Mesabi Trust (NYSE:MSB) Issues Quarterly Earnings Results

Mesabi Trust (NYSE:MSB) posted its quarterly earnings data on Friday. The mining company reported $999.00 earnings per share for the quarter, Zacks reports. Mesabi Trust had a net margin of 79.14% and a return on equity of 66.13%.

Mesabi Trust Stock Up 5.1%

MSB traded up $1.27 during trading hours on Friday, hitting $25.96. 27,847 shares of the company’s stock were exchanged, compared to its average volume of 55,875. Mesabi Trust has a 1-year low of $22.55 and a 1-year high of $42.38. The stock’s 50-day moving average is $28.20 and its two-hundred day moving average is $32.15. The stock has a market cap of $340.53 million, a price-to-earnings ratio of 24.49 and a beta of 0.29.

Mesabi Trust Cuts Dividend

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

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Mesabi Trust

Several large investors have recently modified their holdings of MSB. Quattro Advisors LLC bought a new stake in shares of Mesabi Trust during the 4th quarter valued at about $31,000. NewEdge Advisors LLC grew its stake 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 period. Acadian Asset Management LLC bought a new stake in shares of Mesabi Trust during the 1st quarter valued at about $44,000. Barclays PLC bought a new stake in shares of Mesabi Trust during the 4th quarter valued at about $58,000. Finally, Osaic Holdings Inc. grew its stake in shares of Mesabi Trust by 19.9% during the 4th quarter. Osaic Holdings Inc. now owns 5,164 shares of the mining company’s stock valued at $199,000 after purchasing an additional 857 shares during the period.

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.