Bank of Montreal Can Reduces Holdings in Metals Acquisition Limited (NYSE:MTAL)

Bank of Montreal Can cut its stake in Metals Acquisition Limited (NYSE:MTAL - Free Report) by 18.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 358,617 shares of the company's stock after selling 81,025 shares during the quarter. Bank of Montreal Can owned approximately 0.48% of Metals Acquisition worth $3,809,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC purchased a new position in shares of Metals Acquisition in the 4th quarter valued at about $26,000. Wells Fargo & Company MN grew its holdings in Metals Acquisition by 32.7% in the fourth quarter. Wells Fargo & Company MN now owns 29,837 shares of the company's stock valued at $317,000 after purchasing an additional 7,352 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in Metals Acquisition in the fourth quarter valued at approximately $119,000. JPMorgan Chase & Co. increased its position in shares of Metals Acquisition by 70.7% in the fourth quarter. JPMorgan Chase & Co. now owns 112,771 shares of the company's stock valued at $1,198,000 after buying an additional 46,701 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Metals Acquisition by 58.5% during the 4th quarter. American Century Companies Inc. now owns 906,421 shares of the company's stock worth $9,626,000 after buying an additional 334,505 shares during the period. Hedge funds and other institutional investors own 87.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Metals Acquisition in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $11.00 price target on the stock. Scotiabank dropped their target price on shares of Metals Acquisition from $16.00 to $14.50 and set a "sector outperform" rating on the stock in a research report on Monday, January 6th.

Metals Acquisition Stock Down 0.8 %

MTAL traded down $0.07 on Monday, hitting $8.69. 241,277 shares of the company's stock were exchanged, compared to its average volume of 331,612. Metals Acquisition Limited has a fifty-two week low of $7.69 and a fifty-two week high of $15.26. The firm has a 50-day moving average price of $9.84 and a 200-day moving average price of $11.05. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.

Metals Acquisition Profile

Metals Acquisition Limited focuses on mining and production of copper and silver. It operates the CSA copper mine in Cobar, Australia. The company was incorporated in 2022 and is headquartered in Saint Helier, Jersey.