12,979 Shares in Mesabi Trust $MSB Purchased by Steinberganna Wealth Management

Steinberganna Wealth Management purchased a new stake in Mesabi Trust (NYSE:MSB) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,979 shares of the mining company’s stock, valued at approximately $375,000.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Mesabi Trust by 14.1% in the 1st quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock valued at $725,000 after purchasing an additional 3,303 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Mesabi Trust in the 1st quarter valued at $44,000. Wealth Enhancement Advisory Services LLC acquired a new position in Mesabi Trust in the 2nd quarter valued at $203,000. Redhawk Wealth Advisors Inc. purchased a new position in Mesabi Trust during the 2nd quarter worth $818,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Mesabi Trust in the 2nd quarter worth $329,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Mesabi Trust in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mesabi Trust currently has an average rating of “Hold”.

Mesabi Trust Stock Performance

Mesabi Trust stock opened at $41.42 on Friday. Mesabi Trust has a one year low of $22.55 and a one year high of $42.25. The business has a fifty day moving average of $34.92 and a two-hundred day moving average of $31.57. The company has a market cap of $543.43 million, a P/E ratio of 31.62 and a beta of 0.57.

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

Mesabi Trust 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.