Mesabi Trust (NYSE:MSB) Stock Falls 0.7% – Here’s Why

Mesabi Trust (NYSE:MSB)’s stock price fell 0.7% on Monday. The company traded as low as $17.00 and last traded at $17.1250. Approximately 25,721 shares traded hands during trading, a decline of 49% from the average session volume of 50,546 shares. The stock had previously closed at $17.25.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Mesabi Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company has an average rating of “Hold”.

Mesabi Trust Stock Performance

The stock has a market capitalization of $224.68 million, a price-to-earnings ratio of 34.95 and a beta of 0.46. The business’s 50 day simple moving average is $19.67 and its 200-day simple moving average is $25.96.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings results on Friday, September 11th. The mining company reported ($0.01) EPS for the quarter. Mesabi Trust had a net margin of 54.46% and a return on equity of 33.50%. The firm had revenue of $2.48 million during the quarter.

Hedge Funds Weigh In On Mesabi Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in Mesabi Trust by 100.0% in the first quarter. Sei Investments Co. now owns 167,766 shares of the mining company’s stock valued at $5,285,000 after acquiring an additional 83,883 shares during the last quarter. Royal Bank of Canada increased its position in Mesabi Trust by 20.2% in the first quarter. Royal Bank of Canada now owns 51,116 shares of the mining company’s stock worth $1,611,000 after purchasing an additional 8,588 shares during the period. Bank of New York Mellon Corp increased its position in Mesabi Trust by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 100,198 shares of the mining company’s stock worth $3,156,000 after purchasing an additional 7,230 shares during the period. Mad River Investors raised its holdings in Mesabi Trust by 1.1% during the 3rd quarter. Mad River Investors now owns 327,316 shares of the mining company’s stock worth $6,412,000 after purchasing an additional 3,581 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Mesabi Trust by 10.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 15,734 shares of the mining company’s stock worth $496,000 after purchasing an additional 1,437 shares during the last quarter.

Mesabi Trust Company Profile

Mesabi Trust (NYSE:MSB) is a royalty trust that holds interests in certain iron ore properties on Minnesota’s Mesabi Iron Range. The trust does not operate mines or processing facilities itself. Instead, it receives royalty payments tied primarily to the production and sale of iron ore products from the properties in which it holds an interest.

Mesabi Trust’s interests are associated with the Peter Mitchell Mine near Babbitt, Minnesota, and related iron ore processing operations in the region.