Mesabi Trust (NYSE:MSB) Hits New 12-Month High – Here’s Why

Mesabi Trust (NYSE:MSB)’s share price reached a new 52-week high on Thursday . The stock traded as high as $41.98 and last traded at $41.8150, with a volume of 48447 shares traded. The stock had previously closed at $39.73.

Analysts Set New Price Targets

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

Mesabi Trust Price Performance

The firm’s 50 day moving average is $35.04 and its 200 day moving average is $31.69. The company has a market capitalization of $521.91 million, a PE ratio of 30.37 and a beta of 0.57.

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

Institutional Investors Weigh In On Mesabi Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quent Capital LLC bought a new stake in shares of Mesabi Trust in the 3rd quarter worth approximately $28,000. NewEdge Advisors LLC lifted its stake in Mesabi Trust by 57.3% in the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after acquiring an additional 587 shares during the period. Colonial Trust Advisors purchased a new position in Mesabi Trust during the 3rd quarter valued at $44,000. Acadian Asset Management LLC bought a new position in Mesabi Trust in the 1st quarter worth $44,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mesabi Trust in the 2nd quarter worth about $203,000.

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.