Mesabi Trust (NYSE:MSB) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Mesabi Trust (NYSE:MSB)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $30.58 and traded as high as $36.89. Mesabi Trust shares last traded at $36.02, with a volume of 36,061 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Mesabi Trust in a report on Monday. 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 Trading Down 0.2%

The business has a fifty day moving average price of $34.04 and a two-hundred day moving average price of $30.58. The firm has a market capitalization of $472.58 million, a PE ratio of 27.50 and a beta of 0.62.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Friday, December 12th. The mining company reported $0.21 EPS for the quarter. The company had revenue of $3.39 million for the quarter. Mesabi Trust had a net margin of 82.80% and a return on equity of 79.30%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, October 30th were issued a $0.34 dividend. The ex-dividend date was Thursday, October 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.8%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.12. Mesabi Trust’s dividend payout ratio (DPR) is currently 103.82%.

Institutional Trading of Mesabi Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Horizon Kinetics Asset Management LLC lifted its stake in Mesabi Trust by 2.0% during the second quarter. Horizon Kinetics Asset Management LLC now owns 2,960,590 shares of the mining company’s stock worth $70,936,000 after purchasing an additional 58,895 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Mesabi Trust by 351.2% in the second quarter. Advisory Services Network LLC now owns 181,347 shares of the mining company’s stock valued at $4,345,000 after buying an additional 141,159 shares in the last quarter. EagleClaw Capital Managment LLC raised its holdings in shares of Mesabi Trust by 1.1% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 167,425 shares of the mining company’s stock valued at $4,901,000 after buying an additional 1,800 shares during the period. CWA Asset Management Group LLC acquired a new position in Mesabi Trust during the 3rd quarter worth about $4,653,000. Finally, Redhawk Wealth Advisors Inc. lifted its stake in Mesabi Trust by 13.4% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 38,711 shares of the mining company’s stock worth $1,122,000 after acquiring an additional 4,579 shares in the last quarter.

About Mesabi Trust

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.