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Wed, Jan. 27, 2:46 PM
- Natural Resource Partners (NRP +0.8%) approves a 1-for-10 reverse split on its common units, effective after the market closes on Feb. 17.
- NRP says the announced Q4 distribution of $0.045/unit will not be affected, as the distribution will be paid in advance of the effective date of the reverse split.
Thu, Jan. 21, 8:14 AM
Mon, Jan. 11, 2:49 PM
- Arch Coal (ACI -50.7%) is cut in half following news it has filed Chapter 11 bankruptcy and will be delisted from the NYSE, and the miner says its discussions with customers indicate that even after tumbling domestic coal demand the past eight years, "2016 pricing will remain weaker than previously anticipated."
- ACI's default on $3.2B of debt bring the metals and mining sector’s trailing 12-month default rate to 15% from 11% at the end of December and the default rate for the coal subsector an "unprecedented" 43%, according to Fitch Ratings.
- Analysts say investors should expect more such bankruptcies among commodity companies this year, as a strong dollar and slowing global demand growth should keep downward pressure on commodity prices.
- ACI's bankruptcy helps drag down other mining names today: BTU -19%, CNX -10.8%, YZC -2.3%, NRP -7.2%, CLD -11.4%, WLB -5.1%, ARLP +0.1%, KOL -2.6%.
Nov. 5, 2015, 8:09 AM
- Natural Resource Partners (NYSE:NRP): Q3 EPS of $0.23 beats by $0.11.
- Revenue of $125.5M (+37.0% Y/Y) beats by $6.76M.
Nov. 4, 2015, 5:30 PM
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Nov. 3, 2015, 12:48 PM
Oct. 22, 2015, 3:12 PM
- Natural Resource Partners (NYSE:NRP) declares $0.045/share quarterly dividend, -50% decrease from prior dividend of $0.09.
- Forward yield 8.96%
- Payable Nov. 13; for shareholders of record Nov. 5; ex-div Nov. 3.
Oct. 22, 2015, 11:06 AM
- Natural Resource Partners (NRP -11.9%) plunges after cutting its quarterly distribution in half to $0.045/unit from $0.09/unit, citing the continued deterioration of the coal markets and weakness of oil and gas prices.
- NRP says it expects to recognize material non-cash asset impairments in its Q3 financial results.
- NRP also says it will look to sell certain assets that, combined with the lower dividend payout, "should enable us to remain on track with the strategic plan that we announced in April, with a long-term goal of reducing our consolidated leverage ratio to 3.5x by the end of 2017."
Aug. 6, 2015, 8:06 AM
- Natural Resource Partners (NYSE:NRP): Q2 EPS of $0.25 beats by $0.08.
- Revenue of $137.6M (+51.9% Y/Y) beats by $17.36M.
Aug. 3, 2015, 12:46 PM
Jul. 21, 2015, 4:39 PM
- National Resource Partners (NYSE:NRP) finished more than 20% higher in today's trade, lifting off from a 52-week low after declaring a $0.09/unit distribution, apparently a better result than many investors had expected.
- The upcoming distribution is unchanged from the prior quarter when NRP cut its quarterly payout by nearly 75% from its previous four distributions.
Jul. 21, 2015, 12:45 PM
Jul. 21, 2015, 11:52 AM
- Natural Resource Partners (NYSE:NRP) declares $0.09/share quarterly dividend, in line with previous.
- Forward yield 13.19%
- Payable Aug. 14; for shareholders of record Aug. 5; ex-div Aug. 3.
Jul. 14, 2015, 3:43 PM
- Challenging results should be expected across the spectrum of coal producers, including Peabody Energy (BTU -3.3%), Cloud Peak Energy (CLD -1.5%), Alpha Natural Resources (ANR +0.6%) and Arch Coal (ACI +5.1%), Cowen analysts maintain, seeing average Q2 EBITDA estimates for the group ~4% below consensus.
- Among the coal names, Cowen says it is farthest below consensus for ACI (13% below consensus) and ANR (27% below consensus); amid deteriorating financial conditions, self-bonding capacity has become a hot topic for these companies and will be at the forefront of Q2 earnings calls.
- Cowen considers Alliance Resource Partners (ARLP +0.2%) its top pick and believes the company's White Oak transaction solidifies distribution growth potential; the firm rates ARLP, ACI and Foresight Energy (FELP -2.3%) at Outperform, and Natural Resource Partners (NRP -1.3%) and Teck Resources (TCK -0.2%) at Market Perform.
Jun. 26, 2015, 11:38 AM
- Peabody Energy (BTU -10.2%) sees continued weakness, down ~10% so far today and 20% on the week, although all coal mining shares (KOL -1.5%) have been hammered in recent days.
- Moody's downgraded BTU's corporate credit rating last night to B3 from B2 with a negative outlook, reflecting the rating agency's expectation of a more precipitous deterioration in the company's credit metrics than previously forecast due to the ongoing decline in the seaborne met coal markets.
- The firm sees BTU's debt/EBITDA ratio approaching 9x in 2015 and leverage remaining elevated at ~7x in 2016; absent asset sales, BTU is seen generating negative free cash flows in 2015 and 2016.
- However, BTU and other coal names have been sliding all week; Barron's Ben Levisohn speculates investors may be worried about the pending Supreme Court decision - in light of the Court's "having tilted leftward in its rulings" this week - on whether EPA rules that caused utilities to shutter some coal-fired plans are legal.
- Related tickers: ACI, WLB, CLD, ANR, WLT, CNX, NRP.
May 7, 2015, 8:10 AM
- Natural Resource Partners (NYSE:NRP): Q1 EPS of $0.14 misses by $0.06.
- Revenue of $109.7M (+36.6% Y/Y) misses by $14.56M.
Natural Resources Partners LP is engaged in the business of owning and managing mineral properties in the three coal-producing regions of the United States namely Appalachia, the Illinois Basin and the Western United States.
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