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NRP

Natural Resource Partners NYSE:NRP Stock Report

Last Price

US$49.52

Market Cap

US$619.2m

7D

2.6%

1Y

170.6%

Updated

24 May, 2022

Data

Company Financials
NRP fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance4/6
Financial Health4/6
Dividends4/6

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

Summary of all time highs, changes and price drops for Natural Resource Partners
Historical stock prices
Current Share PriceUS$49.52
52 Week HighUS$50.82
52 Week LowUS$17.70
Beta0.45
1 Month Change11.17%
3 Month Change37.51%
1 Year Change170.58%
3 Year Change24.10%
5 Year Change68.71%
Change since IPO-48.95%

Recent News & Updates

May 20

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.

Apr 09

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

NRPUS Oil and GasUS Market
7D2.6%0.2%-4.0%
1Y170.6%58.6%-13.2%

Return vs Industry: NRP exceeded the US Oil and Gas industry which returned 54.9% over the past year.

Return vs Market: NRP exceeded the US Market which returned -12.3% over the past year.

Price Volatility

Is NRP's price volatile compared to industry and market?
NRP volatility
NRP Average Weekly Movement5.7%
Oil and Gas Industry Average Movement8.4%
Market Average Movement7.8%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market2.9%

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

FoundedEmployeesCEOWebsite
2002n/aCorby Robertsonhttps://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

How do Natural Resource Partners's earnings and revenue compare to its market cap?
NRP fundamental statistics
Market CapUS$619.25m
Earnings (TTM)US$130.38m
Revenue (TTM)US$234.01m

4.7x

P/E Ratio

2.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NRP income statement (TTM)
RevenueUS$234.01m
Cost of RevenueUS$29.57m
Gross ProfitUS$204.44m
Other ExpensesUS$74.06m
EarningsUS$130.38m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)10.43
Gross Margin87.36%
Net Profit Margin55.71%
Debt/Equity Ratio88.4%

How did NRP perform over the long term?

See historical performance and comparison

Dividends

6.1%

Current Dividend Yield

20%

Payout Ratio

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 ($49.52) is trading below our estimate of fair value ($173.47)

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 (13.6x).

PE vs Market: NRP is good value based on its Price-To-Earnings Ratio (4.7x) compared to the US market (15.1x).


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's Price-To-Book Ratio (2x) is in line with the US Oil and Gas industry average.


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

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-5.3%

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

4/6

Past 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

4/6

Financial 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

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


6.06%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NRP's dividend (6.06%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: NRP's dividend (6.06%) is in the top 25% of dividend payers in the US market (4.05%)


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$619.248m
  • 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/24 00:00
End of Day Share Price2022/05/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.