Mesabi Trust (NYSE:MSB - Get Free Report) announced its earnings results on Thursday. The mining company reported $0.28 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $4.74 million during the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.
Mesabi Trust Trading Down 3.5%
NYSE:MSB traded down $0.94 on Friday, reaching $25.70. 43,578 shares of the stock traded hands, compared to its average volume of 41,297. The firm has a market capitalization of $337.18 million, a price-to-earnings ratio of 3.67 and a beta of 0.56. The company's 50 day moving average is $26.49 and its 200-day moving average is $27.03. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $37.00.
Mesabi Trust Dividend Announcement
The company also recently announced 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. This represents a yield of 8.05%. The ex-dividend date was Wednesday, April 30th. Mesabi Trust's dividend payout ratio is presently 31.46%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut shares of Mesabi Trust from a "buy" rating to a "hold" rating in a research report on Saturday.
Get Our Latest Report on MSB
Hedge Funds Weigh In On Mesabi Trust
A hedge fund recently raised its stake in Mesabi Trust stock. Royal Bank of Canada increased its position in Mesabi Trust (NYSE:MSB - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,662 shares of the mining company's stock after purchasing an additional 3,303 shares during the period. Royal Bank of Canada owned approximately 0.20% of Mesabi Trust worth $725,000 at the end of the most recent quarter.
About Mesabi Trust
(
Get Free Report)
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.
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