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

Mesabi Trust (NYSE:MSB)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.55 and traded as high as $35.28. Mesabi Trust shares last traded at $34.1160, with a volume of 31,908 shares traded.

Analysts Set New Price Targets

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

Mesabi Trust Trading Down 0.5%

The company has a market capitalization of $444.18 million, a PE ratio of 25.84 and a beta of 0.55. The business’s fifty day moving average is $36.50 and its two-hundred day moving average is $33.56.

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

Mesabi Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, January 30th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, January 30th. Mesabi Trust’s dividend payout ratio (DPR) is 79.39%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its stake in shares of Mesabi Trust by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,841 shares of the mining company’s stock valued at $1,188,000 after purchasing an additional 432 shares during the period. Apollon Wealth Management LLC grew its position in Mesabi Trust by 5.1% during the third quarter. Apollon Wealth Management LLC now owns 11,753 shares of the mining company’s stock valued at $344,000 after buying an additional 574 shares during the period. NewEdge Advisors LLC grew 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. Farther Finance Advisors LLC boosted its stake in shares of Mesabi Trust by 73.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock worth $57,000 after acquiring an additional 630 shares during the period. Finally, Quattro Advisors LLC purchased a new stake in shares of Mesabi Trust during the fourth quarter worth about $31,000.

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.