Mesabi Trust (NYSE:MSB) Releases Quarterly Earnings Results

Mesabi Trust (NYSE:MSB) posted its quarterly earnings data on Thursday. The mining company reported $0.28 earnings per share (EPS) for the quarter, Zacks reports. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%. The firm had revenue of $4.74 million for the quarter.

Mesabi Trust Trading Down 3.5%

Shares of NYSE:MSB opened at $25.70 on Friday. Mesabi Trust has a twelve month low of $15.93 and a twelve month high of $37.00. The company’s 50 day moving average is $26.49 and its 200 day moving average is $27.04. The company has a market cap of $337.18 million, a PE ratio of 3.67 and a beta of 0.56.

Mesabi Trust Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 20th. Stockholders of record on Thursday, May 1st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a dividend yield of 8.05%. Mesabi Trust’s dividend payout ratio (DPR) is currently 31.50%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Mesabi Trust from a “buy” rating to a “hold” rating in a report on Saturday.

Hedge Funds Weigh In On Mesabi Trust

A hedge fund recently bought a new stake in Mesabi Trust stock. Acadian Asset Management LLC purchased a new position in Mesabi Trust (NYSE:MSB) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,648 shares of the mining company’s stock, valued at approximately $44,000.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. Mesabi Trust was founded in 1961 and is based in New York, New York.