GSA Capital Partners LLP Acquires Shares of 82,917 MAC Copper Limited (NYSE:MTAL)

Key Points

• GSA Capital Partners LLP made a new investment of approximately $791,000 in MAC Copper Limited, acquiring 82,917 shares.
• Several hedge funds, including Glencore plc and SailingStone Capital Partners LLC, have also recently modified their positions in MAC Copper, indicating strong institutional interest in the company.
• Wall Street analysts have downgraded MAC Copper from "strong-buy" to "hold," with price objectives ranging from $12.25 to $13.00 per share.

GSA Capital Partners LLP bought a new position in MAC Copper Limited (NYSE:MTAL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 82,917 shares of the company's stock, valued at approximately $791,000. GSA Capital Partners LLP owned about 0.10% of MAC Copper at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glencore plc purchased a new position in MAC Copper in the 4th quarter worth $106,200,000. SailingStone Capital Partners LLC raised its stake in MAC Copper by 3.9% in the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company's stock worth $27,967,000 after acquiring an additional 98,925 shares during the last quarter. Millennium Management LLC raised its stake in MAC Copper by 11.2% in the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company's stock worth $21,538,000 after acquiring an additional 204,439 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MAC Copper by 11.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,865,422 shares of the company's stock worth $19,811,000 after acquiring an additional 194,813 shares during the last quarter. Finally, Northern Trust Corp raised its stake in MAC Copper by 4.0% in the 4th quarter. Northern Trust Corp now owns 339,081 shares of the company's stock worth $3,601,000 after acquiring an additional 13,164 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MTAL shares. Canaccord Genuity Group downgraded shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 11th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $12.25 price target (up from $11.00) on shares of MAC Copper in a report on Tuesday, June 3rd. National Bank Financial lowered shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $13.00 price target on shares of MAC Copper in a report on Tuesday, May 27th.

MAC Copper Stock Up 0.0%

NYSE:MTAL traded up $0.01 during mid-day trading on Wednesday, hitting $12.08. The company's stock had a trading volume of 404,935 shares, compared to its average volume of 502,002. MAC Copper Limited has a 1 year low of $7.69 and a 1 year high of $14.31. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.12 and a quick ratio of 0.97. The business's fifty day moving average is $12.10 and its two-hundred day moving average is $10.71.

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.