Mesabi Trust (NYSE:MSB) Downgraded to "Buy" Rating by StockNews.com

Mesabi Trust (NYSE:MSB - Get Free Report) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Monday.

Mesabi Trust Trading Up 1.7 %

MSB traded up $0.47 during trading on Monday, reaching $27.77. The stock had a trading volume of 44,506 shares, compared to its average volume of 38,997. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The company has a market capitalization of $364.36 million, a price-to-earnings ratio of 3.96 and a beta of 0.66. The stock's 50 day moving average is $26.81 and its two-hundred day moving average is $26.90.

Mesabi Trust (NYSE:MSB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $0.46 earnings per share (EPS) for the quarter. The company had revenue of $6.85 million during the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Institutional Investors Weigh In On Mesabi Trust

Hedge funds have recently added to or reduced their stakes in the stock. Pecaut & CO. raised its position in shares of Mesabi Trust by 2.9% in the 1st quarter. Pecaut & CO. now owns 33,809 shares of the mining company's stock worth $912,000 after purchasing an additional 966 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Mesabi Trust by 5.5% during the 1st quarter. Apollon Wealth Management LLC now owns 16,015 shares of the mining company's stock valued at $436,000 after purchasing an additional 831 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Mesabi Trust by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 77,213 shares of the mining company's stock worth $2,100,000 after buying an additional 1,127 shares during the last quarter. Essex Financial Services Inc. lifted its stake in shares of Mesabi Trust by 16.8% in the first quarter. Essex Financial Services Inc. now owns 14,261 shares of the mining company's stock worth $388,000 after buying an additional 2,055 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Mesabi Trust by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company's stock valued at $27,000 after buying an additional 500 shares during the last quarter.

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.