Natural Resource Partners LP (NRP) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “Natural Resource Partners is witnessing a steady erosion in coal royalty revenues given the weak fundamentals in the thermal and metallurgical coal markets. We believe coal-related companies like Natural Resource Partners will increasingly find the going tough due to the continuous decline in coal demand for electricity generation. Coal is being replaced by cheap natural gas and other alternate sources in the power sector. However, coal demand is expected to improve in 2017, as a warmer-than-normal summer in 2016 has led to heavy drawdowns of inventories at the utilities. As part of its strategy to focus on core operations, Natural Resource sold off its non-operated oil and gas working-interest assets. The partnership is also well placed to reap the benefits of the aggregates market from its VantaCore business.”
Natural Resource Partners (NYSE:NRP) traded down 4.69% on Wednesday, reaching $29.07. The company’s stock had a trading volume of 65,045 shares. The stock’s market cap is $355.58 million. The firm’s 50-day moving average price is $23.85 and its 200-day moving average price is $17.05. Natural Resource Partners has a 52-week low of $5.00 and a 52-week high of $31.29.
Natural Resource Partners (NYSE:NRP) last announced its earnings results on Thursday, August 4th. The company reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $3.53. The company had revenue of $70.15 million for the quarter, compared to the consensus estimate of $88.10 million. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. On average, equities analysts expect that Natural Resource Partners will post $6.52 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG raised its stake in shares of Natural Resource Partners by 180.8% in the first quarter. UBS Group AG now owns 126,978 shares of the company’s stock worth $952,000 after buying an additional 81,757 shares during the last quarter. Centerbridge Partners L.P. bought a new position in Natural Resource Partners during the second quarter worth about $444,000. Arrow Investment Advisors LLC increased its position in Natural Resource Partners by 44.1% in the second quarter. Arrow Investment Advisors LLC now owns 73,129 shares of the company’s stock worth $1,049,000 after buying an additional 22,376 shares during the period. Wedbush Securities Inc. bought a new position in Natural Resource Partners during the second quarter worth about $299,000. Finally, Acrospire Investment Management LLC increased its position in Natural Resource Partners by 5,572.6% in the second quarter. Acrospire Investment Management LLC now owns 12,196 shares of the company’s stock worth $175,000 after buying an additional 11,981 shares during the period.
About Natural Resource Partners
Natural Resource Partners L.P. owns, operates, manages and leases a portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, crude oil and natural gas, construction aggregates, frac sand and other natural resources. The Company’s Coal, Hard Mineral Royalty and Other segment consists primarily of coal royalty, coal related transportation and processing assets, aggregate and industrial minerals royalty assets and timber.
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