Mesabi Trust (NYSE:MSB) Short Interest Up 34.7% in December

Mesabi Trust (NYSE:MSB) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 118,362 shares, an increase of 34.7% from the November 30th total of 87,863 shares. Based on an average daily trading volume, of 30,235 shares, the days-to-cover ratio is presently 3.9 days. Currently, 0.9% of the shares of the company are sold short. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 30,235 shares, the days-to-cover ratio is presently 3.9 days.

Hedge Funds Weigh In On Mesabi Trust

A number of hedge funds have recently bought and sold shares of the business. CWA Asset Management Group LLC acquired a new position in Mesabi Trust during the third quarter worth about $4,653,000. Advisory Services Network LLC increased its holdings in Mesabi Trust by 351.2% in the 2nd quarter. Advisory Services Network LLC now owns 181,347 shares of the mining company’s stock worth $4,345,000 after purchasing an additional 141,159 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in Mesabi Trust by 2.0% in the second quarter. Horizon Kinetics Asset Management LLC now owns 2,960,590 shares of the mining company’s stock valued at $70,936,000 after purchasing an additional 58,895 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Mesabi Trust during the second quarter worth about $818,000. Finally, State of Wyoming acquired a new position in shares of Mesabi Trust in the second quarter valued at approximately $407,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Mesabi Trust in a research report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Mesabi Trust Stock Up 4.9%

Shares of NYSE:MSB traded up $1.79 during mid-day trading on Tuesday, reaching $38.31. 57,215 shares of the stock were exchanged, compared to its average volume of 35,281. The company has a market cap of $502.63 million, a P/E ratio of 29.24 and a beta of 0.62. Mesabi Trust has a one year low of $22.55 and a one year high of $38.63. The stock’s 50 day simple moving average is $34.36 and its 200-day simple moving average is $30.91.

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

Mesabi Trust Increases Dividend

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

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.