American Century Companies Inc. Sells 782,589 Shares of MAC Copper Limited $MTAL

Key Points

• American Century Companies Inc. significantly reduced its holdings in MAC Copper Limited by 86.3%, owning approximately 123,832 shares after selling 782,589 shares in the first quarter.
• Various institutional investors have increased their stakes in MAC Copper, with ProShare Advisors LLC raising its investment by 49.0% during the fourth quarter.
• Wall Street analysts have mostly rated MAC Copper as a "Hold," with a consensus price target of $12.63 per share, following downgrades and updated ratings from multiple firms.

American Century Companies Inc. trimmed its stake in MAC Copper Limited (NYSE:MTAL - Free Report) by 86.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,832 shares of the company's stock after selling 782,589 shares during the period. American Century Companies Inc. owned 0.15% of MAC Copper worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in MAC Copper by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock valued at $161,000 after buying an additional 4,990 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of MAC Copper by 33.6% during the 4th quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock worth $191,000 after purchasing an additional 4,524 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MAC Copper by 22.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,679 shares of the company's stock worth $231,000 after purchasing an additional 4,026 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of MAC Copper during the 4th quarter worth approximately $235,000. Finally, XTX Topco Ltd acquired a new stake in shares of MAC Copper during the 1st quarter worth approximately $249,000. Institutional investors and hedge funds own 87.47% of the company's stock.

MAC Copper Price Performance

MTAL stock traded down $0.01 during trading on Tuesday, hitting $12.19. The company had a trading volume of 558,317 shares, compared to its average volume of 581,464. The company has a fifty day moving average price of $12.09 and a two-hundred day moving average price of $10.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.58 and a quick ratio of 0.45. MAC Copper Limited has a fifty-two week low of $7.69 and a fifty-two week high of $14.31.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets reissued a "market perform" rating and set a $12.25 price objective (up previously from $11.00) on shares of MAC Copper in a report on Tuesday, June 3rd. Scotiabank reissued a "sector perform" rating and set a $13.00 price objective on shares of MAC Copper in a report on Tuesday, May 27th. Finally, Canaccord Genuity Group lowered MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, July 11th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.63.

MAC Copper Company 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.