Zacks Investment Research Downgrades Natural Resource Partners LP (NRP) to Strong Sell
Natural Resource Partners LP (NYSE:NRP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “In last six months, loss in the units of Natural Resource Partners’ was wider than the industry’s decline. The partnership’s earnings per unit in the second quarter were lower than the Zacks Consensus Estimate. The decline was due to lower contribution from its Soda Ash segment. The company depends on a few customers for coal royalty revenues, which could adverse impact its future performance. Rising competition in domestic and international space are headwinds. Natural Resource Partners is well poised to reap the benefits of improving metallurgical coal prices and President Trump’s decision to relax the stringent environmental regulations. Additionally, the strong natural gas prices have been helpful for the thermal coal industry.”
Several other research analysts also recently weighed in on the stock. Stifel Nicolaus set a $31.00 target price on shares of Natural Resource Partners and gave the company a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of Natural Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, BidaskClub upgraded shares of Natural Resource Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.75.
Shares of Natural Resource Partners (NRP) opened at 27.50 on Thursday. The stock’s 50 day moving average is $27.72 and its 200-day moving average is $33.08. The firm has a market cap of $336.38 million, a P/E ratio of 8.75 and a beta of 0.65. Natural Resource Partners has a one year low of $16.59 and a one year high of $45.60.
Natural Resource Partners (NYSE:NRP) last announced its earnings results on Wednesday, May 10th. The energy company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $1.67 by $1.64. The firm had revenue of $88.70 million during the quarter, compared to analysts’ expectations of $89.49 million. Natural Resource Partners had a net margin of 22.86% and a return on equity of 62.10%. Analysts anticipate that Natural Resource Partners will post $4.49 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in NRP. JPMorgan Chase & Co. increased its position in Natural Resource Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 657,207 shares of the energy company’s stock worth $18,106,000 after buying an additional 257,912 shares during the period. Marshall Wace North America L.P. bought a new position in Natural Resource Partners during the second quarter worth approximately $308,000. Bank of America Corp DE increased its position in Natural Resource Partners by 5.5% in the first quarter. Bank of America Corp DE now owns 15,188 shares of the energy company’s stock worth $549,000 after buying an additional 790 shares during the period. Morgan Stanley increased its position in Natural Resource Partners by 488.5% in the first quarter. Morgan Stanley now owns 341,621 shares of the energy company’s stock worth $12,350,000 after buying an additional 283,574 shares during the period. Finally, Van ECK Associates Corp bought a new position in Natural Resource Partners during the first quarter worth approximately $2,607,000. Institutional investors and hedge funds own 21.59% of the company’s stock.
Natural Resource Partners Company Profile
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, construction aggregates and other natural resources. Coal Royalty and Other segment consists primarily of coal royalty and coal related transportation and processing assets.
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