Price: $17.5200
$0.15
0.864%
|
Day's High:
| $17.9
| Week Perf:
| -3.36 %
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Day's Low: |
$ 17.44 |
30 Day Perf: |
-4.83 % |
Volume (M): |
49 |
52 Wk High: |
$ 26.95 |
Volume (M$): |
$ 851 |
52 Wk Avg: |
$20.09 |
Open: |
$17.52 |
52 Wk Low: |
$16.68 |
|
|
Market Capitalization (Millions $) |
230 |
Shares
Outstanding (Millions) |
13 |
Employees |
1 |
Revenues (TTM) (Millions $) |
78 |
Net Income (TTM) (Millions $) |
75 |
Cash Flow (TTM) (Millions $) |
8 |
Capital Exp. (TTM) (Millions $) |
0 |
Mesabi Trust
Mesabi Trust (“Mesabi Trust” or the “Trust”), formed
pursuant to an Agreement of Trust dated July 18, 1961 (the “Agreement
of Trust”), is a trust organized under the laws of the State of New York.
Mesabi Trust holds all of the interests formerly owned by Mesabi Iron Company,
including all right, title and interest in the Amendment of Assignment, Assumption
and Further Assignment of Peters Lease (the “Amended Assignment of Peters
Lease”), the Amendment of Assignment, Assumption and Further Assignment
of Cloquet Lease (the “Amended Assignment of Cloquet Lease” and
together with the Amended Assignment of Peters Lease, the “Amended Assignment
Agreements”), the beneficial interest in in a trust organized under the
laws of the State of Minnesota to administer the Mesabi Fee Lands (as defined
below) as the trust corpus in compliance with the laws of the State of Minnesota
on July 18, 1961 (the “Mesabi Land Trust”) and all other assets
and property identified in the Agreement of Trust. The Amended Assignment of
Peters Lease relates to an Indenture made as of April 30, 1915 among East Mesaba
Iron Company (“East Mesaba”), Dunka River Iron Company (“Dunka
River”) and Claude W. Peters (the “Peters Lease”) and the
Amended Assignment of Cloquet Lease relates to an Indenture made May 1, 1916
between Cloquet Lumber Company and Claude W. Peters (the “Cloquet Lease”).
Pursuant to a ruling from the Internal Revenue Service, which ruling was based
on the terms of the Agreement of Trust including the prohibition against conducting
any business, the Trust is not taxable as a corporation for federal income tax
purposes. Instead, the holders of Certificates of Beneficial Interest in Mesabi
Trust (“Unitholders”) are considered “owners” of the
Trust and the Trust’s income is taxable directly to the Unitholders. The
Certificates of Beneficial Interest in Mesabi Trust are listed on the New York
Stock Exchange (“NYSE”) and is therefore subject to extensive regulation
under, among others, the Securities Act of 1933, the Securities Exchange Act
of 1934, the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”), each
as amended, and the rules and regulations of the NYSE.
·
Base overriding royalties. Base overriding royalties have historically constituted
the majority of Mesabi Trust’s royalty income. Base overriding royalties
are determined by both the volume and selling price of iron ore products shipped.
Northshore is obligated to pay Mesabi Trust base overriding royalties in varying
amounts, based on the volume of iron ore products shipped. Base overriding royalties
are calculated as a percentage of the gross proceeds of iron ore products produced
at Mesabi Trust Lands (and to a limited extent other lands) and shipped from
Silver Bay, Minnesota. The percentage ranges from 2-1/2% of the gross proceeds
for the first one million tons of iron ore products so shipped annually to 6%
of the gross proceeds for all iron ore products in excess of 4 million tons
so shipped annually. Base overriding royalties are subject to interim and final
price adjustments under the Cliffs Pellet Agreements and, as described elsewhere
in this report, such adjustments may be positive or negative.
Royalty bonuses. The Trust earns royalty bonuses when iron ore products shipped
from Silver Bay are sold at prices above a threshold price per ton. The royalty
bonus is based on a percentage of the gross proceeds of product shipped from
Silver Bay. The threshold price is adjusted (but not below $30.00 per ton) on
an annual basis for inflation and deflation (the “Adjusted Threshold Price”).
Fee royalties. Fee royalties have historically constituted a smaller component
of the Trust’s total royalty income. Fee royalties are payable to the
Mesabi Land Trust, a Minnesota land trust, which holds a 20% interest as fee
owner in the Peters Lease. Mesabi Trust holds the entire beneficial interest
in the Mesabi Land Trust for which U.S. Bank N.A. acts as the corporate trustee.
Mesabi Trust receives the net income of the Mesabi Land Trust, which is generated
from royalties on the amount of crude ore mined after the payment of expenses
to U.S. Bank N.A. for its services as the corporate trustee. Crude ore is the
source of iron oxides used to make iron ore pellets and other products. The
fee royalty on crude ore is based on an agreed price per ton, subject to certain
indexing.
Minimum advance royalties. Northshore’s obligation to pay base overriding
royalties and royalty bonuses with respect to the sale of iron ore products
generally accrues upon the shipment of those products from Silver Bay. However,
regardless of whether any shipment has occurred, Northshore is obligated to
pay to Mesabi Trust a minimum advance royalty. Each year, the amount of the
minimum advance royalty is adjusted (but not below $500,000 per annum) for inflation
and deflation. The minimum advance royalty was $883,875 for calendar year 2015
and $897,008 for calendar year 2016, and will be $912,725 for calendar year
2017. Until overriding royalties (and royalty bonuses, if any) for a particular
year equal or exceed the minimum advance royalty for the year, Northshore must
make quarterly payments of up to 25% of the minimum advance royalty for the
year. Because minimum advance royalties are essentially prepayments of base
overriding royalties and royalty bonuses earned each year, any minimum advance
royalties paid in a fiscal quarter are recouped by credits against base overriding
royalties and royalty bonuses earned in later fiscal quarters during the year.
Company Address: 1 Columbus Circle, 17th Floor New York 10019 NY
Company Phone Number: 271-2520 Stock Exchange / Ticker: NYSE MSB
MSB is expected to report next financial results on April 23, 2024. |
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Customers Net Income grew by |
MSB's Customers Net Profit Margin grew to |
27.26 % |
8.23 %
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Stock Performances by Major Competitors |
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Dividend
Published Fri, Jan 12 2024 9:05 PM UTC
There is good news for the unit holders of Mesabi Trust (NYSE:MSB) as the company announced for the first time it will commence a distribution to its stakeholders. The New York-based entity, Mesabi Trust, recently declared it will distribute thirty-seven cents ($0.37) per unit of Beneficial Interest. This distribution is scheduled to be payable on February 20, 2024, to ...
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Mesabi Trust
Mesabi Trust, a prominent player in the Basic Materials sector, recently made headlines with its strong financial performance in the third quarter of 2024. The company reported a remarkable revenue advance of 5681.776% year-on-year, reaching $4.90 million. As a result, Mesabi Trust's bottom-line turned positive, with a profit of $0.31 per share. These figures represent a significant improvement compared to the previous financial reporting period, where profit plummeted by -55.51% and revenue tumbled by -50.491%. The company's net income in the third quarter of 2024 was $4.086 million, a notable improvement compared to the corresponding financial reporting period a year ago, which experienced a net shortfall of $-0.414 million. Mesabi Trust also highlighted its improving profit margins, with net margin rising to 83.46% and operating margin edging up to 83.46%. These positive developments reflect the company's effective cost management and operational efficiency.
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Dividend
Published Fri, Oct 13 2023 8:05 PM UTC
Mesabi Trust, a leading entity in the Basic Materials sector, made headlines recently with its press release announcing a distribution of thirty-five cents ($0.35) per Unit of Beneficial Interest. This distribution, scheduled for November 20, 2023, marks a significant change compared to the previous year when no distribution was declared for the same period. Th...
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Mesabi Trust
Mesabi Trust, a metal mining company, has shown positive growth and improvement in its financial performance for the fiscal interval closing on July 31, 2023. The company has reported profits of $0.70 per share, a significant increase compared to the negative earnings of $-0.37 per share in the same quarter a year before. This demonstrates a positive turnaround for Mesabi Trust, as the company has been able to generate profits and improve its financial position. In the prior quarter, Mesabi Trust realized earnings of $0.08 per share, indicating a substantial growth in EPS by 797.31%. Additionally, the company's revenue has more than doubled, with a growth rate of 434.886% from $1.85 million in the prior quarter. This surge in revenue is a positive sign for Mesabi Trust, suggesting increased demand and improved sales performance.
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Mesabi Trust
Mesabi Trust, a Minnesota-based mining corporation that produces iron ore pellets, has experienced a sharp decline in its income and revenue for the fiscal span ending April 30 2023. Its income fell by -92.47% to $0.08 per share, which is a significant drop from $1.04 per share recorded in the previous year. Its EPS also dropped by -98.31% to $4.61 per share from the previous quarter. This indicates that the company is struggling to maintain its profitability. The company's revenue plummeted by -86.976% to $1.85 million from $14.20 million in the same quarter a year prior. Sequentially, the revenue tumbled by -96.996% from $61.55 million. This steep decline in revenue indicates that Mesabi Trust has experienced severe challenges in maintaining its operations. In the same fiscal span, the company's net profits also fell by -92.47%, from $13.595 million to $1.023 million.
|
Per Share |
Current |
Earnings (TTM) |
5.7 $ |
Revenues (TTM) |
5.96 $
|
Cash Flow (TTM) |
0.64 $ |
Cash |
-
|
Book Value |
-
|
Dividend (TTM) |
0 $ |
|
Per Share |
|
Earnings (TTM) |
5.7 $
|
Revenues (TTM) |
5.96 $ |
Cash Flow (TTM) |
0.64 $ |
Cash |
-
|
Book Value |
- |
Dividend (TTM) |
0 $ |
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