Natural Resource Partners (NRP)
NYSE:NRP
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Natural Resource PRN
(NYSE:NRP)
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Rating:79Outperform
Price Target:
$141.00
▲(33.95% Upside)
Action:ReiteratedDate:02/27/26
The score is driven primarily by strong financial performance (high profitability, strong cash generation, and a de-risked balance sheet). Technicals are supportive with a clear uptrend and positive momentum. Offsetting these positives, the latest earnings call emphasized persistent commodity weakness, declining segment results year-over-year, and a delayed path to meaningful distribution increases, keeping the overall score below the top tier.
Positive Factors
Free Cash Flow Generation
Consistently strong FCF (FY2025 $169M; Q4 $46M) demonstrates durable cash conversion and earnings quality. This sustained cash generation funds debt paydown, discretionary capital, and distributions, increasing long-term financial flexibility through commodity cycles.
Negative Factors
Commodity Price Weakness
Prolonged weakness in metallurgical/thermal coal and generational lows in soda ash depress revenues and margins across core segments. Given the company's royalty-linked exposure, sustained low commodity prices can materially reduce cash flow and extend recovery timelines over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Consistently strong FCF (FY2025 $169M; Q4 $46M) demonstrates durable cash conversion and earnings quality. This sustained cash generation funds debt paydown, discretionary capital, and distributions, increasing long-term financial flexibility through commodity cycles.
Read all positive factors
Natural Resource PRN (NRP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.58B
Dividend Yield4.05%
Average Volume (3M)21.64K
Price to Earnings (P/E)10.4
Beta (1Y)0.44
Revenue Growth-14.79%
EPS Growth-17.10%
CountryUS
Employees56
SectorEnergy
Sector Strength52
IndustryCoal
Share Statistics
EPS (TTM)2.27
Shares Outstanding13,250,412
10 Day Avg. Volume18,932
30 Day Avg. Volume21,640
Financial Highlights & Ratios
PEG Ratio-0.80
Price to Book (P/B)2.23
Price to Sales (P/S)6.85
P/FCF Ratio8.36
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue7.90
Enterprise Value/Gross Profit8.59
Enterprise Value/Ebitda9.96
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Natural Resource PRN Business Overview & Revenue Model
Company Description
Natural Resource PRN (NRP) is a consulting and public relations firm specializing in the natural resources sector, including mining, oil and gas, and renewable energy. The company provides strategic communication services, stakeholder engagement, ...
How the Company Makes Money
NRP generates revenue through several key streams: consulting fees for strategic communication services, retainers for ongoing public relations support, and project-based fees for crisis management and stakeholder engagement initiatives. The compa...
Natural Resource PRN Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how revenue is split across the company’s business lines or geographies, revealing dependence on particular segments and opportunities for diversification. A concentrated revenue mix increases exposure to segment-specific downturns, while balanced growth across segments points to broader resilience and multiple growth engines.
Shows how revenue is split across the company’s business lines or geographies, revealing dependence on particular segments and opportunities for diversification. A concentrated revenue mix increases exposure to segment-specific downturns, while balanced growth across segments points to broader resilience and multiple growth engines.
Data provided by:
The Fly
The FlyNatural Resource PRN Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The call reflects a balanced picture: strong internal financial execution (robust free cash flow, significant debt repayment, improved corporate segment results, and ongoing distributions) contrasts with pronounced and potentially persistent industry headwinds across metallurgical coal, thermal coal, and soda ash. Management is cautious, has made a $39 million JV contribution that delays distribution uplift, and expects near-term commodity pressures to continue.Positive Updates
Strong Free Cash Flow Generation
Generated $46 million of free cash flow in Q4 2025 and $169 million for the full year 2025, providing liquidity to support debt reduction and capital allocation priorities.
Negative Updates
Commodity Price Weakness — Coal and Soda Ash
Metallurgical and thermal coal sales prices are at cyclically low levels and soda ash prices are at generational lows. Management expects continued pressure with no near-term catalyst and anticipates 2026 could be worse for soda ash.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Free Cash Flow Generation
Generated $46 million of free cash flow in Q4 2025 and $169 million for the full year 2025, providing liquidity to support debt reduction and capital allocation priorities.
Read all positive updates
Company Guidance
Management said commodity markets remain weak and near or below marginal cost, yet the partnership generated strong cash metrics: $46M of free cash flow in Q4 and $169M for FY2025, with consolidated net income of $31M in Q4 and $136M for the year and operating cash flow of $45M (Q4) and $166M (FY); the Mineral Rights segment produced Q4 net income/OCF/FCF of $40M/$49M/$50M and FY net income/OCF/FCF of $166M/$182M/$185M (down $13M in each metric versus prior‑year Q4 and down $41M net income and $60M OCF/FCF for the year), metallurgical coal comprised ~70%/65% of coal royalty revenues and ~45% of coal royalty sales volumes (Q4/FY), soda ash results fell (net income down $3M Q4 and $15M FY; OCF/FCF down $11M Q4 and $31M FY), corporate/financing improved (Q4 +$3M; FY net income +$9M; OCF/FCF +$8M), the partnership repaid $109M of debt in 2025 and finished the year with $33M of debt and no other financial obligations, agreed to a $39M capital contribution to Sisecam Wyoming (after which the JV still has $50M+ of debt), does not expect Sisecam distributions to resume near term, paid $0.75/unit in November and $0.75/unit in February (2025-related) and a special $0.12/unit today, and now expects any meaningful distribution increase not in May (nor likely August) but more likely in November, while remaining on track to achieve its deleveraging goal in the coming year.Natural Resource PRN Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
81
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 202.34M | 245.03M | 293.66M | 328.08M | 194.25M |
| Gross Profit | 164.28M | 245.03M | 261.34M | 305.57M | 175.17M |
| EBITDA | 159.31M | 214.73M | 311.03M | 317.29M | 166.85M |
| Net Income | 133.64M | 183.64M | 274.42M | 268.49M | 108.90M |
Balance Sheet | |||||
| Total Assets | 748.37M | 772.91M | 797.88M | 877.13M | 953.82M |
| Cash, Cash Equivalents and Short-Term Investments | 30.14M | 30.44M | 11.99M | 39.09M | 135.52M |
| Total Debt | 33.08M | 142.07M | 159.36M | 171.78M | 433.55M |
| Total Liabilities | 115.85M | 221.80M | 219.64M | 235.09M | 513.89M |
| Stockholders Equity | 621.19M | 541.56M | 570.23M | 636.07M | 438.14M |
Cash Flow | |||||
| Free Cash Flow | 165.86M | 248.49M | 310.97M | 266.72M | 121.80M |
| Operating Cash Flow | 165.86M | 248.49M | 310.98M | 266.84M | 121.80M |
| Investing Cash Flow | 4.77M | 7.51M | 5.42M | 2.69M | 2.41M |
| Financing Cash Flow | -170.93M | -237.55M | -343.50M | -365.95M | -88.49M |
Natural Resource PRN Technical Analysis
Neutral
105.26
Price Trends
120.77
Negative
113.42
Positive
107.12
Positive
Market Momentum
0.14
Positive
45.25
Neutral
20.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRP, the sentiment is Neutral. The current price of 105.26 is below the 20-day moving average (MA) of 121.38, below the 50-day MA of 120.77, and below the 200-day MA of 107.12, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 45.25 is Neutral, neither overbought nor oversold. The STOCH value of 20.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NRP.
Natural Resource PRN Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $1.58B | 10.38 | 22.94% | 4.05% | -14.79% | -17.10% | |
77 Outperform | $3.38B | 9.58 | 17.15% | 11.05% | -9.45% | -46.37% | |
69 Neutral | $3.44B | -68.38 | -1.47% | 0.96% | -7.21% | -106.39% | |
66 Neutral | $2.37B | -42.11 | -3.88% | ― | -32.53% | -112.77% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $4.64B | 81.30 | 2.71% | 0.36% | -23.25% | -90.78% | |
50 Neutral | $874.28M | -18.74 | -12.01% | 2.83% | -16.99% | -184.02% |
* Energy Sector Average
NRP
Natural Resource PRN
119.50
23.51
24.49%
ARLP
Alliance Resource
26.28
2.53
10.67%
AMR
Alpha Metallurgical Resources
192.52
76.61
66.09%
METC
Ramaco Resources
13.55
5.53
68.87%
HCC
Warrior Met Coal
88.35
41.81
89.84%
BTU
Peabody Energy Comm
28.29
16.43
138.47%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.