Mesabi Trust (NYSE:MSB) Issues Quarterly Earnings Results

Mesabi Trust (NYSE:MSB) released its earnings results on Thursday. The mining company reported $0.28 earnings per share for the quarter, Zacks reports. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Price Performance

NYSE MSB opened at $26.55 on Friday. The business has a fifty day moving average price of $26.48 and a two-hundred day moving average price of $27.05. The stock has a market capitalization of $348.34 million, a PE ratio of 3.79 and a beta of 0.56. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $37.00.

Mesabi Trust Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, May 20th. Shareholders of record on Thursday, May 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a yield of 8.05%. Mesabi Trust’s dividend payout ratio is currently 31.50%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Mesabi Trust from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th.

Hedge Funds Weigh In On Mesabi Trust

An institutional investor recently raised its position in Mesabi Trust stock. Royal Bank of Canada boosted its holdings in Mesabi Trust (NYSE:MSB) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,662 shares of the mining company’s stock after buying an additional 3,303 shares during the quarter. Royal Bank of Canada owned approximately 0.20% of Mesabi Trust worth $725,000 at the end of the most recent reporting period.

Mesabi Trust Company Profile

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