Mesabi Trust (NYSE:MSB) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Mesabi Trust (NYSE:MSB)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.33 and traded as high as $26.00. Mesabi Trust shares last traded at $25.72, with a volume of 17,864 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Mesabi Trust from a “buy” rating to a “hold” rating in a report on Monday, September 9th.

Mesabi Trust Stock Performance

The firm has a market cap of $337.45 million, a P/E ratio of 15.68 and a beta of 0.84. The firm has a fifty day moving average of $20.16 and a 200-day moving average of $18.33.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Thursday, September 5th. The mining company reported $0.41 EPS for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The firm had revenue of $6.49 million for the quarter.

Institutional Trading of Mesabi Trust

Several large investors have recently added to or reduced their stakes in MSB. Moors & Cabot Inc. increased its position in shares of Mesabi Trust by 28.3% during the 2nd quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock valued at $8,003,000 after purchasing an additional 102,520 shares during the period. Beddow Capital Management Inc. increased its position in shares of Mesabi Trust by 0.7% during the 2nd quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock valued at $7,966,000 after purchasing an additional 3,028 shares during the period. Mad River Investors increased its position in shares of Mesabi Trust by 2.0% during the 2nd quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock valued at $5,025,000 after purchasing an additional 5,809 shares during the period. OFI Invest Asset Management acquired a new position in shares of Mesabi Trust during the 2nd quarter valued at $576,000. Finally, Pecaut & CO. boosted its stake in shares of Mesabi Trust by 22.6% during 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 in the last quarter.

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.