MESABI TRUST
Mesabi Trust is an American royalty trust organised to generate income from iron ore production. Its assets are centred on the Peter Mitchell Mine in Minnesota, part of the historic Mesabi Iron Range. The trust itself doesn't dig up any ore; instead, it receives royalty payments from the mine's operator, Northshore Mining Company, which is a subsidiary of steel giant Cleveland-Cliffs Inc. Northshore extracts taconite (a type of iron ore), processes it into pellets, and sells them primarily for use in blast furnaces. The trust's income is directly linked to the selling price and volume of these pellets. As a pass-through entity, Mesabi Trust is designed to distribute a significant portion of its earnings to its unitholders. This direct link to commodity prices means its financial performance can be closely tied to the cycles of the global steel and iron ore markets.
Stock Performance Snapshot
Financial Health
Mesabi Trust is performing well with solid revenue and cash generation, indicating a healthy business.
Dividend
MESABI TRUST offers an impressive dividend yield of 19.05%, making it highly appealing for dividend-seeking investors. If you invested $1000 you would be paid $190.50 a year in dividends (based on the last 12 months).
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Why You’ll Want to Watch This Stock
A Pure Play on Iron Ore
The trust's structure offers a focused way to gain exposure to the iron ore market, as its income is directly tied to production royalties. However, this also means its performance can be volatile and dependent on commodity cycles.
Focus on Distributions
As a pass-through trust, Mesabi is designed to distribute a large part of its income to unitholders. This may interest investors focused on income, though distributions are not guaranteed and can change over time.
Established Mine Operator
The mine is run by a subsidiary of Cleveland-Cliffs, a major integrated steel producer. The operator’s expertise and stability are important factors for the trust's potential to collect royalties consistently.
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