Natural Resource Partners LP (NRP) Raised to “Hold” at TheStreet
Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Natural Resource Partners from a hold rating to a strong-buy rating and set a $38.00 price objective on the stock in a research report on Thursday, November 10th. Seaport Global Securities assumed coverage on Natural Resource Partners in a research report on Wednesday, November 9th. They issued a neutral rating and a $30.00 price objective on the stock.
Natural Resource Partners (NYSE:NRP) opened at 33.90 on Wednesday. Natural Resource Partners has a 52-week low of $5.00 and a 52-week high of $37.90. The firm has a 50-day moving average price of $29.33 and a 200 day moving average price of $20.84. The firm has a market capitalization of $414.66 million, a P/E ratio of 5.89 and a beta of 0.39.
Natural Resource Partners (NYSE:NRP) last posted its earnings results on Monday, November 7th. The company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.26. The firm earned $97.90 million during the quarter, compared to analyst estimates of $83.14 million. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Analysts forecast that Natural Resource Partners will post $7.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $1.80 annualized dividend and a yield of 5.31%.
Institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its position in Natural Resource Partners by 2.2% in the third quarter. Chicago Partners Investment Group LLC now owns 3,974 shares of the company’s stock valued at $111,000 after buying an additional 84 shares during the period. Acrospire Investment Management LLC raised its stake in shares of 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 valued at $175,000 after buying an additional 11,981 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Natural Resource Partners during the second quarter valued at approximately $299,000. Capital Investment Advisors LLC raised its stake in shares of Natural Resource Partners by 4.6% in the second quarter. Capital Investment Advisors LLC now owns 20,872 shares of the company’s stock valued at $300,000 after buying an additional 917 shares in the last quarter. Finally, KCG Holdings Inc. raised its stake in shares of Natural Resource Partners by 51.6% in the second quarter. KCG Holdings Inc. now owns 24,222 shares of the company’s stock valued at $348,000 after buying an additional 8,249 shares in the last quarter.
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, 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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