Renaissance Technologies LLC Increases Holdings in Metalla Royalty & Streaming Ltd. $MTA

Key Points

• Renaissance Technologies increased its Metalla Royalty & Streaming stake by 210.2% in the first quarter, ending with 451,948 shares valued at approximately $3.0 million. Institutional investors and hedge funds collectively own 17.82% of the company.
• Metalla shares rose 4.2% to open at $8.75, near the stock’s $9.25 12-month high. The company has a low debt-to-equity ratio of 0.05 and a current ratio of 3.45.
• Analyst sentiment remains a “Moderate Buy,” though Scotiabank lowered its price target from $9.00 to $8.50 and maintained a “sector perform” rating; the consensus price target is $8.50.

Renaissance Technologies LLC lifted its position in shares of Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - Free Report) by 210.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 451,948 shares of the company's stock after buying an additional 306,248 shares during the quarter. Renaissance Technologies LLC owned approximately 0.48% of Metalla Royalty & Streaming worth $2,996,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Global Strategic Management Inc. purchased a new position in Metalla Royalty & Streaming during the 4th quarter valued at about $16,183,000. Mackenzie Financial Corp lifted its holdings in shares of Metalla Royalty & Streaming by 1,657.8% in the fourth quarter. Mackenzie Financial Corp now owns 731,231 shares of the company's stock valued at $5,557,000 after purchasing an additional 689,631 shares in the last quarter. Sprott Inc. grew its position in shares of Metalla Royalty & Streaming by 91.8% in the fourth quarter. Sprott Inc. now owns 1,415,520 shares of the company's stock valued at $11,013,000 after purchasing an additional 677,311 shares during the last quarter. U S Global Investors Inc. grew its position in shares of Metalla Royalty & Streaming by 75.9% in the fourth quarter. U S Global Investors Inc. now owns 1,432,510 shares of the company's stock valued at $11,145,000 after purchasing an additional 617,923 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of Metalla Royalty & Streaming by 2,106.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 387,567 shares of the company's stock worth $3,015,000 after purchasing an additional 369,998 shares in the last quarter. 17.82% of the stock is owned by institutional investors and hedge funds.

Metalla Royalty & Streaming Trading Up 4.2%

Shares of MTA stock opened at $8.75 on Friday. The firm has a 50-day moving average price of $7.43 and a 200 day moving average price of $7.45. Metalla Royalty & Streaming Ltd. has a twelve month low of $4.09 and a twelve month high of $9.25. The company has a market capitalization of $818.12 million, a price-to-earnings ratio of -218.75 and a beta of 1.35. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.05.

Analyst Ratings Changes

Separately, Scotiabank reduced their target price on Metalla Royalty & Streaming from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

Metalla Royalty & Streaming Company Profile

Metalla Royalty & Streaming Ltd. is a Canada‐based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non‐dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.

Want to see what other hedge funds are holding MTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source