Professional
Added to YB: 2023-03-01
Pitch date: 2023-03-01
NRP [bullish]
Natural Resource Partners L.P.
+108.59%
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
$1.4B
Pitch Price
$50.04
Price Target
74.11 (-29%)
Dividend
2.89%
EV/EBITDA
8.24
P/E
9.49
EV/Sales
6.47
Sector
Oil, Gas and Consumable Fuels
Category
value
Natural Resource Partners: Royalties With Protected Downside
NRP: Undervalued by 30%+. Owns mineral rights to 13M acres. 80% of coal royalties from resilient met coal. Soda ash stake valued at $500M pays $60M/yr. Sequestration worth $60-500M. Reducing debt is key. $900M value ($74.11/unit) after $400M debt. Upside: durable met coal demand & sequestration.
Read full article (6 min)