Mesabi Trust (NYSE:MSB) Rating Lowered to “Buy” at StockNews.com

Mesabi Trust (NYSE:MSB) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Mesabi Trust Stock Up 3.1 %

Shares of Mesabi Trust stock opened at $28.92 on Monday. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $37.00. The business’s fifty day moving average is $26.85 and its two-hundred day moving average is $26.88. The firm has a market cap of $379.43 million, a PE ratio of 4.13 and a beta of 0.66.

Mesabi Trust (NYSE:MSB) last released its earnings results on Thursday, April 24th. The mining company reported $0.46 earnings per share for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%. The firm had revenue of $6.85 million for the quarter.

Hedge Funds Weigh In On Mesabi Trust

Several hedge funds and other institutional investors have recently modified their holdings of MSB. Golden State Wealth Management LLC increased its position in Mesabi Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Atlas Wealth Partners LLC purchased a new position in shares of Mesabi Trust in the 4th quarter valued at $202,000. Heron Bay Capital Management purchased a new position in shares of Mesabi Trust in the 4th quarter valued at $204,000. Ameriprise Financial Inc. acquired a new position in shares of Mesabi Trust during the 4th quarter valued at $205,000. Finally, Bank of Montreal Can purchased a new stake in Mesabi Trust during the 4th quarter worth $208,000.

Mesabi Trust Company Profile

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. Mesabi Trust was founded in 1961 and is based in New York, New York.