Streetbeat News

MSB

Mesabi Trust

Industry

Steel

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was incorporated in 1961 and is based in New York, New York.

Open

25.56

Mkt cap

335M

Volume

32K

High

25.85

P/E Ratio

18.90

52-wk high

26.98

Low

25.20

Div yield

0.07

52-wk low

15.93

Mesabi Trust (NYSE:MSB) received a total royalty payment of $5,059,648 from Cleveland-Cliffs Inc. (Cliffs) on April 30, 2024, for iron ore shipments from Silver Bay, Minnesota during Q1 2024. The payment includes base and bonus royalties based on the volume of iron ore shipped, which was 1,006,692 tons, a significant increase from zero tons shipped in Q1 2023. The variations in royalty payments are influenced by multiple factors including Cliffs' operational decisions and general economic conditions.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:59 pm

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