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

Mesabi Trust (NYSE:MSB)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $33.29 and traded as high as $36.66. Mesabi Trust shares last traded at $36.17, with a volume of 38,130 shares.

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, According to MarketBeat, the company presently has an average rating of “Hold”.

Mesabi Trust Stock Performance

The firm has a market capitalization of $474.55 million, a PE ratio of 27.61 and a beta of 0.55. The stock’s 50-day simple moving average is $36.19 and its 200-day simple moving average is $33.29.

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

Mesabi Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, January 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. Mesabi Trust’s dividend payout ratio is 79.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MSB. Quent Capital LLC bought a new stake in shares of Mesabi Trust during the third quarter valued at approximately $28,000. NewEdge Advisors LLC lifted 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 valued at $39,000 after buying an additional 587 shares during the period. Colonial Trust Advisors bought a new stake in shares of Mesabi Trust during the 3rd quarter valued at $44,000. Acadian Asset Management LLC bought a new stake in shares of Mesabi Trust during the 1st quarter valued at $44,000. Finally, Farther Finance Advisors LLC grew its position in shares of 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 buying an additional 630 shares during the period.

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.