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Natural Resource Partners LP (NRP)

Upturn stock ratingUpturn stock rating
$103.3
Last Close (24-hour delay)
Profit since last BUY1.86%
upturn advisory
Consider higher Upturn Star rating
BUY since 18 days
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Upturn Advisory Summary

08/14/2025: NRP (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

rating

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Number of Analysts

rating

0 Analysts rated it

Very few follow this stock; limited insights, higher-risk early investing.

Analysis of Past Performance

Type Stock
Historic Profit 70.3%
Avg. Invested days 63
Today’s Advisory Consider higher Upturn Star rating
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 5.0
Stock Returns Performance Upturn Returns Performance 4.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 08/14/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.24B USD
Price to earnings Ratio 8.99
1Y Target Price 96
Price to earnings Ratio 8.99
1Y Target Price 96
Volume (30-day avg) -
Beta 0.24
52 Weeks Range 78.98 - 110.00
Updated Date 06/29/2025
52 Weeks Range 78.98 - 110.00
Updated Date 06/29/2025
Dividends yield (FY) 3.18%
Basic EPS (TTM) 10.49

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin 71.71%
Operating Margin (TTM) 68.36%

Management Effectiveness

Return on Assets (TTM) 12.91%
Return on Equity (TTM) 30.6%

Valuation

Trailing PE 8.99
Forward PE 6.17
Enterprise Value 1346850547
Price to Sales(TTM) 5.39
Enterprise Value 1346850547
Price to Sales(TTM) 5.39
Enterprise Value to Revenue 5.86
Enterprise Value to EBITDA 6.83
Shares Outstanding 13138100
Shares Floating 9945145
Shares Outstanding 13138100
Shares Floating 9945145
Percent Insiders 18.57
Percent Institutions 32.2

ai summary icon Upturn AI SWOT

Natural Resource Partners LP

stock logo

Company Overview

overview logo History and Background

Natural Resource Partners LP (NRP) was founded in 2002, focusing on acquiring and managing coal and other natural resource assets. It has evolved from a coal-focused business to a diversified natural resource holdings company.

business area logo Core Business Areas

  • Coal: Owns and manages coal reserves, receiving royalty income from coal production. Focus has shifted away from direct coal operations.
  • Soda Ash: Owns and manages trona ore reserves used in soda ash production. A significant portion of revenue comes from this segment.
  • Construction Aggregates: Owns reserves of aggregates such as sand, gravel, and crushed stone, leased to operators for extraction and sale.
  • Oil and Gas: Receives royalty income from oil and gas production on owned land.
  • Timber: Owns timber reserves, leased to operators for timber extraction and sale.

leadership logo Leadership and Structure

Craig Nunez serves as the President and Chief Executive Officer. The company operates as a limited partnership with a General Partner managing operations.

Top Products and Market Share

overview logo Key Offerings

  • Coal Royalties: NRP receives royalty payments from coal mining operations on its land. Market share data is difficult to obtain due to the fragmented nature of the coal industry and varying royalty agreements. Competitors include other landowners and mineral rights holders (private and public) as well as coal mining companies that own their land.
  • Construction Aggregates: NRP earns revenue from aggregate mines on its land. Market share data is difficult to obtain due to the local nature of the business. Competitors include private landowners that lease aggregate reserves as well as aggregate companies that own their mines.
  • Soda Ash Royalties: NRP receives royalty payments from soda ash production on its trona ore reserves. Market share data is difficult to obtain, as royalty income is tied to production volumes of soda ash manufacturers. Major soda ash producers like Genesis Energy, L.P. are indirect competitors.
  • Oil & Gas Royalties: NRP collects royalties on oil and gas production on its land. No single company accounts for all production. Landowners as well as companies that own mineral rights are indirect competitors.

Market Dynamics

industry overview logo Industry Overview

The natural resources industry is cyclical and influenced by commodity prices, economic growth, and government regulations. The coal industry is facing headwinds due to environmental concerns, while soda ash benefits from demand in glass manufacturing and other industrial applications. Construction Aggregates are highly dependent on the housing market and government infrastructure spending.

Positioning

NRP positions itself as a passive owner of natural resource assets, generating revenue through royalty and lease payments. Its competitive advantage lies in its diversified portfolio of mineral and land holdings, and its lower operational risk profile (as it doesn't directly operate mines or wells).

Total Addressable Market (TAM)

It's challenging to define a specific TAM as NRP operates across various resource sectors. However, one can estimate a TAM for individual products such as soda ash, construction aggregates, coal and Oil and Gas based on market values.

Upturn SWOT Analysis

Strengths

  • Diversified asset base (coal, soda ash, construction aggregates, oil & gas, timber)
  • Royalty-based revenue model (reduced operational risk)
  • Experienced management team
  • Strong balance sheet following debt reduction efforts
  • Significant mineral reserve holdings

Weaknesses

  • Exposure to commodity price volatility
  • Dependence on operators' performance
  • Potential environmental liabilities
  • Regulatory risks affecting mining and energy industries
  • Limited control over production levels

Opportunities

  • Acquisitions of additional mineral rights and land holdings
  • Growth in soda ash demand (driven by glass manufacturing and lithium-ion batteries)
  • Increased infrastructure spending boosting construction aggregates demand
  • Development of renewable energy projects on owned land (e.g., solar, wind)
  • Strategic partnerships to enhance asset utilization

Threats

  • Decline in coal demand due to environmental regulations and renewable energy adoption
  • Commodity price downturns impacting royalty revenues
  • Increased competition from other mineral rights owners
  • Environmental regulations restricting mining and drilling activities
  • Economic recessions reducing demand for natural resources

Competitors and Market Share

competitor logo Key Competitors

  • GEL
  • CEIX
  • ARCH

Competitive Landscape

NRP's competitive advantage lies in its royalty-based model and diversified asset base. It faces competition from other mineral rights owners and operators in each of its business segments.

Major Acquisitions

VantaCore Partners LLC

  • Year: 2017
  • Acquisition Price (USD millions): 205
  • Strategic Rationale: The Acquisition of VantaCore expanded NRP's construction aggregates royalty business and allows further expansion of the aggregates and industrial minerals portfolio.

Growth Trajectory and Initiatives

Historical Growth: Historically, NRP's growth was linked to acquisitions of mineral reserves, particularly in coal. However, it has shifted towards a more diversified strategy, including soda ash and construction aggregates. Revenue trends have fluctuated with commodity prices and production volumes of its operators.

Future Projections: Future growth depends on commodity price trends, acquisition opportunities, and the performance of its operators. Analysts estimate moderate growth in revenues driven by soda ash and construction aggregates, offsetting declines in coal.

Recent Initiatives: Recent initiatives include focusing on debt reduction, divesting non-core assets, and expanding its presence in soda ash and construction aggregates. Investment in new technologies to improve operational efficiency is also a key focus.

Summary

Natural Resource Partners is a diversified royalty-based business involved in various natural resources. It has shifted its focus away from coal to a more diversified strategy including soda ash and construction aggregates. Its strength lies in its diversified asset base and low operating risk business model. It needs to be cautious of commodity price volatility and regulations that could impact the industry.

Peer Comparison

Sources and Disclaimers

Data Sources:

  • Natural Resource Partners LP Investor Relations
  • SEC Filings (10-K, 10-Q)
  • Financial News Outlets (e.g., Bloomberg, Reuters)
  • Industry Reports (e.g., Wood Mackenzie, Argus Media)

Disclaimers:

This analysis is based on publicly available information and is not financial advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor. Market share data is estimated and may not be precise.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Natural Resource Partners LP

Exchange NYSE
Headquaters Houston, TX, United States
IPO Launch date 2002-10-11
Chairman & CEO of GP Natural Resource Partners LLC Mr. Corbin J. Robertson Jr.
Sector Energy
Industry Thermal Coal
Full time employees -
Full time employees -

Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. The company operates in 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 the Appalachia Basin, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties located in the United States; and oil and gas properties located in Louisiana. 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.