Mesabi Trust rises 27.8%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2024
0mins
- Stock Performance: Mesabi Trust has experienced a significant increase of 27.8%, rising by $4.66 to reach a price of $21.42.
- Market Context: This performance is noted within the context of data available up to October 2023.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy MSB?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on MSB
About MSB
Mesabi Trust is a royalty trust organized to derive income from an iron mine (the Peter Mitchell Mine) located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The Trust is a pass-through entity. It operates in one segment, which is iron ore mining. The mine is operated by Northshore Mining Company (Northshore), a subsidiary of Cleveland-Cliffs Inc. (CCI). Northshore mines the ore, which is in the form of taconite, a hard rock containing approximately 21% recoverable iron, crushes it, separates the iron particles from the non-metallic, and forms the resulting concentrate into pellets which are shipped for use in steel-producing blast furnaces of customers of CCI. Northshore pays royalties to the Trust primarily based on the selling price of pellets shipped from Northshore’s pellet plant at Silver Bay, Minnesota, on Lake Superior approximately 45 miles from the mine, plus a significantly smaller royalty based on tons of ore extracted at the mine.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Mesabi Trust (MSB) Declares $0.26 Quarterly Dividend Payable February 20
- Quarterly Dividend Announcement: Mesabi Trust declares a $0.26 per share dividend, reflecting the company's ongoing cash flow and profitability, which is likely to attract more investor interest.
- Record Date for Shareholders: The record date for this dividend is set for January 30, meaning investors holding shares before this date will qualify for the dividend, enhancing short-term shareholder confidence.
- Ex-Dividend Date Arrangement: The ex-dividend date is also set for January 30, requiring investors to purchase shares before this date to receive the dividend, which may lead to increased trading activity leading up to this date.
- Payment Date Confirmation: The dividend will be paid on February 20, ensuring shareholders receive their returns promptly, further solidifying the company's reputation in the capital markets.
Continue Reading
Mesoblast Receives FDA Feedback for BLA Filing of rexlemestrocel-L
- FDA Feedback: Mesoblast has received feedback from the FDA regarding its allogeneic cell therapy product, rexlemestrocel-L, indicating plans to file a Biologics License Application (BLA), marking a significant advancement in chronic discogenic low back pain treatment.
- Clinical Trial Results: In the MSB-DR003 randomized controlled Phase 3 trial, the FDA acknowledged the efficacy of rexlemestrocel-L in reducing chronic low back pain, with significant pain intensity reduction observed at 12 months, potentially supporting product efficacy.
- Labeling Update: The FDA noted that robust results on opioid use reduction from at least one adequate and well-controlled trial could be included in the Clinical Studies section of the product labeling, enhancing market competitiveness.
- RMAT Designation: rexlemestrocel-L has been designated as a Regenerative Medicine Advanced Therapy (RMAT) by the FDA, providing all the benefits of Breakthrough and Fast Track programs, including rolling review and priority review eligibility, further accelerating the path to market.
Continue Reading