Mesabi Trust

MSBBasic Materials·Steel·USA·Micro·NYSE·Nov 11 • 3:59 PM ET

17.22+0.03 (0.17%)

2026-11-12 00:27 CET

Market cap

225.53 USD m

Revenue, TTM

11.91 USD m

Net income, TTM

6.49 USD m

Free cash flow, TTM

8.73 USD m

EPS diluted, TTM

0.49

P/E

34.83

Compare

Price

MSB against its 20, 50 and 200-day averages

2050200

59.4% under the 52-week high of 42.38 on 14 Jan 2026. 52-week low 16.26 on 6 Nov 2026. Last 15 sessions, 19.6% high to low

Volume 0.50× normal · the line is the 50-bar volume average

Profile

MSB

52-week range, 4% of the way up

16.2642.38

Mesabi Trust engages in the business of collecting income, paying expenses and liabilities, distributing net income to the holders of Trust certificates after the payment of, or provision for, such expenses and liabilities, and protecting and conserving the assets held. The firm is also involved in iron ore mining activities. The company was founded on July 18, 1961 and is headquartered in New York, NY.

IPO	Jul 28, 1961
Beta	0.50
ATR, 14d	0.94
Rel volume	0.50
Short float	0.92%
Insider own	0.08%
Inst own	50.68%

Snapshot

6 groups

Valuation

Index	-
Market Cap	225.92M
Enterprise Value	208.53M
Income	6.49M
Sales	11.91M
Book/sh	1.34
Cash/sh	1.33
Dividend Est.	-
Dividend TTM	0.55 (3.19%)
Dividend Ex-Date	Jul 30, 2026
Dividend Gr. 3/5Y	54.48% 37.11%
Payout	655.57%
Employees	-
IPO	Jul 28, 1961

Ratios

P/E	34.83
Forward P/E	-
PEG	-
P/S	18.97
P/B	12.84
P/C	12.99
P/FCF	25.88
EV/EBITDA	32.13
EV/Sales	17.51
Quick Ratio	8.81
Current Ratio	8.81
Debt/Eq	0.00
LT Debt/Eq	0.00
Option/Short	Yes / Yes

Earnings

EPS (ttm)	0.49
EPS next Y	-
EPS next Q	-
EPS this Y	-
EPS next Y	-
EPS next 5Y	-
EPS past 3/5Y	37.72% -9.94%
Sales past 3/5Y	31.30% -7.55%
EPS Y/Y TTM	-93.01%
Sales Y/Y TTM	-87.62%
EPS Q/Q	-101.99%
Sales Q/Q	-55.76%
Earnings	-
EPS/Sales Surpr.	-2.26% -2.17%

Ownership

Insider Own	0.08%
Insider Trans	0.00%
Inst Own	50.68%
Inst Trans	-0.09%
ROA	29.07%
ROE	32.13%
ROIC	36.87%
Gross Margin	54.47%
Oper. Margin	54.47%
Profit Margin	54.47%
SMA20	-3.88%
SMA50	-11.05%
SMA200	-32.97%
Trades	-

Technical

Shs Outstand	13.12M
Shs Float	13.11M
Short Float	0.92%
Short Ratio	2.68
Short Interest	0.12M
52W High	42.38 -59.37%
52W Low	16.26 5.90%
Volatility	5.98% 5.08%
ATR (14)	0.94
RSI (14)	40.15
Beta	0.50
Rel Volume	0.50
Avg Volume	45.00K
Volume	22,390

Performance

Perf Week	-2.33%
Perf Month	-2.93%
Perf Quarter	-26.03%
Perf Half Y	-42.85%
Perf YTD	-55.30%
Perf Year	-50.23%
Perf 3Y	-8.99%
Perf 5Y	-27.43%
Perf 10Y	73.94%
Recom	-
Target Price	-
Prev Close	17.19
Price	17.22
Change %	0.17%

Analyst ratings

latest 5 of 5

Date	Action	Analyst	Rating change	Target	Implied
May 09, 2011	Upgrade	DDavenport	Neutral → Buy	$40	+132.3%
Sep 15, 2010	Downgrade	DDavenport	Buy → Neutral
Sep 09, 2010	Reiterated	DDavenport	Buy	$29 → $32	+85.8%
Aug 23, 2010	Reiterated	DDavenport	Buy	$26 → $29	+68.4%
Jan 11, 2010	Downgrade	DDavenport	Buy → Neutral	$13 → $14	-18.7%

Date

Action

Analyst

Rating change

Target

Implied

May 09, 2011

Upgrade

DDavenport

Neutral → Buy

$40

+132.3%

Sep 15, 2010

Downgrade

DDavenport

Buy → Neutral

Sep 09, 2010

Reiterated

DDavenport

Buy

$29 → $32

+85.8%

Aug 23, 2010

Reiterated

DDavenport

Buy

$26 → $29

+68.4%

Jan 11, 2010

Downgrade

DDavenport

Buy → Neutral

$13 → $14

-18.7%

Peers

Mkt cap

Ticker	Company	Mkt cap
CLF	Cleveland-Cliffs Inc	7.50B
SRL	Scully Royalty Ltd	58.77M
VALE	Vale SA ADR	47.16B
TMCR	Metals Royalty Co Inc	129.44M
RIO	Rio Tinto plc ADR	106.62B
BHP	BHP Group Limited ADR	208.55B
MTA	Metalla Royalty and Streaming Ltd	720.89M
SBR	Sabine Royalty Trust	937.59M
PBT	Permian Basin Royalty Trust	1.44B
NRT	North European Oil Royalty Trust	65.44M

Ticker

Company

Mkt cap

CLF

Cleveland-Cliffs Inc

7.50B

SRL

Scully Royalty Ltd

58.77M

VALE

Vale SA ADR

47.16B

TMCR

Metals Royalty Co Inc

129.44M

RIO

Rio Tinto plc ADR

106.62B

BHP

BHP Group Limited ADR

208.55B

MTA

Metalla Royalty and Streaming Ltd

720.89M

SBR

Sabine Royalty Trust

937.59M

PBT

Permian Basin Royalty Trust

1.44B

NRT

North European Oil Royalty Trust

65.44M

Held by

AUM

Ticker	Company	AUM
INFL	Horizon Kinetics Inflation Beneficiaries ETF	AUM: 1.53B
DES	WisdomTree U.S. SmallCap Dividend Fund	AUM: 2.12B
EES	WisdomTree U.S. SmallCap Fund	AUM: 684.87M
DHS	WisdomTree U.S. High Dividend Fund	AUM: 1.66B

Ticker

Company

AUM

INFL

Horizon Kinetics Inflation Beneficiaries ETF

AUM: 1.53B

DES

WisdomTree U.S. SmallCap Dividend Fund

AUM: 2.12B

EES

WisdomTree U.S. SmallCap Fund

AUM: 684.87M

DHS

WisdomTree U.S. High Dividend Fund

AUM: 1.66B

News

latest 14 of 200

Oct-15-26 04:05PMMesabi Trust Announcement of No Distribution (Business Wire)
Sep-11-26 04:42PMMesabi: Fiscal Q2 Earnings Snapshot (Associated Press) -6.86%
Jul-14-26 04:05PMMesabi Trust Press Release (Business Wire)
Jun-12-26 04:43PMMesabi: Fiscal Q1 Earnings Snapshot (Associated Press)
May-04-26 04:05PMMesabi Trust Press Release (Business Wire)
Apr-22-26 05:23PMMesabi: Fiscal Q4 Earnings Snapshot (Associated Press)
Apr-14-26 04:05PMMesabi Trust Press Release (Business Wire)
Jan-16-26 04:05PMMesabi Trust Press Release (Business Wire) -12.87%
Dec-12-25 04:37PMMesabi: Fiscal Q3 Earnings Snapshot (Associated Press Finance)
Oct-10-25 04:05PMMesabi Trust Press Release (Business Wire)
Sep-26-25 04:30PMMesabi Trust Press Release (Business Wire)
Sep-15-25 04:37PMMesabi: Fiscal Q2 Earnings Snapshot (Associated Press Finance)
Jul-29-25 02:03AMHighest Dividend Spotlight: Mesabi Trust's (MSB) Potential to Deliver Consistent Yield (Insider Monkey) -6.83%
Jul-11-25 04:05PMMesabi Trust Press Release (Business Wire)

Key figures

Revenue, TTM	11.91
Net income, TTM	6.49
EPS diluted, TTM	0.49
EBIT, TTM	6.49
Free cash flow, TTM	8.73
Gross margin	54.47%
Operating margin	54.47%
Net margin	54.47%
Market cap	225.53
P/E	34.83
Sales Y/Y, TTM	-87.62%

USD millions. TTM from the statement feed.

Quarterly earnings

actual against estimate

Period	Reported	EPS act	EPS est	EPS rep	Sales act	Sales est	Analysts
No quarterly earnings.

Period

Reported

EPS act

EPS est

EPS rep

Sales act

Sales est

Analysts

No quarterly earnings.

Annual earnings

Period	EPS act	EPS est	EPS rep	Sales act	Sales est
2010FY	2.474	2.740	2.474	33.34	36.76
2011FY	2.530	2.530	2.530	34.16	34.16
2012FY	2.336	2.390	2.336	31.56	32.26

Estimate revisions

last 14 periods

Period	Type	Date	Estimates	Up	Down	Mean	Low	High
No estimate revisions.

Period

Type

Date

Estimates

Down

Mean

Low

High

No estimate revisions.

Estimate history

Period	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
EPS, annual	2.548	3.473	2.291	1.784	5.241	0.405	1.447	7.109	1.057	0.4944
EPS, quarterly	0.411	5.97	0.462	0.277	0.362	0.211	0.208	0.083	-0.007
Period	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Sales, annual	34.495	47.294	31.991	25.951	71.46	7.742	22.862	98.596	17.524	11.91
Period	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Sales, quarterly	6.49	79.002	6.853	4.735	5.607	3.59	3.592	2.246	2.48
Period	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Shares, annual	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12
Period	2017	2018	2019	2020	2021	2022	2023	2024	2025	MRQ
Shares, quarterly	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12
Period	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26

Income statement, annual

Currency USD, millions
Metric	TTM	2025FY	2024FY	2023FY	2022FY	2021FY	2020FY	2019FY	2018FY
Total Revenue	11.91	17.52	98.60	22.86	7.74	71.46	25.95	31.99	47.29
Total Expenses	5.42	3.66	5.32	3.88	2.43	2.69	2.54	1.94	1.73
Operating Income	6.49	13.87	93.27	18.98	5.31	68.77	23.41	30.06	45.56
Unusual Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Net Income Before Taxes	6.49	13.87	93.27	18.98	5.31	68.77	23.41	30.06	45.56
Income Taxes	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Consolidated Net Income	6.49	13.87	93.27	18.98	5.31	68.77	23.41	30.06	45.56
Net Income From Continuing Operations	6.49	13.87	93.27	18.98	5.31	68.77	23.41	30.06	45.56
Net Income	6.49	13.87	93.27	18.98	5.31	68.77	23.41	30.06	45.56
EPS (Recurring)	0.49	1.06	7.11	1.45	0.40	5.24	1.78	2.29	3.47
EPS (Basic, Before Extraordinaries)	0.49	1.06	7.11	1.45	0.40	5.24	1.78	2.29	3.47
EPS (Diluted)	0.49	1.06	7.11	1.45	0.40	5.24	1.78	2.29	3.47
Non-Operating Income (Expense)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other After Tax Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price To Earnings Ratio	34.77	34.77	3.37	13.48	56.91	5.34	17.65	8.91	7.90
Price To Sales Ratio	24.23	24.63	3.14	11.20	39.03	5.14	12.58	8.37	7.61
Gross Margin	54.47	96.98	99.67	98.58	94.82	99.50	98.90	98.94	99.29
Operating Margin	54.47	79.14	94.60	83.03	68.58	96.23	90.20	93.95	96.33
Net Margin	54.47	79.14	94.60	83.03	68.58	96.23	90.20	93.95	96.33
Shares Outstanding	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12
Market Capitalization	225.53	225.53	309.63	255.97	302.15	367.10	326.56	267.78	360.01

Income statement, quarterly

Currency USD, millions
Metric	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3
Total Revenue	2.48	2.25	3.59	3.59	5.61	4.73	6.85	79.00
Total Expenses	2.58	1.16	0.87	0.82	0.86	1.10	0.79	0.68
Operating Income	-0.10	1.09	2.73	2.77	4.74	3.63	6.07	78.33
Unusual Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income Before Taxes	-0.10	1.09	2.73	2.77	4.74	3.63	6.07	78.33
Income Taxes	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Consolidated Net Income	-0.10	1.09	2.73	2.77	4.74	3.63	6.07	78.33
Net Income From Continuing Operations	-0.10	1.09	2.73	2.77	4.74	3.63	6.07	78.33
Net Income	-0.10	1.09	2.73	2.77	4.74	3.63	6.07	78.33
EPS (Recurring)	-0.01	0.08	0.21	0.21	0.36	0.28	0.46	5.97
EPS (Basic, Before Extraordinaries)	-0.01	0.08	0.21	0.21	0.36	0.28	0.46	5.97
EPS (Diluted)	-0.01	0.08	0.21	0.21	0.36	0.28	0.46	5.97
Non-Operating Income (Expense)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other After Tax Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price To Earnings Ratio	34.77	26.29	25.08	4.83	4.11	3.93	3.37	17.92
Price To Sales Ratio	24.23	24.25	24.63	21.55	3.99	3.78	3.14	3.23
Gross Margin	-3.83	48.42	75.90	77.08	84.61	76.70	88.53	99.14
Operating Margin	-3.83	48.42	75.90	77.08	84.61	76.70	88.53	99.14
Net Margin	-3.83	48.42	75.90	77.08	84.61	76.70	88.53	99.14
Shares Outstanding	13.12	13.12	13.12	13.12	13.12	13.12	13.12	13.12
Market Capitalization	225.53	364.60	431.65	447.92	383.89	366.57	309.63	316.45

Balance sheet, annual

Currency USD, millions
Metric	2025FY	2024FY	2023FY	2022FY	2021FY	2020FY	2019FY	2018FY	2017FY
Cash & Short Term Investments	23.16	100.20	23.98	13.97	47.73	22.41	23.51	33.00	24.11
Short Term Receivables	0.26	0.24	0.45	0.00	1.43	0.18	0.00	0.00	0.00
Investment Securities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Securities In Custody	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	1E-06	1E-06	1E-06	1E-06	1E-06	1E-06	1E-06	1E-06	1E-06
Investment in Unconsolidated Affiliates	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Property, Plant & Equipment	2E-06	2E-06	2E-06	2E-06	2E-06	2E-06	2E-06	2E-06	2E-06
Other Intangible Assets	0.93	1.28	2.26	0.15	4.75	0.34	0.14	2.45	2.11
Total Assets	24.36	101.73	26.69	14.12	53.91	22.93	23.65	35.45	26.22
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Provision for Risks Charges	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	3.95	78.40	5.72	2.68	23.12	6.45	11.82	18.65	15.62
Total Liabilities	3.95	78.40	5.72	2.68	23.12	6.45	11.82	18.65	15.62
Preferred Stock - Carrying Value	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Common Equity	20.40	23.33	20.98	11.44	30.79	16.48	11.83	16.81	10.61
Total Shareholders Equity	20.40	23.33	20.98	11.44	30.79	16.48	11.83	16.81	10.61
Accumulated Minority Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity	20.40	23.33	20.98	11.44	30.79	16.48	11.83	16.81	10.61
Total Liabilities & Stockholders Equity	24.36	101.73	26.69	14.12	53.91	22.93	23.65	35.45	26.22
Book Value Per Share	1.56	1.78	1.60	0.87	2.35	1.26	0.90	1.28	0.81
Tangible Book Value Per Share	1.56	1.78	1.60	0.87	2.35	1.26	0.90	1.28	0.81
Price to Book Ratio	12.82	3.25	12.20	26.42	11.92	26.09	22.63	21.42	30.97
Return on Assets	22.00	145.27	93.04	15.61	178.98	100.51	101.71	147.97	165.17
Return on Equity	63.43	421.08	117.13	25.14	290.94	165.38	209.91	333.61	321.19
Return on Invested Capital	67.97	399.84	90.50	46.42	223.30	142.06	254.04	271.09	315.12
Quick Ratio	6.16	1.30	4.67	37.06	2.33	3.55	2.00	1.90	1.68
Current Ratio	6.16	1.30	4.67	37.06	2.33	3.55	2.00	1.90	1.68

Cash flow, annual

Currency USD, millions
Metric	TTM	2025FY	2024FY	2023FY	2022FY	2021FY	2020FY	2019FY	2018FY
Funds from Operations	6.49	13.87	93.27	18.98	5.31	68.77	23.41	30.06	45.56
Extraordinary Item	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Changes in Working Capital	2.25	0.54	0.66	-4.38	8.56	-5.92	-2.60	4.53	-0.06
Cash from Operating Activities	8.73	14.40	93.94	14.61	13.86	62.84	20.81	34.59	45.50
Capital Expenditures	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Assets From Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Fixed Assets and Businesses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Purchase or Sale of Investments	0.00	0.00	0.00	0.00	0.00	9.91	3.43	18.79	-8.32
Purchase of Investments	0.00	0.00	0.00	0.00	-115.22	-41.04	-87.18	-71.64	-90.26
Sale Or Maturity of Investments	0.00	0.00	0.00	0.00	115.22	50.94	90.60	90.43	81.94
Other Uses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Sources	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Investing Activities	0.00	0.00	0.00	0.00	0.00	9.91	3.43	18.79	-8.32
Cash Dividends Paid	-12.60	-91.45	-17.71	-4.59	-47.63	-37.52	-21.91	-44.08	-36.60
Change in Capital Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Repurchase of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceedsfrom Stock Options	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Issuance or Reduction of Debt, Net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Change in Long Term Debt	-	0.00	-	-	-	0.00	0.00	0.00	0.00
Reduction of Long Term Debt	-	0.00	-	-	-	0.00	0.00	0.00	0.00
Net Financing Active Other Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities Uses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Financing Activities	-12.60	-91.45	-17.71	-4.59	-47.63	-37.52	-21.91	-44.08	-36.60
Net Change in Cash	-3.86	-77.04	76.22	10.01	-33.76	35.23	2.32	9.30	0.57
Free Cash Flow	8.73	14.40	93.94	14.61	13.86	62.84	20.81	34.59	45.50
Preferred Dividends (Cash Flow)	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Free Cash Flow	-	-	4.06	25.56	-	14.50	-	-	40.49

Balance sheet, quarterly

Currency USD, millions
Metric	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1
Cash & Short Term Investments	17.39	20.29	23.16	23.19	21.25	24.22
Short Term Receivables	1.05	0.87	0.26	1.06	1.77	1.18
Investments	1E-06	1E-06	1E-06	1E-06	1E-06	1E-06
Investment in Unconsolidated Affiliates	0.00	0.00	0.00	0.00	0.00	0.00
Net Property, Plant & Equipment	2E-06	2E-06	2E-06	2E-06	2E-06	2E-06
Other Intangible Assets	1.41	0.77	0.93	1.75	1.76	2.03
Total Assets	19.84	21.92	24.36	26.00	24.78	27.43
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Long Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Provision for Risks Charges	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	2.25	3.58	3.95	4.91	2.00	7.82
Total Liabilities	2.25	3.58	3.95	4.91	2.00	7.82
Preferred Stock - Carrying Value	0.00	0.00	0.00	0.00	0.00	0.00
Common Equity	17.59	18.34	20.40	21.09	22.78	19.61
Total Shareholders Equity	17.59	18.34	20.40	21.09	22.78	19.61
Accumulated Minority Interest	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity	17.59	18.34	20.40	21.09	22.78	19.61
Total Liabilities & Stockholders Equity	19.84	21.92	24.36	26.00	24.78	27.43
Book Value Per Share	1.34	1.40	1.56	1.61	1.74	1.49
Tangible Book Value Per Share	1.34	1.40	1.56	1.61	1.74	1.49
Price to Book Ratio	12.82	17.87	20.47	19.66	19.57	15.71
Return on Assets	29.07	45.90	22.00	27.17	363.61	355.49
Return on Equity	32.13	59.68	63.43	29.57	413.24	464.02
Return on Invested Capital	-0.54	5.93	13.36	13.12	20.82	18.52
Quick Ratio	8.81	6.12	6.16	5.29	12.42	3.51
Current Ratio	8.81	6.12	6.16	5.29	12.42	3.51

Cash flow, quarterly

Currency USD, millions
Metric	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1
Funds from Operations	-0.10	1.09	2.73	2.77	4.74	3.63
Extraordinary Item	0.00	0.00	0.00	0.00	0.00	0.00
Changes in Working Capital	0.34	-0.55	1.71	0.75	-0.37	-1.55
Cash from Operating Activities	0.25	0.53	4.43	3.52	4.38	2.08
Capital Expenditures	0.00	0.00	0.00	0.00	0.00	0.00
Net Assets From Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Fixed Assets and Businesses	0.00	0.00	0.00	0.00	0.00	0.00
Purchase or Sale of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Purchase of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Sale Or Maturity of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Other Uses	0.00	0.00	0.00	0.00	0.00	0.00
Other Sources	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Investing Activities	0.00	0.00	0.00	0.00	0.00	0.00
Cash Dividends Paid	-3.15	-3.41	-4.46	-1.57	-7.35	-78.06
Preferred Dividends (Cash Flow)	0.00	0.00	0.00	0.00	0.00	0.00
Change in Capital Stock	0.00	0.00	0.00	0.00	0.00	0.00
Repurchase of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00
Proceedsfrom Stock Options	0.00	0.00	0.00	0.00	0.00	0.00
Issuance or Reduction of Debt, Net	0.00	0.00	0.00	0.00	0.00	0.00
Change in Long Term Debt	-	-	0.00	-	-	0.00
Reduction of Long Term Debt	-	-	0.00	-	-	0.00
Net Financing Active Other Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities Uses	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Financing Activities	-3.15	-3.41	-4.46	-1.57	-7.35	-78.06
Net Change in Cash	-2.90	-2.88	-0.03	1.94	-2.97	-75.98
Free Cash Flow	0.25	0.53	4.43	3.52	4.38	2.08
Price to Free Cash Flow	-	-	-	-	-	141.47

Revenue breakdown

Total Mineral Royalty Traders revenue	2024: 98.60M 2025: 17.52M
United States	2024: 98.60M 2025: 17.52M

Short interest

shares short against float, oldest to newest

Settlement	Of float	Shares short	Float	Avg volume
2026-10-30	0.92%	0.1M	13.1M	40.48K
2026-10-15	0.68%	0.1M	13.1M	40.45K
2026-09-30	0.77%	0.1M	13.1M	40.19K
2026-09-15	0.85%	0.1M	13.1M	37.02K
2026-08-31	0.73%	0.1M	13.1M	39.86K
2026-08-14	0.85%	0.1M	13.1M	47.02K
2026-07-31	1.00%	0.1M	13.1M	53.04K
2026-07-15	0.95%	0.1M	13.1M	54.24K
2026-06-30	0.87%	0.1M	13.1M	55.82K
2026-06-15	0.82%	0.1M	13.1M	54.82K
2026-05-29	0.93%	0.1M	13.1M	60.09K
2026-05-15	0.97%	0.1M	13.1M	52.89K
2026-04-30	1.10%	0.1M	13.1M	50.03K
2026-04-15	0.96%	0.1M	13.1M	51.16K
2026-03-31	0.93%	0.1M	13.1M	54.37K
2026-03-13	0.95%	0.1M	13.1M	55.53K
2026-02-27	0.86%	0.1M	13.1M	48.06K
2026-02-13	0.92%	0.1M	13.1M	49.43K
2026-01-30	1.10%	0.1M	13.1M	46.70K
2026-01-15	0.98%	0.1M	13.1M	45.27K

Option chain

expiry 2026-11-20

Type	Strike	Bid	Ask	Last	IV	Open int	Delta	Theta	Vega
call	12.50	3.60	6.50	0.00	4.195	0.00	0.924	-0.032	0.004
call	15.00	0.50	4.70	0.00	3.612	0.00	0.753	-0.070	0.008
call	17.50	0.00	1.60	0.66	1.669	2.00	0.564	-0.163	0.010
call	20.00	0.00	0.50	0.18	1.252	7.00	0.265	-0.062	0.009
call	22.50	0.00	0.30	0.40	1.548	219	0.155	-0.056	0.006
call	25.00	0.00	0.05	0.00	1.224	0.00	0.039	-0.015	0.002
call	30.00	0.00	2.45	0.05	1.747	1.00	0.030	-0.018	0.002
put	12.50	0.00	0.15	0.00	1.465	0.00	-0.074	-0.029	0.004
put	15.00	0.00	0.65	0.00	1.635	0.00	-0.249	-0.078	0.009
put	17.50	0.00	4.90	0.82	4.473	3.00	-0.435	-0.163	0.010
put	20.00	1.20	4.90	0.00	2.859	0.00	-0.741	-0.064	0.009
put	22.50	3.10	7.50	0.00	3.553	0.00	-0.804	-0.072	0.007
put	25.00	5.50	10.00	0.00	4.037	0.00	-0.961	-0.015	0.002
put	30.00	11.70	15.00	0.00	4.802	0.00	-0.969	-0.016	0.002

Latest SEC filings

Filed	Form	Description	Period	Link
2026-11-09	SCHEDULE 13G/A			SEC
2026-11-02	8-K	Current report	2026-10-30	SEC
2026-10-15	8-K	Current report	2026-10-15	SEC
2026-09-11	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2026-07-31	SEC
2026-07-31	8-K	Current report	2026-07-30	SEC
2026-07-14	8-K	Current report	2026-07-14	SEC
2026-06-12	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2026-04-30	SEC
2026-05-04	8-K	Current report	2026-04-30	SEC
2026-04-29	SCHEDULE 13G/A			SEC
2026-04-22	ARS	Annual report to security holders.	2026-01-31	SEC
2026-04-22	10-K	Annual report pursuant to Section 13 or 15(d)	2026-01-31	SEC
2026-04-14	8-K	Current report	2026-04-14	SEC
2026-02-03	8-K	Current report	2026-01-30	SEC
2026-01-16	8-K	Current report	2026-01-16	SEC
2025-12-12	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2025-10-31	SEC
2025-10-31	8-K	Current report	2025-10-30	SEC
2025-10-29	SCHEDULE 13G/A			SEC
2025-10-10	8-K	Current report	2025-10-10	SEC
2025-09-26	8-K	Current report	2025-09-26	SEC
2025-09-15	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2025-07-31	SEC
2025-08-14	SCHEDULE 13G/A			SEC
2025-08-01	8-K	Current report	2025-07-30	SEC
2025-07-11	8-K	Current report	2025-07-11	SEC
2025-06-12	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2025-04-30	SEC
2025-05-02	8-K	Current report	2025-04-30	SEC
2025-04-24	ARS	Annual report to security holders.	2025-01-31	SEC
2025-04-24	10-K	Annual report pursuant to Section 13 or 15(d)	2025-01-31	SEC
2025-04-15	8-K	Current report	2025-04-15	SEC
2025-02-13	SCHEDULE 13G/A			SEC
2025-02-03	8-K	Current report	2025-01-30	SEC

Filed

Form

Description

Period

Link

2026-11-09

SCHEDULE 13G/A

Month	Bought	Buys	Sold	Sells
2026-11	0	0	0	0
2026-10	0	0	0	0
2026-09	0	0	0	0
2026-08	0	0	0	0
2026-07	0	0	0	0
2026-06	0	0	0	0
2026-05	0	0	0	0
2026-04	0	0	0	0
2026-03	0	0	0	0
2026-02	0	0	0	0
2026-01	0	0	0	0
2025-12	0	0	0	0
2025-11	0	0	0	0

Manager	% owned
HORIZON KINETICS ASSET MANAGEMENT LLC	24.54%
VALUEWORKS LLC	5.16%
CWA Asset Management Group, LLC	3.94%
FIRST MANHATTAN CO. LLC.	3.02%
MAD RIVER INVESTORS	2.49%
Advisory Services Network, LLC	1.42%
EagleClaw Capital Managment, LLC	1.30%
Moors & Cabot, Inc.	1.29%
MORGAN STANLEY	0.86%
Bank of New York Mellon Corp	0.78%

Fund	% owned
Horizon Kinetics Inflation Beneficiaries ETF	3.00%
1290 VT Small Cap Value Portfolio	1.30%
Avantis International Small Cap Equity ETF	0.82%
Goldman Sachs Innovate Equity ETF	0.73%
WisdomTree U.S. SmallCap Dividend Fund	0.54%
Kinetics Small Cap Opportunities Portfolio	0.38%
Fidelity Small-Mid Multifactor ETF	0.34%
Kinetics Paradigm Portfolio	0.32%
Kinetics Market Opportunities Portfolio	0.32%
Kinetics Internet Portfolio	0.29%

Ex date	Ordinary	Special
2026-07-30	0.0500	0.0000
2026-04-30	0.2400	0.0000
2026-01-30	0.2600	0.0000
2025-10-30	0.3400	0.0000
2025-07-30	0.1200	0.0000
2025-04-30	0.5600	0.0000
2025-01-30	5.9500	0.0000
2024-10-30	0.3900	0.0000
2024-07-30	0.3000	0.0000
2024-04-29	0.2900	0.0000
2024-01-29	0.3700	0.0000
2023-10-27	0.3500	0.0000
2022-07-28	0.8400	0.0000
2022-04-28	1.0400	0.0000
2022-01-27	1.7500	0.0000
2021-10-28	1.4200	0.0000
2021-07-29	0.0900	0.0000
2021-04-29	0.8900	0.0000
2021-01-28	0.4600	0.0000
2020-10-29	0.3600	0.0000
2020-07-29	0.0500	0.0000
2020-04-29	0.5600	0.0000
2020-01-29	0.7000	0.0000
2019-10-29	0.8700	0.0000
2019-07-29	0.2100	0.0000
2019-04-29	0.8900	0.0000
2019-01-29	1.3900	0.0000
2018-10-29	0.9400	0.0000
2018-07-27	0.2200	0.0000
2018-04-27	0.4500	0.0000
2018-01-29	1.1800	0.0000
2017-10-27	0.6400	0.0000
2017-07-26	0.1600	0.0000
2017-04-26	0.5500	0.0000
2017-01-26	0.1400	0.0000

Period	Amount	Yield	Payout	Kind
2014FY	1.8400	10.77%	97.46%	paid
2015FY	0.0900	2.05%	13.80%	paid
2016FY	0.6400	4.67%	87.31%	paid
2017FY	2.5300	10.20%	99.31%	paid
2018FY	3.0000	10.93%	86.39%	paid
2019FY	2.6700	13.08%	116.55%	paid
2020FY	1.4300	5.75%	80.15%	paid
2021FY	4.1500	14.83%	79.18%	paid
2022FY	1.8800	8.16%	464.54%	paid
2023FY	0.3500	1.79%	24.19%	paid
2024FY	0.3700	1.57%	5.20%	paid
2025FY	6.9300	21.06%	655.57%	paid