Mesabi Trust (NYSE:MSB) Issues Quarterly Earnings Results

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

Mesabi Trust Stock Performance

Shares of MSB opened at $22.77 on Friday. Mesabi Trust has a 52 week low of $21.60 and a 52 week high of $42.38. The company has a market capitalization of $298.74 million, a PE ratio of 26.48 and a beta of 0.34. The company’s 50 day moving average price is $23.59 and its 200 day moving average price is $26.79.

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, July 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. Mesabi Trust’s payout ratio is presently 23.26%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MSB. Quattro Advisors LLC bought a new stake in shares of Mesabi Trust in the 4th quarter valued at approximately $31,000. NewEdge Advisors LLC lifted its stake in shares of Mesabi Trust by 57.3% in 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 bought a new stake in Mesabi Trust in the first quarter worth $44,000. Barclays PLC acquired a new position in Mesabi Trust during the fourth quarter worth $58,000. Finally, Osaic Holdings Inc. increased its position in Mesabi Trust by 19.9% during 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.

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.