Mesabi Trust (NYSE:MSB) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Mesabi Trust (NYSE:MSB) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.69 and traded as high as $33.75. Mesabi Trust shares last traded at $32.8050, with a volume of 61,015 shares trading hands.

Analysts Set New Price Targets

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

Mesabi Trust Trading Down 0.7%

The business’s fifty day moving average price is $36.38 and its 200 day moving average price is $33.71. The firm has a market capitalization of $430.40 million, a price-to-earnings ratio of 25.04 and a beta of 0.55.

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

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.04 annualized dividend and a yield of 3.2%. Mesabi Trust’s dividend payout ratio is currently 79.39%.

Institutional Investors Weigh In On Mesabi Trust

Several large investors have recently modified their holdings of the stock. Quent Capital LLC purchased a new position in Mesabi Trust during the 3rd quarter worth $28,000. Quattro Advisors LLC purchased a new stake in Mesabi Trust during the fourth quarter worth about $31,000. NewEdge Advisors LLC grew its position in Mesabi Trust by 57.3% during the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after buying an additional 587 shares during the period. Colonial Trust Advisors purchased a new position in Mesabi Trust in the third quarter valued at about $44,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Mesabi Trust during the 1st quarter valued at approximately $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.