Mesabi Trust (NYSE:MSB) Rating Increased to Hold at StockNews.com

Mesabi Trust (NYSE:MSB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Separately, TheStreet lowered shares of Mesabi Trust from a “c” rating to a “d+” rating in a research note on Thursday, May 18th.

Mesabi Trust Trading Up 1.6 %

Shares of Mesabi Trust stock opened at $20.83 on Thursday. Mesabi Trust has a 52-week low of $16.56 and a 52-week high of $29.00. The company’s 50-day simple moving average is $19.03 and its 200-day simple moving average is $21.22.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Tuesday, June 13th. The mining company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $1.85 million for the quarter.

Institutional Trading of Mesabi Trust

Several institutional investors and hedge funds have recently modified their holdings of MSB. Mad River Investors lifted its stake in shares of Mesabi Trust by 21.7% during the first quarter. Mad River Investors now owns 343,575 shares of the mining company’s stock valued at $8,651,000 after buying an additional 61,150 shares during the period. JPMorgan Chase & Co. increased its stake in Mesabi Trust by 288.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 43,968 shares of the mining company’s stock worth $897,000 after buying an additional 32,648 shares during the period. EagleClaw Capital Managment LLC purchased a new stake in Mesabi Trust during the 2nd quarter worth $458,000. Bank of America Corp DE increased its stake in Mesabi Trust by 70.1% during the 1st quarter. Bank of America Corp DE now owns 48,789 shares of the mining company’s stock worth $1,300,000 after buying an additional 20,103 shares during the period. Finally, Moors & Cabot Inc. increased its position in shares of Mesabi Trust by 14.1% in the 2nd quarter. Moors & Cabot Inc. now owns 161,908 shares of the mining company’s stock worth $3,305,000 after purchasing an additional 19,950 shares during the last quarter.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was incorporated in 1961 and is based in New York, New York.