Mesabi Trust (NYSE:MSB) Reaches New 1-Year High – What’s Next?

Shares of Mesabi Trust (NYSE:MSB) reached a new 52-week high on Wednesday . The company traded as high as $42.38 and last traded at $41.2940, with a volume of 17011 shares changing hands. The stock had previously closed at $40.63.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Mesabi Trust in a research note on Monday, December 29th. 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”.

Mesabi Trust Price Performance

The business has a 50 day moving average price of $35.55 and a two-hundred day moving average price of $32.17. The stock has a market cap of $536.82 million, a PE ratio of 31.23 and a beta of 0.57.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share 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 for the quarter.

Hedge Funds Weigh In On Mesabi Trust

A number of institutional investors have recently bought and sold shares of MSB. Apollon Wealth Management LLC grew its position in Mesabi Trust by 5.1% in the third quarter. Apollon Wealth Management LLC now owns 11,753 shares of the mining company’s stock worth $344,000 after acquiring an additional 574 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Mesabi Trust by 57.3% during the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock valued at $39,000 after buying an additional 587 shares during the last quarter. Quent Capital LLC acquired a new position in Mesabi Trust during the third quarter valued at $28,000. Colonial Trust Advisors acquired a new stake in Mesabi Trust during the third quarter valued at $44,000. Finally, Acadian Asset Management LLC purchased a new stake in Mesabi Trust in the 1st quarter worth $44,000.

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.