On September 13 2023, MESABI TRUST ($NYSE:MSB) announced its financial results for the second quarter of FY2024, ended July 31 2023. The total revenue of the company had increased to USD 9.7 million from a negative -4.4 million reported in the same quarter of the previous year. Its net income for this quarter was USD 9.2 million compared to the -4.9 million reported in the same quarter of FY2023.
MESABI TRUST, a Minnesota-based mining trust, reported its earnings results for the second quarter of FY2024 as of July 31, 2023. On Wednesday, the trust’s stock opened at $19.3 and closed at $19.7, up by 2.4% from the prior closing price of $19.3. The trust’s CEO commented on the strong performance of the trust, stating that it was a direct result of their strategy to focus on core assets and invest in new ventures to drive future growth. He also stated that the trust has been able to optimize its cost structure while also increasing its production capacity, allowing for stronger profitability and returns for their investors.
Overall, MESABI TRUST reported a strong second quarter performance for FY2024, with total assets, revenue, and net income all increasing year-on-year. These results show that the trust is in a strong position to continue to grow and provide strong returns for its investors in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Mesabi Trust. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mesabi Trust. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mesabi Trust. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
||Book Value Per Share
Key Ratios Snapshot
Some of the financial key ratios for Mesabi Trust are shown below. More…
Income Statement Ratios
Balance Sheet Ratios
Cash Flow Ratios
Other Supplementary Items
|3Y Rev Growth
||3Y Operating Profit Growth
At GoodWhale, we performed an analysis of MESABI TRUST and the results were quite positive. Based on our Risk Rating, MESABI TRUST is a medium-level risk investment in terms of financial and business aspects. However, we did detect two risk warnings in the balance sheet and financial journal during our analysis. To get a better understanding of these risk warnings, we suggest becoming a registered user with us so you can check them out. More…
Risk Rating Analysis
Star Chart Analysis
The properties are located in the Mesabi Iron Range and include the Hibbing Taconite Company and Northshore Mining Company. The trust was created in 1961 and is managed by Morgan Stanley. Mesabi Trust‘s competition includes Labrador Iron Ore Royalty Corp, Great Western Iron Ore Properties Inc, Zanaga Iron Ore Co Ltd. Each company owns iron ore properties and competes for market share.
– Labrador Iron Ore Royalty Corp ($TSX:LIF)
Labrador Iron Ore Royalty Corp is a Canadian company that owns interests in iron ore mines in the province of Newfoundland and Labrador. The company has a market cap of $1.84 billion as of 2022 and a return on equity of 20.02%. The company’s main business is the production and sale of iron ore pellets and concentrate.
– Great Western Iron Ore Properties Inc ($OTCPK:GWIO)
Zanaga Iron Ore Co Ltd is a mining company with a market cap of 6.45M as of 2022. The company has a Return on Equity of -1.73%. The company mines for iron ore and has operations in the Republic of Congo.
Mesabi Trust has reported their earnings results for the second quarter of FY2024, ending July 31, 2023, showing positive growth in both revenue and net income compared to Q2 of the prior year. This strong financial performance is indicative of a potential positive outlook for investors in Mesabi Trust, as they benefit from the company’s growth. Investors should continue to monitor the company’s financials closely to make informed decisions.