Mesa Royalty Trust (MTR) is a leading company focused on the development and commercialization of mineral products globally. The company supplies various products including bentonite, chromite and leonartide related products. The consumer base of the company includes paper, steel, construction, energy and polymer industries.
The price of MTR stock during the regular trading on January 26, 2022 was $8.8 with a significant gain of 4.44%. At last check in the current market on January 27, 2022, the stock was further up by 2%.
MTR: Events and Happenings
On January 26, 2022, MTR reported about the declaration of its common stock’s $0.05 per share quarterly dividend to shareholders, payable by March 10, 2022. On January 17, 2022, MTR reported about its fourth quarter earnings release date to be February 3, 2022.
MTR reported about its entry into two long-term strategic collaborations on December 16, 2021. The company agreed upon with Asia Symbol for the deployment of ground calcium carbonate system. The contract represented the company’s preliminary GCC satellite offering for its packaging consumers. The company also signed contract with Seshasayee Paper and Boards Ltd. for the construction of its 22,000 metric tonnes per year precipitated calcium carbonate portfolio.
MTR: Key Financials
On November 4, 2021, MTR reported its financial results for the third fiscal quarter ended October 3, 2021. Some of the key updates are as follows.
Net Sales
Total net sales in Q3 2021 were $473.2 million compared to $388.3 million in the same period of 2020. Overall, the company recorded 22% sales growth over the year.
Net Income per Share
Basic and diluted net income per share in Q3 2021 was $41.4 million or $1.24 (basic) and $1.22 (diluted) compared to $28.3 million or $0.83 in the same period in 2020.
Assets
Total current assets in Q3 2021 were recorded to be $1029.8 million.
MTR reported on October 25, 2021, about the approval of its $75 million share reacquisition program by the BoDs. The program operated with immediate effect.
Conclusion
MTR stock is outdoing from the past six months as the stock improved by 52% during that period despite the economic challenges in the pandemic. The current premarket incline in stock is probably the product of declaration of quarterly dividend by the company. The financial experts are praising the company for its brilliant performance and potential investor attraction.
