Natural Resource Rating Reiterated by Zacks (NRP)
Natural Resource (NYSE:NRP)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Wednesday. They currently have a $17.00 price target on the stock. Zacks‘s price objective suggests a potential upside of 6.25% from the company’s current price.
Zacks’ analyst wrote, “Natural Resource Partners LP’s earnings and revenue marginally surpassed the Zacks Consensus Estimates in the first quarter of 2014 as lower production from lessees impacted the partnership’s results. Going forward, the partnership stands to benefit from its continued efforts to increase its unconventional asset base. Natural Resource Partners’ efforts to develop its operations at the low-cost Illinois Basin will bode well for its future growth given the basin’s proximity to supply terminals. Meanwhile, the supply glut in the global metallurgical coal market will likely erode given the increased global steel demand. This will certainly act as a catalyst to production volume by lessees, which in turn would boost the partnership’s revenue base. However, tighter environmental legislation and lower distribution offering might limit the partnership’s growth opportunities. We retain our Neutral recommendation on the stock.”
Shares of Natural Resource (NYSE:NRP) traded down 0.06% on Wednesday, hitting $15.99. 182,105 shares of the company’s stock traded hands. Natural Resource has a one year low of $12.78 and a one year high of $22.39. The stock has a 50-day moving average of $15.07 and a 200-day moving average of $16.26. The company has a market cap of $1.765 billion and a price-to-earnings ratio of 11.44.
Natural Resource (NYSE:NRP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.03. The company had revenue of $80.30 million for the quarter, compared to the consensus estimate of $79.18 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 14.8% on a year-over-year basis. On average, analysts predict that Natural Resource will post $1.17 earnings per share 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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