Mesabi Trust (NYSE:MSB) Short Interest Down 16.4% in February

Mesabi Trust (NYSE:MSB) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 120,938 shares, a drop of 16.4% from the January 29th total of 144,627 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 46,961 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 46,961 shares, the short-interest ratio is presently 2.6 days. Currently, 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mesabi Trust in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Trading of Mesabi Trust

Several institutional investors have recently made changes to their positions in the company. CWA Asset Management Group LLC purchased a new stake in Mesabi Trust during the third quarter worth about $4,653,000. Advisory Services Network LLC increased its stake in shares of Mesabi Trust by 351.2% during the 2nd quarter. Advisory Services Network LLC now owns 181,347 shares of the mining company’s stock worth $4,345,000 after purchasing an additional 141,159 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of Mesabi Trust by 2.0% in the 2nd 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 during the period. Corient Private Wealth LLC bought a new stake in shares of Mesabi Trust in the 4th quarter worth approximately $1,483,000. Finally, Verdad Advisers LP purchased a new position in Mesabi Trust in the fourth quarter valued at approximately $754,000.

Mesabi Trust Trading Up 2.4%

Shares of NYSE:MSB traded up $0.74 on Wednesday, hitting $31.46. The company had a trading volume of 11,595 shares, compared to its average volume of 52,826. The stock has a market cap of $412.76 million, a price-to-earnings ratio of 24.02 and a beta of 0.56. The stock has a 50 day moving average price of $35.87 and a 200 day moving average price of $33.79. Mesabi Trust has a 1-year low of $22.55 and a 1-year high of $42.38.

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

Mesabi Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, January 30th. Mesabi Trust’s dividend payout ratio (DPR) is 79.39%.

Mesabi Trust Company Profile

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.