Mesabi Trust (NYSE:MSB) Trading 5.1% Higher – Should You Buy?
by Doug Wharley · The Cerbat GemMesabi Trust (NYSE:MSB – Get Free Report) shot up 5.1% on Tuesday . The stock traded as high as $38.25 and last traded at $38.37. 49,609 shares traded hands during trading, a decline of 2% from the average session volume of 50,833 shares. The stock had previously closed at $36.52.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “hold (c)” rating on shares of Mesabi Trust in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mesabi Trust presently has an average rating of “Hold”.
Get Our Latest Stock Analysis on MSB
Mesabi Trust Stock Up 1.5%
The business has a 50 day moving average price of $34.44 and a 200 day moving average price of $30.96. The stock has a market cap of $509.19 million, a P/E ratio of 29.63 and a beta of 0.62.
Mesabi Trust (NYSE:MSB – Get Free Report) last issued its quarterly earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $3.39 million during the quarter. Mesabi Trust had a return on equity of 79.30% and a net margin of 82.80%.
Mesabi Trust Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, October 30th were issued a $0.34 dividend. The ex-dividend date was Thursday, October 30th. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.12. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.5%. Mesabi Trust’s dividend payout ratio (DPR) is currently 103.82%.
Institutional Investors Weigh In On Mesabi Trust
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSB. Horizon Kinetics Asset Management LLC grew its stake in Mesabi Trust by 2.0% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 2,960,590 shares of the mining company’s stock worth $70,936,000 after acquiring an additional 58,895 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Mesabi Trust by 351.2% during the second quarter. Advisory Services Network LLC now owns 181,347 shares of the mining company’s stock valued at $4,345,000 after acquiring an additional 141,159 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Mesabi Trust in the second quarter valued at approximately $818,000. Ritholtz Wealth Management bought a new position in Mesabi Trust in the second quarter worth approximately $329,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Mesabi Trust in the second quarter worth approximately $203,000.
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.