Credit Industriel ET Commercial Takes Position in MAC Copper Limited $MTAL

Key Points

• Credit Industriel ET Commercial acquired a new stake in MAC Copper Limited, purchasing 193,000 shares valued at approximately $2.33 million, representing about 0.23% of the company.
• Multiple institutional investors have increased their positions in MAC Copper during the second quarter, with hedge funds owning 87.47% of the company's stock.
• Analysts have mixed opinions on MAC Copper, with one "Strong Buy" rating, four "Hold", and one "Sell", resulting in an average price target of $12.63.

Credit Industriel ET Commercial bought a new stake in MAC Copper Limited (NYSE:MTAL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 193,000 shares of the company's stock, valued at approximately $2,333,000. Credit Industriel ET Commercial owned approximately 0.23% of MAC Copper at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC lifted its position in shares of MAC Copper by 256.3% in the second quarter. Signaturefd LLC now owns 10,575 shares of the company's stock valued at $128,000 after acquiring an additional 7,607 shares in the last quarter. XTX Topco Ltd purchased a new position in MAC Copper during the first quarter worth approximately $249,000. Dynamic Technology Lab Private Ltd purchased a new position in MAC Copper during the first quarter worth approximately $287,000. Vanguard Personalized Indexing Management LLC purchased a new position in MAC Copper during the second quarter worth approximately $536,000. Finally, GSA Capital Partners LLP purchased a new position in MAC Copper during the first quarter worth approximately $791,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

MAC Copper Stock Performance

MTAL stock opened at $12.21 on Tuesday. The business has a fifty day moving average of $12.16 and a two-hundred day moving average of $11.24. 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 52-week low of $7.69 and a 52-week high of $13.88.

Analysts Set New Price Targets

A number of brokerages recently commented on MTAL. Weiss Ratings reiterated a "sell (d-)" rating on shares of MAC Copper in a research report on Wednesday, October 8th. Canaccord Genuity Group downgraded MAC Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 11th. Finally, Zacks Research upgraded MAC Copper from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, MAC Copper has an average rating of "Hold" and an average price target of $12.63.

About MAC Copper

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.

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