Mesabi Trust (NYSE:MSB) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a report issued on Monday.

Shares of Mesabi Trust (MSB) opened at 15.05 on Monday. The stock has a 50 day moving average of $13.65 and a 200 day moving average of $14.40. Mesabi Trust has a 1-year low of $8.05 and a 1-year high of $17.42. The company has a market cap of $197.46 million, a price-to-earnings ratio of 14.73 and a beta of 0.35.

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An institutional investor recently bought a new position in Mesabi Trust stock. Opus Capital Group LLC purchased a new position in shares of Mesabi Trust (NYSE:MSB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,000 shares of the mining company’s stock, valued at approximately $232,000. Opus Capital Group LLC owned approximately 0.13% of Mesabi Trust as of its most recent filing with the SEC. Hedge funds and other institutional investors own 16.45% of the company’s stock.

Mesabi Trust Company Profile

Mesabi Trust is a royalty trust. The purpose of the Trust is to conserve and protect the Trust Estate. The Trust operates in the iron ore mining segment. The Trust derives income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The lessee/operator of Mesabi Trust’s mineral interests is Northshore Mining Corporation (NMC), a subsidiary of Cliffs Natural Resources Inc (Cliffs).

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