Natural Resource’s “Neutral” Rating Reaffirmed at Zacks (NRP)
Natural Resource (NYSE:NRP)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Friday, Analyst Ratings.Net reports. They currently have a $20.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 3.79% from the company’s current price.
Zacks‘ analyst wrote, “Natural Resource Partners L.P.’s performance in the last quarter was affected primarily due to softness in the global metallurgical coal market. The partnership’s focus on the development of low-cost and profitable mines in the Illinois basin will contribute to a steady revenue flow in the future. Natural Resource is expected to benefit from the rising export demand for metallurgical coal given the World Steel Association’s projection of a 3.2% increase in steel utilization worldwide in 2014. In addition, the partnership’s healthy liquidity position will allow it to effectively carry out its growth-centric ventures. However, rising operating expenses and regulatory hurdles are a matter of concern. We retain our Neutral recommendation on the stock. “
Natural Resource (NYSE:NRP) traded up 0.26% on Friday, hitting $19.32. The stock had a trading volume of 26,596 shares. Natural Resource has a 1-year low of $16.90 and a 1-year high of $24.37. The stock’s 50-day moving average is $19.58 and its 200-day moving average is $21.58. The company has a market cap of $2.122 billion and a price-to-earnings ratio of 10.53.
Natural Resource (NYSE:NRP) last announced its earnings results on Wednesday, August 7th. The company reported $0.37 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.04. The company had revenue of $86.80 million for the quarter, compared to the consensus estimate of $91.16 million. During the same quarter last year, the company posted $0.46 earnings per share. Natural Resource’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that Natural Resource will post $1.54 EPS for the current fiscal year.
Natural Resource Partners L.P. is a limited partnership engaged principally in the business of owning and managing coal properties in the three coal-producing regions of the United States: Appalachia, the Illinois Basin and the Western United States.
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