Mesabi Trust (MSB) Issues Earnings Results
Mesabi Trust (NYSE:MSB) announced its quarterly earnings data on Thursday. The mining company reported $1.00 earnings per share for the quarter, Bloomberg Earnings reports. Mesabi Trust had a net margin of 93.14% and a return on equity of 179.33%. The company had revenue of $13.36 million during the quarter.
Mesabi Trust (MSB) traded up 3.53% during midday trading on Friday, hitting $16.15. 47,297 shares of the stock traded hands. Mesabi Trust has a 12-month low of $8.05 and a 12-month high of $17.42. The firm has a market cap of $211.89 million, a P/E ratio of 15.80 and a beta of 0.34. The company’s 50-day moving average is $14.82 and its 200 day moving average is $14.48.
The firm also recently declared a quarterly dividend, which was paid on Sunday, August 20th. Stockholders of record on Sunday, July 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $0.64 annualized dividend and a dividend yield of 3.96%. Mesabi Trust’s dividend payout ratio is currently 62.75%.
Separately, TheStreet lowered shares of Mesabi Trust from a “b-” rating to a “c+” rating in a report on Monday, August 7th.
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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