Mesabi Trust (NYSE:MSB) Sees Significant Growth in Short Interest

Mesabi Trust (NYSE:MSB) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 118,362 shares, a growth of 34.7% from the November 30th total of 87,863 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 30,235 shares, the short-interest ratio is currently 3.9 days. Based on an average daily volume of 30,235 shares, the short-interest ratio is currently 3.9 days. Approximately 0.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Mesabi Trust in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Mesabi Trust

Large investors have recently modified their holdings of the stock. CWA Asset Management Group LLC bought a new stake in shares of Mesabi Trust in the 3rd quarter worth approximately $4,653,000. Advisory Services Network LLC increased its position in Mesabi Trust by 351.2% in the second quarter. Advisory Services Network LLC now owns 181,347 shares of the mining company’s stock worth $4,345,000 after buying an additional 141,159 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Mesabi Trust by 2.0% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 2,960,590 shares of the mining company’s stock valued at $70,936,000 after buying an additional 58,895 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Mesabi Trust during the 2nd quarter worth $818,000. Finally, State of Wyoming bought a new position in shares of Mesabi Trust during the 2nd quarter worth $407,000.

Mesabi Trust Stock Up 4.9%

Mesabi Trust stock traded up $1.79 during mid-day trading on Tuesday, reaching $38.31. 57,215 shares of the company’s stock were exchanged, compared to its average volume of 35,281. The business’s fifty day simple moving average is $34.36 and its 200 day simple moving average is $30.91. Mesabi Trust has a one year low of $22.55 and a one year high of $38.63. The firm has a market capitalization of $502.63 million, a PE ratio of 29.24 and a beta of 0.62.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $3.39 million during the quarter. Mesabi Trust had a return on equity of 79.30% and a net margin of 82.80%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, October 30th were given a $0.34 dividend. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.12. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, October 30th. Mesabi Trust’s payout ratio is presently 103.82%.

About Mesabi Trust

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.