Mesabi Trust (NYSE:MSB) Issues Quarterly Earnings Results

Mesabi Trust (NYSE:MSB) released its earnings results on Wednesday. The mining company reported $0.21 earnings per share (EPS) for the quarter, FiscalAI reports. Mesabi Trust had a net margin of 82.80% and a return on equity of 79.30%.

Mesabi Trust Stock Up 1.7%

MSB stock traded up $0.49 during midday trading on Wednesday, hitting $28.58. The company’s stock had a trading volume of 37,498 shares, compared to its average volume of 53,621. Mesabi Trust has a 12 month low of $22.55 and a 12 month high of $42.38. The firm has a market capitalization of $374.90 million, a price-to-earnings ratio of 21.81 and a beta of 0.50. The company has a 50 day moving average of $31.55 and a two-hundred day moving average of $33.80.

Mesabi Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Thursday, April 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, April 30th. Mesabi Trust’s dividend payout ratio is presently 79.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quattro Advisors LLC bought a new position in Mesabi Trust in the 4th quarter worth approximately $31,000. Quent Capital LLC bought a new position in Mesabi Trust in the 3rd quarter worth approximately $28,000. Farther Finance Advisors LLC boosted its stake in Mesabi Trust by 73.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock worth $57,000 after purchasing an additional 630 shares during the period. Colonial Trust Advisors bought a new position in Mesabi Trust in the 3rd quarter worth approximately $44,000. Finally, Barclays PLC bought a new position in shares of Mesabi Trust during the 4th quarter valued at approximately $58,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Mesabi Trust in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

About Mesabi Trust

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.