Metals Acquisition Limited (NYSE:MTAL) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its position in Metals Acquisition Limited (NYSE:MTAL - Free Report) by 95.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,389 shares of the company's stock after buying an additional 34,454 shares during the quarter. Bank of America Corp DE owned 0.10% of Metals Acquisition worth $748,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Glencore plc purchased a new stake in shares of Metals Acquisition in the 4th quarter worth about $106,200,000. Northern Trust Corp grew its position in shares of Metals Acquisition by 4.0% in the fourth quarter. Northern Trust Corp now owns 339,081 shares of the company's stock valued at $3,601,000 after purchasing an additional 13,164 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Metals Acquisition 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 purchasing an additional 4,026 shares in the last quarter. Barclays PLC raised its position in shares of Metals Acquisition by 14.6% during the 4th quarter. Barclays PLC now owns 82,780 shares of the company's stock worth $879,000 after purchasing an additional 10,520 shares during the last quarter. Finally, FIL Ltd purchased a new stake in Metals Acquisition in the 4th quarter valued at approximately $442,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

Analyst Upgrades and Downgrades

MTAL has been the subject of a number of analyst reports. National Bank Financial cut Metals Acquisition from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. BMO Capital Markets reiterated a "market perform" rating and set a $12.25 price objective (up previously from $11.00) on shares of Metals Acquisition in a research report on Tuesday, June 3rd. Finally, Scotiabank restated a "sector perform" rating and issued a $13.00 target price on shares of Metals Acquisition in a report on Tuesday, May 27th.

Metals Acquisition Price Performance

Shares of MTAL traded up $0.05 during mid-day trading on Thursday, reaching $12.23. The company had a trading volume of 187,351 shares, compared to its average volume of 358,248. Metals Acquisition Limited has a fifty-two week low of $7.69 and a fifty-two week high of $14.93. The firm has a fifty day simple moving average of $9.91 and a 200-day simple moving average of $10.54. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.

About Metals Acquisition

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.