Mesabi Trust (NYSE:MSB) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Mesabi Trust (NYSE:MSB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.29 and traded as high as $36.66. Mesabi Trust shares last traded at $36.17, with a volume of 38,130 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, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Mesabi Trust has a consensus rating of “Hold”.

Mesabi Trust Stock Up 1.4%

The firm has a fifty day moving average price of $36.19 and a two-hundred day moving average price of $33.29. The stock has a market capitalization of $474.55 million, a P/E ratio of 27.61 and a beta of 0.55.

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

Mesabi Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, January 30th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, January 30th. Mesabi Trust’s dividend payout ratio is currently 79.39%.

Hedge Funds Weigh In On Mesabi Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in Mesabi Trust in the 3rd quarter valued at approximately $28,000. NewEdge Advisors LLC raised its stake in shares of Mesabi Trust by 57.3% in the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after purchasing an additional 587 shares during the last quarter. Colonial Trust Advisors purchased a new position in shares of Mesabi Trust in the third quarter worth $44,000. Acadian Asset Management LLC bought a new position in shares of Mesabi Trust during the first quarter valued at $44,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Mesabi Trust by 73.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock valued at $57,000 after buying an additional 630 shares during 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.