Bank of America Corp DE Sells 101,475 Shares of Metalla Royalty & Streaming Ltd. $MTA

Key Points

• Bank of America cut its Metalla Royalty & Streaming stake by 69.3% in the first quarter, selling 101,475 shares and retaining 45,032 shares valued at approximately $299,000.
• Despite Bank of America’s reduction, institutional ownership remains notable at 17.82%, with Sprott, Mackenzie Financial, and Renaissance Technologies among investors that increased their positions.
• MTA shares opened at $10.03, near the upper end of their 52-week range, while analysts maintain a “Moderate Buy” consensus; Scotiabank lowered its target to $8.50 and assigned a “sector perform” rating.

Bank of America Corp DE trimmed its position in Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - Free Report) by 69.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,032 shares of the company's stock after selling 101,475 shares during the period. Bank of America Corp DE's holdings in Metalla Royalty & Streaming were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Global Strategic Management Inc. bought a new stake in Metalla Royalty & Streaming in the 4th quarter valued at approximately $16,183,000. Sprott Inc. raised its holdings in shares of Metalla Royalty & Streaming by 91.8% in the fourth quarter. Sprott Inc. now owns 1,415,520 shares of the company's stock valued at $11,013,000 after purchasing an additional 677,311 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Metalla Royalty & Streaming by 1,657.8% in the fourth quarter. Mackenzie Financial Corp now owns 731,231 shares of the company's stock worth $5,557,000 after purchasing an additional 689,631 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Metalla Royalty & Streaming by 14.6% in the third quarter. Two Sigma Investments LP now owns 467,723 shares of the company's stock worth $2,970,000 after purchasing an additional 59,496 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Metalla Royalty & Streaming by 210.2% during the first quarter. Renaissance Technologies LLC now owns 451,948 shares of the company's stock worth $2,996,000 after purchasing an additional 306,248 shares during the last quarter. 17.82% of the stock is owned by institutional investors and hedge funds.

Metalla Royalty & Streaming Price Performance

NYSEAMERICAN:MTA opened at $10.03 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.50 and a current ratio of 4.50. Metalla Royalty & Streaming Ltd. has a 52 week low of $5.31 and a 52 week high of $11.60. The firm's 50-day simple moving average is $8.83 and its 200 day simple moving average is $7.84. The firm has a market cap of $937.80 million, a price-to-earnings ratio of -1,003.00 and a beta of 1.42.

Analysts Set New Price Targets

Separately, Scotiabank lowered their target price on Metalla Royalty & Streaming from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.

About Metalla Royalty & Streaming

Metalla Royalty & Streaming Ltd. is a Canada‐based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non‐dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.

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