NRP

Natural Resource Partners L.P.

Energy · $1.5B market cap

Share price

$109.50

close of Oct 3, 2026

Fair value

$79.99

Sticker Price

Payback Price

$32.00

buy price

Overpriced

NRP is Overpriced: at $109.50 it trades 37% above its fair value of $79.99. Its buy price (Payback Price) is $32.00, 71% below today's price. Business quality is limited: only 1 of 5 key numbers clears the 10% bar.

How we valued it

Owner Earnings. Earnings grow slowly (under 7% a year), but cash flow is steady, so we value it on its cash flow instead of its earnings.

Business quality

1 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth2.3% a year✗

Equity per share growth-5.8% a year✗

Sales growth-0.8% a year✗

Free cash flow growth3.3% a year✗

Return on invested capital27.7%✓

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Superinvestors

1 of the investors we track holds NRP. In Q1 2026, 1 trimmed and 1 sold out. Who we track

Bryan Lawrence

Oakcliff Capital · as of Q2 2026

$9.9M

102,057 shares

Moves in Q1 2026

Trimmed: Bryan Lawrence

Sold out: Bruce Berkowitz

Insider activity

Since Aug 28, 2026: no open-market purchases and 1 sale worth $244K. Why purchases matter

Sales

WOOTEN GREGORY F

Executive Vice President · 2026-08-28

Sold

$244K

About Natural Resource Partners L.P.

Natural Resource Partners L.P. (NRP) is engaged in the ownership, management, and leasing of a diverse portfolio of mineral assets across the United States. The company's operations are structured into two primary segments: Mineral Rights and Soda Ash. Its holdings encompass interests in various natural resources, including coal, soda ash, and trona. Key coal reserves are strategically located in the Appalachian…

Coal