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Mesabi TrustNYSE:MSB Aktienübersicht

Marktkapitalisierung US$382.7m
Aktienkurs
US$30.13
US$21.43
40.6% überbewertet intrinsischer Abschlag
1Y19.6%
7D5.5%
Wert des Portfolios
​
Siehe

Mesabi Trust

NYSE:MSB Lagerbericht

Marktkapitalisierung: US$382.7m

Mesabi Trust (MSB) Aktienübersicht

Mesabi Trust, eine Treuhandgesellschaft, ist im Eisenerzabbau in den Vereinigten Staaten tätig. Mehr Details

MSB grundlegende Analyse
Schneeflocken-Punktzahl
Bewertung1/6
Künftiges Wachstum0/6
Vergangene Leistung3/6
Finanzielle Gesundheit6/6
Dividenden2/6

Risikoanalyse

Die Dividende von 4.25% ist nicht gut durch Erträge oder freie Cashflows gedeckt

Die Gewinnspannen (79.1%) sind niedriger als im Vorjahr


MSB Community Fair Values

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Mesabi Trust Wettbewerber

Preisentwicklung & Leistung

Zusammenfassung der Höchst- und Tiefststände sowie der Veränderungen der Aktienkurse für Mesabi Trust
Historische Aktienkurse
Aktueller AktienkursUS$30.13
52-Wochen-HochUS$42.38
52-Wochen-TiefUS$22.55
Beta0.31
1 Monat Veränderung-6.95%
3 Monate Veränderung-11.46%
1 Jahr Veränderung19.56%
3 Jahre Veränderung54.99%
5 Jahre Veränderung-22.06%
Veränderung seit IPO151.08%

Aktuelle Nachrichten und Updates

Seeking Alpha • Apr 07

Mesabi Trust: Logistics Could Favor U.S. Iron Ore Supply

Summary Mesabi Trust stands to benefit from possible global iron ore supply disruptions, particularly in Australia, potentially supporting higher prices and volumes. Q4 royalty income for MSB is rising ~45% sequentially, implying a 23x annualized P/E based on likely disclosures. Supply risks from the Iran War and Australian logistics issues could underpin a higher iron ore price base into 2026, already being demonstrated. At a possible 20x P/E, MSB offers a 5% earnings yield, but diversified mining groups may provide better risk-adjusted returns given current market conditions. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Apr 07

Mesabi Trust: Logistics Could Favor U.S. Iron Ore Supply

Summary Mesabi Trust stands to benefit from possible global iron ore supply disruptions, particularly in Australia, potentially supporting higher prices and volumes. Q4 royalty income for MSB is rising ~45% sequentially, implying a 23x annualized P/E based on likely disclosures. Supply risks from the Iran War and Australian logistics issues could underpin a higher iron ore price base into 2026, already being demonstrated. At a possible 20x P/E, MSB offers a 5% earnings yield, but diversified mining groups may provide better risk-adjusted returns given current market conditions. Read the full article on Seeking Alpha
Seeking Alpha • Jan 17

Mesabi Trust: Volume Recovery Means Royalty Rates Ratchet Up

Summary Mesabi Trust's revenues are rising due to increased production and higher royalty rates. The arbitration award boosted MSB's stock by 20%, but this is a one-off event. Normalized P/E (ignoring price effects from the arbitration) is 13-14x. This gives us an idea of earnings yield, the inverse of the PE, on a run-rate basis to compare with peers, fair between 10-15x. But MSB faces risks from Chinese economic issues, most alarmingly deflation spiral, and potential US tariffs affecting iron ore demand. Nearshoring and US steel production could boost MSB, but current volatility and unpredictable factors make it less appealing for investment. Read the full article on Seeking Alpha
Seeking Alpha • Sep 24

Mesabi Trust: Cleveland-Cliffs Spat In Rear View For Now

Summary The idling issue has now lapped for the three-month results, but the clear hit to commodity prices YoY is driving down royalties as well as some hit to volumes. The mines operated on Mesabi land by Cliffs are swing production, meaning they're at the margin of production. They're the first to get cut when rationalising. We are quite bullish on US fundamentals, thanks mainly to oil price declines, but around China's effect as a major importer of iron ore, we're less confident in their stimulus. Read the full article on Seeking Alpha
Seeking Alpha • May 28

If Fed Doesn't Get Serious About Inflation, Buy Mesabi Trust (Rating Upgrade)

Summary Recent developments, such as the mid-2023 resumption of mining operations by Cleveland-Cliffs on trust leases and the Federal Reserve's reluctance to raise interest rates, suggest potential upside for Mesabi. Increasing odds for a turnaround in China's economy, alongside an approaching arbitration judgment over underpaid royalties, are additional reasons to consider investing in MSB stock. A low-volatility basing pattern over the last 12 months could support a price breakout and material gains for investors buying around $17. Read the full article on Seeking Alpha
Seeking Alpha • Feb 04

Mesabi Trust: Full Production Is Back Despite Cleveland-Cliffs' Ambitions

Summary Mesabi Trust announces $0.37 quarterly dividend and Cleveland-Cliffs Inc. holds Q4 earnings call. Cleveland-Cliffs CEO threatens to use more scrap metal, but Mesabi Trust's production looks to be back to full capacity. Mesabi Trust offers a 7.2% forward yield with potential for higher dividends if iron ore prices increase. Read the full article on Seeking Alpha
Seeking Alpha • Oct 25

Mesabi Trust: Unlikely Cleveland-Cliffs Shuts Northshore Down In The Near Term

Summary Mesabi Trust's near-term value depends on the actions of Cleveland-Cliffs Inc., which operates the Northshore iron ore mine. Cleveland-Cliffs idled the Northshore mine in 2022 and restarted it in Q2 2023, but CEO Goncalves has threatened to use it as a swing operation. Northshore is not likely to be shut down soon, as Cleveland-Cliffs is faced with robust demand and may want to safeguard its reputation while pursuing acquisitions in steel making. Read the full article on Seeking Alpha
Seeking Alpha • Oct 18

Mesabi Trust Looks Attractive With Estimated Forward Yield Of 8.2% To 11.4%

Summary Mesabi Trust distributions were scrapped because Cleveland-Cliffs temporarily idled its mine. Iron ore demand could benefit from China's construction sector stimulus. Normalized annualized distributions per unit from Mesabi Trust could be as high as $2.8. Read the full article on Seeking Alpha
Seeking Alpha • Jul 14

Mesabi Trust: There's A Strong Headwind, But Also An Opportunity

Summary Mesabi Trust, a New York-based royal trust involved in the Minnesota iron ore mining business, has been given a "Hold" recommendation due to uncertainty surrounding the business outlook. The trust's royalty income has been negatively impacted by Cleveland-Cliffs' decision to close its Northshore taconite ore operation in May 2022 and by a downward trend in the price of iron ore. A dispute between Cleveland-Cliffs and Mesabi Trust over the payment of the royalties, a potential recession, and the suspension of dividends are all factors contributing to the "Hold" rating. Read the full article on Seeking Alpha
Seeking Alpha • Jan 31

Operating Issues And Recession Pricing Next: Avoid Mesabi Trust

Summary Mesabi Trust has been a great investment for decades with steady price appreciation and a high rate of dividends. The temporary closure of its main resource asset by a mining unit of Cleveland-Cliffs has halted nearly all royalty revenue. Few net assets exist to back up Mesabi's underlying value until the Peter Mitchell mine is restarted. Dividends have been slashed to zero. Then a recession could hit in 2023-24, hurting iron ore pricing and future discounted values of royalty payments. The chart pattern remains weak. I suggest selling the January rally in trust pricing.
Seeking Alpha • Jan 12

Mesabi Trust says no dividend in January

Mesabi Trust (NYSE:MSB) on Thursday said its trustees have determined that no distribution will be declared in January 2023 with respect to units of beneficial interest. The trustees said the announcement reflects caution about uncertainties arising from the July 22, 2022 announcement by Cleveland-Cliffs, the parent company of Northshore Mining, to extend the ongoing idling of Northshore operations until at least April 2023 and maybe beyond.
Seeking Alpha • Nov 05

Mesabi Trust: Short-Term This Doesn't Look Great, Long-Term I Like

Summary Mesabi Trust is a yield vehicle that has recently paused its yield. The operator of the Northshore facility has shut it down temporarily. As long as the operator doesn't restart the mine, there are unlikely to be any payouts. Long-term payouts should be highly attractive provided the mine commences operation again. The shutdown was planned to last until March 2023 but could run longer. Mesabi Trust (MSB) is a pass-through royalty vehicle that takes a cut on the production of an iron ore mine and distributes it to shareholders. Otherwise, it doesn't do much. Currently, it doesn't do much as Cleveland-Cliffs (CLF), which operates the Northshore operation, decided to idle it until at least April 2023. But the operator included a thinly veiled threat within its decision to keep it shut for longer. The outspoken CEO of the operator also referenced the ridiculous royalty structure in place: …with the use of additional scrap in our BOF's [basic oxygen furnaces], our iron ore needs are not as high as before, and we no longer need to run our mines full out. When determining where to adjust production, our first look is at our cost structure. Because we are now able to produce DR-grade pellets at Minorca, and mainly due to the ridiculous royalty structure we have in place with the Mesabi Trust, we will be idling all production at our Northshore mine, starting in the Spring, carrying through at least to the Fall period, and maybe beyond. At Northshore, no production, no shipments, no royalty payments. We also acknowledge that our strategy to stretch hot metal, by adding increased amounts of scrap to the BOF's is working extremely well. With more scrap in the BOF's, we need fewer tons of hot metal to produce the same tonnage of liquid steel. As a consequence, the Northshore idle could go longer than currently planned." According to Mesabi, there's been no outreach over that agreement: Cliffs has not recently requested any changes to the royalty structure, which is governed by a 1989 royalty agreement, and Cliffs has historically failed to engage in meaningful negotiations requested by Mesabi Trust to address the interpretations of the royalty structure. Finally, since Cliffs' announcements that began in October 2021, Mesabi Trust has not received requests from Cliffs or any other party to discuss renegotiation of the 1989 royalty agreement. This is a yield vehicle. Something income-seeking investors tend to buy. Not surprisingly, it has come off quite a bit since CLF decided to idle the mine, although I would have expected it to fall even more. Data by YCharts Currently, it is trading at around $22, and there's no distribution. I don't expect it to be reinstated until there is more clarity on the situation of the mine in the future. Here's an overview of historical dividends: MSB dividend history (Seeking Alpha) You have to go back to 2017 to see distribution dip below $2 per unit. This kind of vehicle trades at high yields and low multiples because they are liquidating vehicles with no or little residual value. As the mine runs out, the value of the royalty goes to zero as well. The Northshore mine has ample reserves. See this table from its 10-K: Mining and Pelletizing Mineral Reserves As of December 31, 2021 (In Millions of Long Tons) Proven Probable Proven & Probable Cliffs' % % % Process Property Share Tonnage Grade Tonnage Grade Tonnage Grade(1) Recovery(2) Northshore 100% 303.2 25.3 519.2 24.1 822.4 24.6 29.4% (1) Cutoff grade was 19%. (2) Process recovery includes all factors for converting crude ore tonnage, shown above, to a dry saleable product. Annual production is something like 6 million tonnes. Given the reserves picture, the mine life is still very, very long. It's also possible over time, tonnes are added to reserves as discoveries or improved technology that allow more economic extraction.
Seeking Alpha • Aug 03

How Cleveland-Cliffs' CEO Pushed Mesabi Trust's Dividend Off A Cliff

Cleveland-Cliffs' CEO Lourenco Goncalves has a bone to pick with the Mesabi Trust. Cleveland-Cliffs' recent acquisitions have degraded Mesabi Trust's economic leverage within their relationship. With the Northshore mine shut down until April 2022, Mesabi's distribution is about to jump off a Cliff. The just published royalty report confirms that a massive cut to trust income has taken place. Given these facts, Mesabi Trust’s unit price is too high - I see 50% downside risk. Mesabi Trust (MSB) is a publicly traded entity that owns a royalty interest in the Peter Mitchel iron ore mine that is operated by Cleveland-Cliffs' (CLF) Northshore facility. This current article could be viewed as an update on my bullish article published nearly five years ago here at Seeking Alpha. A thorough review of the trust can be found in this article by James Duade - the first of a series of excellent articles that he wrote on the trust. Today, the situation is much changed Unfortunately for Mesabi's unitholders, Cleveland-Cliffs' CEO Lourenco Goncalves has a bone to pick with the Mesabi Trust. He does not like the trust’s royalty structure and (more importantly - thanks to recent acquisitions) has no immediate need for Mesabi’s iron ore. This is a radical departure from the past, when Northshore (and Mesabi’s ore) was a key asset needed to fulfill customer contracts. As CEO Goncalves stated in the last Cleveland-Cliffs’ earnings call: ...we are now extending the ongoing idle at our North Shore swing facility to at least April of next year. With the increased use of scrap company-wide in our steelmaking operations made possible by the acquisition of FPT last year, the pellets from North Shore are not needed at this time. Rather than deplete this finite resource for the benefit of the Mesabi Trust and its so-called unitholders we will keep Northshore idle until we decide otherwise. Mesabi Trust filed an 8-K related to the above (and earlier) statements by Goncalves, which can be found here. This is much worse than what I originally anticipated based on his earlier comments, as I tweeted in February: My note on Lourenco's earlier comment (Nat Stewart's twitter account @natstewart5) A shutdown until April will blow a massive hole in Mesabi’s next three distributions This is because Mesabi’s distributions correspond with Cliff’s prior quarter earnings - there is a three month lag. Up until this point, Mesabi unitholders have not been impacted by the shutdown. This will change with the next three distributions. Last year, the October distribution was substantial Mesabi Distributions: 10/22/2021, 1/27/2022, 4/28/2022 (Dividend History - Mesabi Trust) The current royalty report confirms that this October will be much worse The royalty report published yesterday (8/2/2022) confirms the above facts. Last year, the trust received $19,495,040 for Cliff's second quarter production - enough to support October 2021's large $1.42 distribution. This year, they received just $2,314,994 for the same period. After a $.04 estimate for trust expenses (assuming they choose to pay out proceeds and maintain current reserve levels) this trust will have around $.13/unit ($2.314M / 13.12 units - $.04) from the current period available for distributions - suggesting a 91% year-over-year distribution cut.
Seeking Alpha • Jul 15

Mesabi Trust dips dividend -19.2% to $0.84/share

Mesabi Trust (NYSE:MSB) declares $0.84/share quarterly dividend, -19.2% decrease from prior dividend of $1.04. Forward yield 12.64% Payable Aug. 20; for shareholders of record July 30; ex-div July 29. See MSB Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jun 03

Mesabi Trust Is Not So Easily Ousted

They earn royalties on iron ore mined from one of Cleveland-Cliffs' main mines. Cleveland-Cliffs is trying to put a strain on Mesabi by idling mining as much as possible at the main Minnesota mine where Mesabi has the royalty agreement. Cleveland-Cliffs complained on earnings call about the royalty structure but hasn't tried to renegotiate it before making this move. We think investors should call Cliffs' bluff by buying Mesabi, because Cliffs has been CAPEXing a lot on the Minnesota mine, and with iron ore prices being so high, you'd want to utilise the asset. This is a bargaining tactic that makes sense, but ultimately Mesabi's position seems favourable. Dividend yield could be as much as 20% on a forward basis.
Seeking Alpha • Jan 05

Mesabi Trust And Its Real Value

Mesabi Trust is benefiting from increases in revenue as iron ore prices rise and the volume of products mined from its property climbs. But those gains may be short-lived as the company that provides nearly all the trust’s royalty income is threatening to stop mining on the property. The company appears to be overvalued from a rearview mirror perspective, and future forecasts argue it could become even more overvalued if mining revenue decreases. This article tells what investors could likely make in the future with Mesabi Trust and what the real value is versus the current share price.
Analyseartikel • Oct 18

Mesabi Trust (NYSE:MSB) Will Pay A Larger Dividend Than Last Year At US$1.42

Mesabi Trust ( NYSE:MSB ) has announced that it will be increasing its dividend on the 20th of November to US$1.42...
Analyseartikel • Jul 16

Mesabi Trust's (NYSE:MSB) Upcoming Dividend Will Be Larger Than Last Year's

Mesabi Trust ( NYSE:MSB ) will increase its dividend on the 20th of August to US$0.09. This makes the dividend yield...
Analyseartikel • Apr 19

Something To Consider Before Buying Mesabi Trust (NYSE:MSB) For The 4.1% Dividend

Could Mesabi Trust ( NYSE:MSB ) be an attractive dividend share to own for the long haul? Investors are often drawn to...
Analyseartikel • Mar 01

Mesabi Trust (NYSE:MSB) Has Rewarded Shareholders With An Exceptional 511% Total Return On Their Investment

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Analyseartikel • Jan 23

Here's Why We're Wary Of Buying Mesabi Trust's (NYSE:MSB) For Its Upcoming Dividend

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...
Analyseartikel • Jan 18

Should Mesabi Trust (NYSE:MSB) Be Part Of Your Income Portfolio?

Dividend paying stocks like Mesabi Trust ( NYSE:MSB ) tend to be popular with investors, and for good reason - some...

Aktionärsrenditen

MSBUS Metals and MiningUS Markt
7D5.5%3.2%0.5%
1Y19.6%104.5%25.4%

Rendite im Vergleich zur Industrie: MSB unter dem Niveau der Branche US Metals and Mining , die im vergangenen Jahr eine Rendite von 104.5% erzielte.

Rendite vs. Markt: MSB hinter dem Markt US zurück, der im vergangenen Jahr eine Rendite von 25.4 erzielte.

Preisvolatilität

Is MSB's price volatile compared to industry and market?
MSB volatility
MSB Average Weekly Movement5.8%
Metals and Mining Industry Average Movement9.8%
Market Average Movement7.2%
10% most volatile stocks in US Market16.0%
10% least volatile stocks in US Market3.2%

Stabiler Aktienkurs: MSB hatte in den letzten 3 Monaten im Vergleich zum US -Markt keine signifikante Preisvolatilität.

Volatilität im Zeitverlauf: MSBDie wöchentliche Volatilität (6%) ist im vergangenen Jahr stabil geblieben.

Über das Unternehmen

GegründetMitarbeiterCEOWebsite
1961n/an/amesabi-trust.com

Mesabi Trust, eine Treuhandgesellschaft, ist im Eisenerzabbau in den Vereinigten Staaten tätig. Das Unternehmen wurde 1961 gegründet und hat seinen Sitz in New York, New York.

Mesabi Trust's Grundlagenzusammenfassung

Wie verhalten sich die Erträge und Einnahmen von Mesabi Trust im Vergleich zum Marktanteil des Unternehmens?
MSB grundlegende Statistiken
MarktanteilUS$382.71m
Gewinn(TTM)US$13.87m
Umsatz(TTM)US$17.52m
28.5x
Kurs-Gewinn-Verhältnis
22.6x
Kurs-Umsatz-Verhältnis

Ist MSB zu teuer?

Siehe Fair Value und Bewertungsanalyse

Erträge & Einnahmen

Wichtige Rentabilitätsstatistiken aus dem letzten Ergebnisbericht (TTM)
MSB Gewinn- und Verlustrechnung (TTM)
EinnahmenUS$17.52m
Kosten der EinnahmenUS$0
BruttogewinnUS$17.52m
Sonstige AusgabenUS$3.66m
GewinnUS$13.87m

Zuletzt gemeldete Gewinne

Jan 31, 2026

Datum des nächsten Gewinnberichts

k.A.

Gewinn per Aktie (EPS)1.06
Bruttomarge100.00%
Nettogewinnspanne79.14%
Schulden/Eigenkapital-Verhältnis0%

Wie hat sich MSB auf lange Sicht entwickelt?

Historische Performance und Vergleiche

Dividenden

4.2%
Aktuelle Dividendenrendite
121%
Ausschüttungsquote

Zahlt MSB eine zuverlässige Dividende?

Siehe MSB Dividendenhistorie und Benchmarks
Bis wann müssen Sie MSB kaufen, um eine kommende Dividende zu erhalten?
Mesabi Trust Dividendentermine
Ex-Dividenden DatumApr 30 2026
Datum der DividendenzahlungMay 20 2026
Tage bis Ex-Dividende14 days
Tage bis zum Datum der Dividendenzahlung6 days

Zahlt MSB eine zuverlässige Dividende?

Siehe MSB Dividendenhistorie und Benchmarks

Unternehmensanalyse und Finanzdaten Status

DatenZuletzt aktualisiert (UTC-Zeit)
Unternehmensanalyse2026/05/13 03:57
Aktienkurs zum Tagesende2026/05/13 00:00
Gewinne2026/01/31
Jährliche Einnahmen2026/01/31

Datenquellen

Die in unserer Unternehmensanalyse verwendeten Daten stammen von S&P Global Market Intelligence LLC. Die folgenden Daten werden in unserem Analysemodell verwendet, um diesen Bericht zu erstellen. Die Daten sind normalisiert, was zu einer Verzögerung bei der Verfügbarkeit der Quelle führen kann.

PaketDatenZeitrahmenBeispiel US-Quelle *
Finanzdaten des Unternehmens10 Jahre
  • Gewinn- und Verlustrechnung
  • Kapitalflussrechnung
  • Bilanz
Konsensschätzungen der Analysten+3 Jahre
  • Finanzielle Vorausschau
  • Kursziele der Analysten
Marktpreise30 Jahre
  • Aktienkurse
  • Dividenden, Splits und Aktionen
Eigentümerschaft10 Jahre
  • Top-Aktionäre
  • Insiderhandel
Verwaltung10 Jahre
  • Das Führungsteam
  • Direktorium
Wichtige Entwicklungen10 Jahre
  • Ankündigungen des Unternehmens

* Beispiel für US-Wertpapiere, für nicht-US-amerikanische Wertpapiere werden gleichwertige regulatorische Formulare und Quellen verwendet.

Sofern nicht anders angegeben, beziehen sich alle Finanzdaten auf einen Jahreszeitraum, werden aber vierteljährlich aktualisiert. Dies wird als Trailing Twelve Month (TTM) oder Last Twelve Month (LTM) Daten bezeichnet. Erfahren Sie mehr.

Analysemodell und Schneeflocke

Einzelheiten zu dem Analysemodell, mit dem dieser Bericht erstellt wurde, finden Sie auf unserer Github-Seite. Außerdem bieten wir Leitfäden zur Verwendung unserer Berichte und Tutorials auf YouTube an.

Erfahren Sie mehr über das Weltklasse-Team, das das Simply Wall St-Analysemodell entworfen und entwickelt hat.

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Unsere Branchen- und Sektionskennzahlen werden alle 6 Stunden von Simply Wall St berechnet. Details zu unserem Verfahren finden Sie auf Github.

Analysten-Quellen

Mesabi Trust wird von 0 Analysten beobachtet. 0 dieser Analysten hat die Umsatz- oder Gewinnschätzungen übermittelt, die als Grundlage für unseren Bericht dienen. Die von den Analysten übermittelten Daten werden im Laufe des Tages aktualisiert.