Professional
Added to YB: 2026-04-09
Pitch date: 2026-04-08
NRP [neutral]
Natural Resource Partners L.P.
-13.74%
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
$1.6B
Pitch Price
$119.10
Price Target
250.00 (+143%)
Dividend
N/A
EV/EBITDA
11.50
P/E
13.85
EV/Sales
8.85
Sector
Oil, Gas and Consumable Fuels
Category
dividend
Right Tail Capital Portfolio Holding: Natural Resource Partners L.P.
NRP (holding update): Coal royalty co (13M acres) w/ 70-75% op margins, 65-75% rev from met coal. 25+ yrs met coal reserves, 70+ thermal. Debt-free by YE after paying down $1.4B over 10yrs. Est $15-25/sh FCF in normalized environment. Trades 8-10x norm earnings despite 25+ yr reserve life. At 8-10% yield = $200-250 PT vs $125 today. Mgmt owns 30%. Risk: commodity downturn, capital allocation.
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