Mackenzie Financial Corp Cuts Position in MAC Copper Limited (NYSE:MTAL)

Mackenzie Financial Corp lowered its position in shares of MAC Copper Limited (NYSE:MTAL - Free Report) by 29.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,916 shares of the company's stock after selling 54,192 shares during the period. Mackenzie Financial Corp owned approximately 0.15% of MAC Copper worth $1,211,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MTAL. JPMorgan Chase & Co. raised its stake in shares of MAC Copper by 70.7% during the fourth quarter. JPMorgan Chase & Co. now owns 112,771 shares of the company's stock valued at $1,198,000 after purchasing an additional 46,701 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in shares of MAC Copper during the fourth quarter valued at approximately $119,000. Wells Fargo & Company MN raised its stake in shares of MAC Copper by 32.7% during the fourth quarter. Wells Fargo & Company MN now owns 29,837 shares of the company's stock valued at $317,000 after purchasing an additional 7,352 shares during the period. Quadrant Capital Group LLC purchased a new stake in shares of MAC Copper during the fourth quarter valued at approximately $26,000. Finally, Invesco Ltd. raised its stake in shares of MAC Copper by 6.5% during the fourth quarter. Invesco Ltd. now owns 25,755 shares of the company's stock valued at $274,000 after purchasing an additional 1,576 shares during the period. Hedge funds and other institutional investors own 87.47% of the company's stock.

MAC Copper Trading Up 0.1%

Shares of NYSE:MTAL opened at $12.07 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 1.12. The company has a fifty day simple moving average of $12.10 and a 200 day simple moving average of $10.70. MAC Copper Limited has a 12-month low of $7.69 and a 12-month high of $14.31.

Analyst Upgrades and Downgrades

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

MAC Copper 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.

Want to see what other hedge funds are holding MTAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MAC Copper Limited (NYSE:MTAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.