CLF - If Fed Doesn't Get Serious About Inflation Buy Mesabi Trust (Rating Upgrade)

2024-05-28 10:52:47 ET

Summary

• Recent developments, such as the mid-2023 resumption of mining operations by Cleveland-Cliffs on trust leases and the Federal Reserve's reluctance to raise interest rates, suggest potential upside for Mesabi.
• Increasing odds for a turnaround in China's economy, alongside an approaching arbitration judgment over underpaid royalties, are additional reasons to consider investing in MSB stock.
• A low-volatility basing pattern over the last 12 months could support a price breakout and material gains for investors buying around $17.

I last wrote about Mesabi Trust ( MSB ) in January 2023 here , discussing the high odds of a recession and depressed iron metals price remaining the norm. My rating was to Sell the Minnesota iron-ore holder in title ( Peter Mitchell assets near Babbitt ), that collects royalties on extracted supply and pays most all revenue to owners in the form of dividends....

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