Dynamic Technology Lab Private Ltd Buys Shares of 30,123 MAC Copper Limited $MTAL

Key Points

• Dynamic Technology Lab Private Ltd acquired 30,123 shares of MAC Copper Limited, valued at approximately $287,000, during the first quarter.
• Several hedge funds, including Price T Rowe Associates and Bank of America Corp DE, have significantly increased their stakes in MAC Copper during the fourth quarter.
• Current market analysts have set a consensus rating of “Hold” for MAC Copper, with an average price target of $12.63.

Dynamic Technology Lab Private Ltd bought a new position in shares of MAC Copper Limited (NYSE:MTAL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,123 shares of the company's stock, valued at approximately $287,000.

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

MAC Copper Stock Up 0.2%

MAC Copper stock traded up $0.02 during trading on Thursday, reaching $12.22. 660,011 shares of the company's stock were exchanged, compared to its average volume of 1,365,989. MAC Copper Limited has a 52-week low of $7.69 and a 52-week high of $14.31. The company has a quick ratio of 0.45, a current ratio of 0.58 and a debt-to-equity ratio of 0.68. The company's 50-day moving average is $12.11 and its two-hundred day moving average is $11.01.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MTAL. Scotiabank reissued a "sector perform" rating and set a $13.00 price objective on shares of MAC Copper in a research note on Tuesday, May 27th. Canaccord Genuity Group downgraded MAC Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 11th. Finally, BMO Capital Markets restated a "market perform" rating and set a $12.25 price target (up from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, MAC Copper currently has a consensus 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.