Mesabi Trust (NYSE:MSB) Share Price Passes Above 200-Day Moving Average – Here’s Why

Mesabi Trust (NYSE:MSB) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.69 and traded as high as $33.75. Mesabi Trust shares last traded at $32.8050, with a volume of 61,015 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mesabi Trust in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Mesabi Trust Stock Performance

The stock’s 50-day moving average price is $36.38 and its 200-day moving average price is $33.69. The company has a market capitalization of $430.40 million, a price-to-earnings ratio of 25.04 and a beta of 0.55.

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

Mesabi Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, January 30th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, January 30th. Mesabi Trust’s payout ratio is 79.39%.

Hedge Funds Weigh In On Mesabi Trust

Hedge funds have recently added to or reduced their stakes in the business. Quattro Advisors LLC acquired a new position in Mesabi Trust during the fourth quarter worth about $31,000. Quent Capital LLC purchased a new position in shares of Mesabi Trust during the 3rd quarter worth approximately $28,000. Farther Finance Advisors LLC raised its position in shares of Mesabi Trust by 73.2% during 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 last quarter. Colonial Trust Advisors acquired a new position in shares of Mesabi Trust during the 3rd quarter worth approximately $44,000. Finally, Barclays PLC purchased a new stake in Mesabi Trust in the 4th quarter valued at approximately $58,000.

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.