Mackenzie Financial Corp Sells 54,192 Shares of MAC Copper Limited (NYSE:MTAL)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC bought a new stake in shares of MAC Copper in the 4th quarter worth $26,000. Orion Portfolio Solutions LLC bought a new position in shares of MAC Copper during the fourth quarter valued at $119,000. ProShare Advisors LLC boosted its position in shares of MAC Copper by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock valued at $161,000 after buying an additional 4,990 shares during the last quarter. Tidal Investments LLC increased its holdings in MAC Copper by 33.6% in the 4th quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock worth $191,000 after buying an additional 4,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in MAC Copper by 22.8% in 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 in the last quarter. 87.47% of the stock is owned by institutional investors.

MAC Copper Stock Performance

NYSE:MTAL traded up $0.02 on Friday, hitting $12.09. The stock had a trading volume of 81,115 shares, compared to its average volume of 502,181. The business's 50-day simple moving average is $12.09 and its two-hundred day simple moving average is $10.73. MAC Copper Limited has a 52-week low of $7.69 and a 52-week 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.

Wall Street Analyst Weigh In

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