Professional
Added to YB: 2026-08-05
Pitch date: 2026-07-31
NRP [neutral]
Natural Resource Partners L.P.
+12.7%
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
$1.5B
Pitch Price
$97.41
Price Target
193.00 (+76%)
Dividend
2.73%
EV/EBITDA
10.70
P/E
14.01
EV/Sales
7.34
Sector
Oil, Gas and Consumable Fuels
Category
dividend
Greystone Capital Management Porfolio Holding: Natural Resource Partners L.P.
NRP (holding update): Coal & soda ash royalty biz, flat/down 18mo on weak commodity pricing. $39M soda ash JV cash infusion viewed as one-time. Coal supply/demand imbalance persists w/ record demand, -2% production, AI datacenter tailwind. Now net cash, minimal price risk via royalty model + guaranteed minimums. ~13% distribution yield on trough FCF. Upside >100% w/ soda ash normalization, higher coal, carbon capture optionality as pure upside.
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