Mesabi Trust (NYSE:MSB) Issues Earnings Results

Mesabi Trust (NYSE:MSB) released its earnings results on Friday. The mining company reported ($0.01) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $2.48 million during the quarter. Mesabi Trust had a return on equity of 54.83% and a net margin of 75.32%.

Mesabi Trust Price Performance

Shares of MSB opened at $22.77 on Friday. The firm’s 50 day moving average is $23.59 and its 200-day moving average is $26.79. The stock has a market capitalization of $298.74 million, a P/E ratio of 46.47 and a beta of 0.34. Mesabi Trust has a 12-month low of $21.60 and a 12-month high of $42.38.

Mesabi Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, July 30th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, July 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. Mesabi Trust’s dividend payout ratio (DPR) is 23.26%.

Institutional Trading of Mesabi Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quattro Advisors LLC acquired a new position in Mesabi Trust in the fourth quarter worth approximately $31,000. NewEdge Advisors LLC lifted its position in shares of Mesabi Trust by 57.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock valued at $39,000 after acquiring an additional 587 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Mesabi Trust during the 1st quarter valued at $44,000. Barclays PLC bought a new stake in shares of Mesabi Trust during the 4th quarter worth $58,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Mesabi Trust by 19.9% during the 4th quarter. Osaic Holdings Inc. now owns 5,164 shares of the mining company’s stock worth $199,000 after acquiring an additional 857 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Mesabi Trust in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

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.