Natural Resource Partners L.P.
$105.99
-2.9%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. Its coal reserves are primarily located in Appalachia, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties are located in the United States; oil and gas properties located in Louisiana; timber assets located in West Virginia; and trona ore mining operation and soda ash refinery are located in the Green River Basin, Wyoming. The company leases a portion of its reserves in exchange for royalty payments; and owns and leases 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 incorporated in 2002 and is headquartered in Houston, Texas.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is compressed (P/E 10.4).
Valuation inputs: P/E 10.4, earnings yield +9.6%, momentum -2.9%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is strong (ROE +21.5%, ROIC +19.1%).
Profitability stack: net margin +66.0%, ROE +21.5%, ROIC +19.1%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile looks controlled across current risk inputs.
Risk factors: liabilities/assets +15.5%, momentum -2.9%, net margin +66.0%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Natural Resource Partners L.P. Market vs Earnings Trajectory
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Natural Resource Partners L.P. Fair Value Envelope
Natural Resource Partners L.P. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Natural Resource Partners L.P. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
Natural Resource Partners L.P. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Financial Health Insight
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
Natural Resource Partners L.P. Street Expectations Map
No Target Data
No analyst price targets available for nrp.
Natural Resource Partners L.P. Insider Positioning
During the last 12 months, insiders have purchased $34K and sold $863K worth of NRP shares, resulting in $828K of net selling activity.
3 Months
336
34.33K
0
0.00
+34K
+$34K
3-6 Months
0
0.00
0
0.00
+0
+$0
6-9 Months
0
0.00
8.6K
862.74K
-863K
-$863K
9-12 Months
0
0.00
0
0.00
+0
+$0
Top Buyers
Craig Kevin J
Officer: Executive Vice President
$34K
Top Sellers
Wooten Gregory F
Officer: Senior Vp, Chief Engineer
$863K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $828K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.
Insider Participation
1 insider buyers and 1 sellers. Equal participation suggests mixed or neutral insider views.
nrp Dividend History
Learning Layer
Related Guides
Build conviction on NRP by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.