Mesabi Trust (NYSE:MSB) Announces Quarterly Earnings Results

Mesabi Trust (NYSE:MSB) announced its quarterly earnings results on Friday. The mining company reported ($0.01) EPS for the quarter, FiscalAI reports. The firm had revenue of $2.48 million during the quarter. Mesabi Trust had a net margin of 75.32% and a return on equity of 54.83%.

Mesabi Trust Stock Up 1.3%

Shares of Mesabi Trust stock traded up $0.29 on Friday, reaching $22.77. The company’s stock had a trading volume of 27,229 shares, compared to its average volume of 49,293. The company has a market capitalization of $298.74 million, a price-to-earnings ratio of 26.48 and a beta of 0.34. The firm’s fifty day simple moving average is $23.65 and its two-hundred day simple moving average is $26.82. Mesabi Trust has a 52 week low of $21.60 and a 52 week high of $42.38.

Mesabi Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, July 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, July 30th. Mesabi Trust’s dividend payout ratio (DPR) is currently 23.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MSB. Quattro Advisors LLC purchased a new stake in shares of Mesabi Trust in the fourth quarter worth about $31,000. NewEdge Advisors LLC increased its position in shares of Mesabi Trust by 57.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock valued at $39,000 after purchasing an additional 587 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Mesabi Trust during the 1st quarter valued at $44,000. Barclays PLC purchased a new stake in Mesabi Trust during the 4th quarter valued at $58,000. Finally, Osaic Holdings Inc. lifted its position in Mesabi Trust by 19.9% in the fourth quarter. Osaic Holdings Inc. now owns 5,164 shares of the mining company’s stock worth $199,000 after buying an additional 857 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Mesabi Trust in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

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.