Zacks Investment Research cut shares of Natural Resource Partners LP (NYSE:NRP) from a hold rating to a sell rating in a report released on Wednesday morning.

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.”

Shares of Natural Resource Partners (NYSE:NRP) traded down 4.69% during midday trading on Wednesday, reaching $29.07. The company’s stock had a trading volume of 65,045 shares. The stock has a 50-day moving average of $23.85 and a 200 day moving average of $17.05. Natural Resource Partners has a 12 month low of $5.00 and a 12 month high of $31.29. The company’s market cap is $355.58 million.

Natural Resource Partners (NYSE:NRP) last released its quarterly earnings data on Thursday, August 4th. The company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $3.53. The company earned $70.15 million during the quarter, compared to the consensus estimate of $88.10 million. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. On average, analysts predict that Natural Resource Partners will post $6.52 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NRP. Wedbush Securities Inc. acquired a new position in Natural Resource Partners during the second quarter worth about $299,000. Acrospire Investment Management LLC boosted 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 last quarter. Arrow Investment Advisors LLC boosted 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 last quarter. Centerbridge Partners L.P. acquired a new position in Natural Resource Partners during the second quarter worth about $444,000. Finally, KCG Holdings Inc. boosted its position in Natural Resource Partners by 51.6% in the second quarter. KCG Holdings Inc. now owns 24,222 shares of the company’s stock worth $348,000 after buying an additional 8,249 shares during the last quarter.

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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