Friday, January 12, 2024

Coal in your stocking this past Christmas? Not a bad investment

If you found coal in your stocking Christmas morning it may have nothing to do with the way you behaved the past year. Santa could be giving you a hint, invest in coal.

Investors are flocking to coal stocks right now, highlighting the sector as one of the best places to invest right now. One coal stock on a positive upward trend, with a dividend, is Natural Resource Partners LP.

Natural Resource Partners LP (NYSE: NRP)

Based in Houston, Texas, Natural Resource Partners L.P. is a diversified natural resource company that owns, manages, and leases a diversified portfolio of properties in the United States. The properties include coal, industrial minerals, and other natural resources. The company also has rights to conduct carbon sequestration and renewable energy activities.

In addition, NRP owns an equity investment in Sisecam Wyoming LLC, one of the world’s lowest-cost producers of soda ash.

Some of the company’s positive upward trend was provided during NRP’s third quarter 2023 results in November.

"NRP had another robust quarter with $80 million of free cash flow generated in the third quarter of 2023 as a result of continued strong performance from our mineral rights assets and a significant cash distribution from our soda ash investment," said Craig Nunez, NRP's president and chief operating officer, in a company press release.

In addition, NRP’s board of directors declared a third-quarter 2023 cash dividend in November of $0.75 per share. The dividend was paid on Nov. 21. The board also declared a $2.15 million cash distribution on NRP's outstanding preferred units.

Shares of NRP stock are up 106.87% over the past year. This year alone the stock is up 9.29%, closing Friday at $101.16 per share, up 3.40% for the day.

NRP shares have a 52-week low of $44.68 and a high of $102.00.

NRP 2023 Dividend History

  • 11/13/2023       Cash      $0.75
  • 08/15/2023       Cash      $0.75
  • 05/15/2023       Cash      $0.75
  • 03/13/2023       Cash      $2.43
  • 02/13/2023       Cash      $0.75

Disclaimer: This post is provided for information purposes only and should not be used as the basis for any investment decision. I am neither licensed nor qualified to provide investment advice. Keith Stein has no position in any stocks mentioned in this post. DCNewsroom has no position in any of the stocks mentioned in this post.

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