Mesabi Trust (NYSE:MSB) Stock Falls 0.7% – Here’s Why

Mesabi Trust (NYSE:MSB)’s stock price was down 0.7% on Monday. The stock traded as low as $17.00 and last traded at $17.1250. Approximately 25,721 shares were traded during trading, a decline of 49% from the average daily volume of 50,546 shares. The stock had previously closed at $17.25.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Mesabi Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Mesabi Trust Stock Up 0.3%

The firm has a market capitalization of $226.32 million, a price-to-earnings ratio of 35.20 and a beta of 0.46. The company has a fifty day moving average price of $19.53 and a two-hundred day moving average price of $25.86.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, September 11th. The mining company reported ($0.01) EPS for the quarter. Mesabi Trust had a net margin of 54.46% and a return on equity of 33.50%. The business had revenue of $2.48 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MSB. Steinberganna Wealth Management increased its position in Mesabi Trust by 8.8% in the 3rd quarter. Steinberganna Wealth Management now owns 11,390 shares of the mining company’s stock valued at $223,000 after acquiring an additional 925 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Mesabi Trust by 10.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 15,734 shares of the mining company’s stock worth $496,000 after purchasing an additional 1,437 shares during the period. Royal Bank of Canada lifted its holdings in shares of Mesabi Trust by 20.2% during the first quarter. Royal Bank of Canada now owns 51,116 shares of the mining company’s stock worth $1,611,000 after purchasing an additional 8,588 shares during the period. Bank of New York Mellon Corp grew its position in Mesabi Trust by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 100,198 shares of the mining company’s stock valued at $3,156,000 after buying an additional 7,230 shares during the last quarter. Finally, Sei Investments Co. grew its position in Mesabi Trust by 100.0% in the 1st quarter. Sei Investments Co. now owns 167,766 shares of the mining company’s stock valued at $5,285,000 after buying an additional 83,883 shares during the last quarter.

About Mesabi Trust

Mesabi Trust (NYSE:MSB) is a royalty trust that holds interests in certain iron ore properties on Minnesota’s Mesabi Iron Range. The trust does not operate mines or processing facilities itself. Instead, it receives royalty payments tied primarily to the production and sale of iron ore products from the properties in which it holds an interest. Mesabi Trust’s interests are associated with the Peter Mitchell Mine near Babbitt, Minnesota, and related iron ore processing operations in the region. The mine produces taconite, a lower-grade iron ore that is processed into iron ore pellets for use in steelmaking.