The stock of Mesabi Trust (NYSE:MSB) is a huge mover today! The stock increased 6.91% or $0.75 on November 23, hitting $11.6. About 57,264 shares traded hands or 49.73% up from the average. Mesabi Trust (NYSE:MSB) has risen 28.91% since April 22, 2016 and is uptrending. It has outperformed by 23.50% the S&P500.
The move comes after 6 months positive chart setup for the $155.82 million company. It was reported on Nov, 24 by Barchart.com. We have $11.95 PT which if reached, will make NYSE:MSB worth $4.67 million more.
Analysts await Mesabi Trust (NYSE:MSB) to report earnings on December, 13.
According to Zacks Investment Research, “MESABI TRUST Trustee holds for benefit of holders of units of beneficial interest all royalties from certain interests in taconite ore properties in Mesabi range in Minnesota which have been leased to Reserve Mining Co., free of Federal income tax. Mesabi Trust distributes royalties to holders who pay income tax after credit for depletion allowance. Principal Functionary: Trust has no officers. Certain administrative functions are performed by Bankers Trust Co., the Corporate Trustee.”
Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.71, from 0.29 in 2016Q1. The ratio increased, as 7 funds sold all Mesabi Trust shares owned while 10 reduced positions. 1 funds bought stakes while 4 increased positions. They now own 1.65 million shares or 6.97% less from 1.78 million shares in 2016Q1.
Creative Planning accumulated 2,000 shares or 0% of the stock. Hudock Capital Limited Liability Company last reported 548 shares in the company. Da Davidson holds 12,975 shares or 0% of its portfolio. Royal Savings Bank Of Canada holds 2,500 shares or 0% of its portfolio. Us National Bank & Trust De has 0% invested in the company for 200 shares. Morgan Stanley accumulated 8,000 shares or 0% of the stock. Moreover, Beddow Capital Mngmt Incorporated has 2.44% invested in Mesabi Trust (NYSE:MSB) for 546,615 shares. Wells Fargo Com Mn has 0% invested in the company for 53,480 shares. California Public Employees Retirement System has 48,200 shares for 0% of their US portfolio. Freestone Cap Ltd Llc accumulated 260,169 shares or 0.27% of the stock. Winslow Evans Crocker last reported 152 shares in the company. Wfg Advsrs Limited Partnership accumulated 0% or 1,500 shares. Deutsche National Bank & Trust Ag holds 0% or 3,010 shares in its portfolio. Fincl Bank Of America Corporation De owns 116,503 shares or 0% of their US portfolio. Sfe Counsel holds 1.54% or 308,355 shares in its portfolio.
More notable recent Mesabi Trust (NYSE:MSB) news were published by: Fool.com which released: “Wall Street Loves Mesabi Trust. Should You?” on February 05, 2013, also Reuters.com with their article: “BRIEF-Mesabi Trust on Oct 27 trustees received quarterly royalty report of…” published on November 01, 2016, Seekingalpha.com published: “The Market Fails To Recognize Option Value Of Mesabi Trust’s Royalty Income” on September 09, 2016. More interesting news about Mesabi Trust (NYSE:MSB) were released by: Streetinsider.com and their article: “Form 8-K MESABI TRUST For: Oct 14” published on October 17, 2016 as well as Investorplace.com‘s news article titled: “Trust in Mining Company Mesabi Trust For Fantastic Returns” with publication date: January 20, 2012.
MSB Company Profile
Mesabi Trust, incorporated in 1961, is a royalty trust. The purpose of the Trust is to conserve and protect the Trust Estate. The Trust operates in the iron ore mining segment. The Trust derives income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The lessee/operator of Mesabi Trust’s mineral interests is Northshore Mining Corporation (NMC), a subsidiary of Cliffs Natural Resources Inc. (Cliffs). NMC produces iron ore from Mesabi Trust Lands for the manufacture of iron ore products to be sold to various clients of Cliffs. Mesabi Trust receives royalties on the crude ore extracted from such lands and the pellets produced from such crude ore.
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