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

Several other hedge funds have also added to or reduced their stakes in MTAL. Price T Rowe Associates Inc. MD raised its stake in 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 buying an additional 4,026 shares during the period. Northern Trust Corp increased its holdings in MAC Copper by 4.0% during the 4th quarter. Northern Trust Corp now owns 339,081 shares of the company's stock worth $3,601,000 after purchasing an additional 13,164 shares in the last quarter. Bank of America Corp DE increased its holdings in MAC Copper by 95.9% during the 4th quarter. Bank of America Corp DE now owns 70,389 shares of the company's stock worth $748,000 after purchasing an additional 34,454 shares in the last quarter. Deutsche Bank AG increased its holdings in MAC Copper by 52.7% during the 4th quarter. Deutsche Bank AG now owns 52,207 shares of the company's stock worth $554,000 after purchasing an additional 18,028 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in MAC Copper by 11.2% during the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company's stock worth $21,538,000 after purchasing an additional 204,439 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company's stock.

MAC Copper Trading Down 0.2%

Shares of NYSE MTAL opened at $12.19 on Friday. The business has a 50-day moving average of $12.10 and a 200-day moving average of $10.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.45 and a current ratio of 0.58. MAC Copper Limited has a fifty-two week low of $7.69 and a fifty-two week high of $14.31.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank reiterated a "sector perform" rating and set a $13.00 target price on shares of MAC Copper in a report on Tuesday, May 27th. BMO Capital Markets reiterated a "market perform" rating and set a $12.25 target price (up previously from $11.00) on shares of MAC Copper in a report on Tuesday, June 3rd. Finally, Canaccord Genuity Group cut MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock 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.

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