Professional
Added to YB: 2024-09-12
Pitch date: 2024-09-12
NRP [bullish]
Natural Resource Partners L.P.
+47.09%
current return
Author Info
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Company Info
Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States.
Market Cap
$1.6B
Pitch Price
$83.77
Price Target
N/A
Dividend
2.39%
EV/EBITDA
9.91
P/E
11.48
EV/Sales
7.77
Sector
Oil, Gas and Consumable Fuels
Category
value
Show full summary:
Natural Resource Partners ($NRP)
NRP: Coal royalty biz w/ 6x FCF multiple. 2019 EBITDA $199M despite lower volume/royalty. Est. 2025 FCF $180M ($13.6/unit). Crisis 2020 FCF yield ~9%. Robust FCF across environments. Deleveraging complete next year. CEO aligned. Carbon sequestration upside. New ARLP thermal coal lease Q1 2025 (~7.5M tons/yr).