Mesabi Trust (NYSE:MSB) Releases Earnings Results

Mesabi Trust (NYSE:MSB) released its earnings results on Friday. The mining company reported $999.00 earnings per share for the quarter, reports. The firm had revenue of $2.25 million for the quarter. Mesabi Trust had a net margin of 79.14% and a return on equity of 66.13%.

Mesabi Trust Trading Up 5.1%

NYSE MSB opened at $25.96 on Friday. Mesabi Trust has a 12 month low of $22.55 and a 12 month high of $42.38. The stock has a market cap of $340.53 million, a P/E ratio of 30.18 and a beta of 0.29. The stock’s fifty day moving average price is $28.07 and its 200-day moving average price is $32.10.

Mesabi Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Thursday, April 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, April 30th. Mesabi Trust’s payout ratio is 90.57%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Mesabi Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Mesabi Trust presently has an average rating of “Hold”.

Hedge Funds Weigh In On Mesabi Trust

Several large investors have recently modified their holdings of MSB. Geode Capital Management LLC boosted its stake in Mesabi Trust by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 64,866 shares of the mining company’s stock worth $2,499,000 after purchasing an additional 5,189 shares in the last quarter. Royal Bank of Canada increased its stake in Mesabi Trust by 72.1% during the 4th quarter. Royal Bank of Canada now owns 42,528 shares of the mining company’s stock valued at $1,638,000 after purchasing an additional 17,820 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Mesabi Trust in the fourth quarter worth about $1,483,000. Commonwealth Equity Services LLC lifted its stake in shares of Mesabi Trust by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 30,841 shares of the mining company’s stock worth $1,188,000 after buying an additional 432 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Mesabi Trust by 99.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 20,923 shares of the mining company’s stock valued at $806,000 after buying an additional 10,407 shares during the last quarter.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.