Professional
Added to YB: 2025-05-06
Pitch date: 2025-05-02
NRP [neutral]
Natural Resource Partners L.P.
+23.34%
current return
Author Info
No bio for this author
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
$1.2B
Pitch Price
$98.91
Price Target
250.00 (+105%)
Dividend
3.30%
EV/EBITDA
4.93
P/E
6.79
EV/Sales
5.23
Sector
Oil, Gas and Consumable Fuels
Category
dividend
Greystone Capital Management Portfolio Holding: Natural Resource Partners L.P.
NRP (holding update): $250mm FCF in FY24 despite lower coal prices. Royalty model needs minimal capex/opex. FY25 FCF will be lower but within 1yr expect unit repurchases & distribution increases yielding 15-20%. China export shutdown unlikely but not priced in - intrinsic value $200-250 vs $100 current price.
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