Mesabi Trust (NYSE:MSB) Posts Earnings Results

Mesabi Trust (NYSE:MSB) issued its quarterly earnings data on Friday. The mining company reported $5.97 earnings per share for the quarter, Zacks reports. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Mesabi Trust Trading Down 1.1 %

Shares of MSB opened at $26.04 on Friday. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $28.69. The stock has a fifty day moving average price of $25.75 and a 200-day moving average price of $20.85.

Mesabi Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, October 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.99%. Mesabi Trust’s dividend payout ratio is presently 115.56%.

Analyst Upgrades and Downgrades

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

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.