Mesabi Trust (NYSE:MSB) Rating Lowered to Hold at StockNews.com

Mesabi Trust (NYSE:MSB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Mesabi Trust Stock Performance

MSB stock traded down $0.40 during trading on Monday, hitting $16.69. The company had a trading volume of 24,307 shares, compared to its average volume of 26,573. The business has a 50-day moving average of $17.30 and a 200-day moving average of $17.42. Mesabi Trust has a one year low of $15.93 and a one year high of $22.39.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Thursday, June 13th. The mining company reported $0.27 EPS for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The business had revenue of $6.25 million for the quarter.

Hedge Funds Weigh In On Mesabi Trust

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. lifted its holdings in shares of Mesabi Trust by 5.4% in the 1st quarter. NBC Securities Inc. now owns 16,670 shares of the mining company’s stock worth $295,000 after purchasing an additional 860 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Mesabi Trust by 38.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,760 shares of the mining company’s stock worth $220,000 after acquiring an additional 2,961 shares during the last quarter. Beddow Capital Management Inc. increased its holdings in Mesabi Trust by 0.7% in the 2nd quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after acquiring an additional 3,028 shares during the last quarter. Pecaut & CO. increased its holdings in Mesabi Trust by 22.6% in the 2nd quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Mad River Investors boosted its stake in Mesabi Trust by 2.0% in the 2nd quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock worth $5,025,000 after purchasing an additional 5,809 shares during the period.

About Mesabi Trust

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