MAC Copper Limited (NYSE:MTAL) is Fourth Sail Capital LP's Largest Position

Key Points

• Fourth Sail Capital LP has made MAC Copper Limited (NYSE:MTAL) its largest position, owning 5,185,005 shares, which constitutes about 11.6% of its investment portfolio.
• Several hedge funds increased their stakes in MAC Copper during the 4th quarter, including ProShare Advisors LLC, which boosted its position by 49.0%.
• Wall Street analysts have mixed views on MAC Copper, with BMO Capital Markets raising its price target to $12.25 while National Bank Financial downgraded its rating from "strong-buy" to "hold".

Fourth Sail Capital LP raised its stake in shares of MAC Copper Limited (NYSE:MTAL - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,185,005 shares of the company's stock after acquiring an additional 49,862 shares during the period. MAC Copper makes up approximately 11.6% of Fourth Sail Capital LP's holdings, making the stock its biggest position. Fourth Sail Capital LP owned approximately 6.29% of MAC Copper worth $49,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC bought a new position in shares of MAC Copper in the 4th quarter worth approximately $26,000. Orion Portfolio Solutions LLC bought a new stake in MAC Copper during the 4th quarter worth approximately $119,000. ProShare Advisors LLC raised its stake in MAC Copper by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock worth $161,000 after acquiring an additional 4,990 shares during the period. Tidal Investments LLC raised its stake in MAC Copper by 33.6% during the 4th 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 period. Finally, 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 acquiring an additional 4,026 shares during the period. Institutional investors own 87.47% of the company's stock.

MAC Copper Price Performance

Shares of MTAL stock traded up $0.02 on Friday, reaching $12.09. The company's stock had a trading volume of 342,747 shares, compared to its average volume of 691,255. The stock's fifty day simple moving average is $12.09 and its 200-day simple moving average is $10.74. MAC Copper Limited has a 1 year low of $7.69 and a 1 year high of $14.31. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63.

Analysts Set New Price Targets

MTAL has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, July 11th. BMO Capital Markets reaffirmed a "market perform" rating and set a $12.25 price objective (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 set a $13.00 price objective on shares of MAC Copper in a report on Tuesday, May 27th.

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.