Nuveen LLC Takes $1.27 Million Position in MAC Copper Limited $MTAL

Key Points

• Nuveen LLC has acquired a new stake in MAC Copper Limited, purchasing 133,260 shares valued at approximately $1,271,000, representing 0.16% ownership of the company.
• Multiple hedge funds have increased their holdings in MAC Copper during the 4th quarter, with Invesco Ltd. boosting its holdings by 6.5% and ProShare Advisors LLC increasing theirs by 49.0%.
• Analysts have rated MAC Copper as a "Hold" with an average price target of $12.63, following a downgrade from "strong-buy" by Canaccord Genuity Group.

Nuveen LLC acquired a new position in shares of MAC Copper Limited (NYSE:MTAL - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 133,260 shares of the company's stock, valued at approximately $1,271,000. Nuveen LLC owned 0.16% of MAC Copper at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTAL. Wells Fargo & Company MN grew its stake in shares of MAC Copper by 32.7% during the 4th quarter. Wells Fargo & Company MN now owns 29,837 shares of the company's stock worth $317,000 after purchasing an additional 7,352 shares during the period. Invesco Ltd. grew its stake in MAC Copper by 6.5% in the 4th quarter. Invesco Ltd. now owns 25,755 shares of the company's stock valued at $274,000 after acquiring an additional 1,576 shares during the period. Barclays PLC grew its stake in MAC Copper by 14.6% in the 4th quarter. Barclays PLC now owns 82,780 shares of the company's stock valued at $879,000 after acquiring an additional 10,520 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 valued at $231,000 after acquiring an additional 4,026 shares during the period. Finally, Northern Trust Corp grew 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 valued at $3,601,000 after acquiring an additional 13,164 shares during the period. Institutional investors and hedge funds own 87.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MTAL. Canaccord Genuity Group cut shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 11th. Scotiabank reissued 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, BMO Capital Markets reissued a "market perform" rating and issued a $12.25 price target (up previously from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.63.

MAC Copper Trading Up 0.0%

Shares of MAC Copper stock traded up $0.01 during trading hours on Thursday, reaching $12.16. 153,474 shares of the company's stock were exchanged, compared to its average volume of 567,104. MAC Copper Limited has a 1 year low of $7.69 and a 1 year high of $14.31. The business has a fifty day moving average of $12.08 and a two-hundred day moving average of $10.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.58 and a quick ratio of 0.97.

About MAC Copper

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.