Natural Resource Partners LP

NRP remains entrenched in a Stage 4 decline with clear lower highs and lower lows and persistent selling into rallies. Price is below all key EMAs acting as resistance, and while oversold conditions are present, no exhaustion pattern suggests relief is imminent. The dominant downtrend supports selling on any uptick into the declining 9/21 EMA area.

• ↑Q1 2026 free cash flow reached $34 M (TTM $167 M), showing resilience.
• ↑Debt reduced to $45 M from $73 M since Q4 2025, lowering leverage risk.
• ↓Q1 2026 net income was $20 M, with $12 M soda ash loss.