/Equity Ratio | 88.4% |
How did NRP perform over the long term?
See historical performance and comparisonDividends
6.2%
Current Dividend Yield20%
Payout RatioValuation
Is Natural Resource Partners undervalued compared to its fair value and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NRP ($48.56) is trading below our estimate of fair value ($172.17)
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 Price-To-Earnings Ratio (4.7x) compared to the US Oil and Gas industry average (14x).
PE vs Market: NRP is good value based on its Price-To-Earnings Ratio (4.7x) compared to the US market (15.2x).
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 Price-To-Book Ratio (2x) compared to the US Oil and Gas industry average (2.1x).
Future Growth
How is Natural Resource Partners forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
-5.8%
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?
Past Performance Score
4/6Past Performance Score 4/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-24.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NRP has high quality earnings.
Growing Profit Margin: NRP became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: NRP has become profitable over the past 5 years, growing earnings by -24.6% per year.
Accelerating Growth: NRP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: NRP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (88.4%).
Return on Equity
High ROE: NRP's Return on Equity (34.8%) is considered high.
Financial Health
How is Natural Resource Partners's financial position?
Financial Health Score
4/6Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: NRP's short term assets ($171.8M) exceed its short term liabilities ($68.2M).
Long Term Liabilities: NRP's short term assets ($171.8M) do not cover its long term liabilities ($422.1M).
Debt to Equity History and Analysis
Debt Level: NRP's net debt to equity ratio (59.7%) is considered high.
Reducing Debt: NRP's debt to equity ratio has reduced from 305% to 88.4% over the past 5 years.
Debt Coverage: NRP's debt is well covered by operating cash flow (36.2%).
Interest Coverage: NRP's interest payments on its debt are well covered by EBIT (4.4x coverage).
Balance Sheet
Dividend
What is Natural Resource Partners's current dividend yield, its reliability and sustainability?
Dividend Score
3/6Dividend Score 3/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
6.18%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: NRP's dividend (6.18%) is higher than the bottom 25% of dividend payers in the US market (1.54%).
High Dividend: NRP's dividend (6.18%) is in the top 25% of dividend payers in the US market (4.01%)
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.
Earnings Payout to Shareholders
Earnings Coverage: With its low payout ratio (19.9%), NRP's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its low cash payout ratio (24.9%), NRP's dividend payments are well covered by cash flows.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
6.2yrs
Average management tenure
CEO
Corby Robertson (74 yo)
19.58yrs
Tenure
US$2,984,249
Compensation
Mr. Corbin J. Robertson, Jr., also known as Corby, has been Independent Director at KLX Energy Services Holdings, Inc. since July 28, 2020. Mr. Robertson serves a Managing Partner and Principal of Quintana...
Leadership Team
Experienced Management: NRP's management team is seasoned and experienced (6.2 years average tenure).
Board Members
Experienced Board: NRP's board of directors are considered experienced (9 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 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
- Implied Market Cap: US$607.291m
- Shares outstanding: 12.51m
- 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
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/05/27 00:00 |
| End of Day Share Price | 2022/05/27 00:00 |
| Earnings | 2022/03/31 |
| Annual Earnings | 2021/12/31 |
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.