Sprott Inc. Trims Position in MAC Copper Limited $MTAL

Key Points

• Sprott Inc. reduced its stake in MAC Copper Limited by selling 44,506 shares, representing a 3.4% decrease in ownership, resulting in approximately 1.54% of the company valued at $12.1 million.
• Institutional investors currently hold 87.47% of MAC Copper's shares, indicating significant financial backing from large firms like Glencore plc and Millennium Management LLC.
• Analyst ratings for MAC Copper have shifted, with recent downgrades placing the stock at a consensus "Hold" rating and a target price range of $12.25 to $13.00 as per varying brokerage reports.

Sprott Inc. lessened its stake in shares of MAC Copper Limited (NYSE:MTAL - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,269,599 shares of the company's stock after selling 44,506 shares during the quarter. Sprott Inc. owned about 1.54% of MAC Copper worth $12,112,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MTAL. ProShare Advisors LLC increased its holdings in shares of MAC Copper by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock valued at $161,000 after acquiring an additional 4,990 shares during the period. Tidal Investments LLC increased its holdings in shares of MAC Copper by 33.6% in the 4th quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock valued at $191,000 after acquiring an additional 4,524 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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. Squarepoint Ops LLC acquired a new position in shares of MAC Copper in the 4th quarter valued at $235,000. Finally, XTX Topco Ltd acquired a new position in shares of MAC Copper in the 1st quarter valued at $249,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Scotiabank reaffirmed a "sector perform" rating and issued a $13.00 target price on shares of MAC Copper in a report on Tuesday, May 27th. National Bank Financial cut shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $12.25 target price (up from $11.00) on shares of MAC Copper in a report on Tuesday, June 3rd. Finally, Canaccord Genuity Group cut shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, July 11th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, MAC Copper presently has an average rating of "Hold" and an average target price of $12.63.

MAC Copper Trading Up 0.1%

Shares of NYSE MTAL traded up $0.02 on Wednesday, hitting $12.15. The company's stock had a trading volume of 151,012 shares, compared to its average volume of 538,801. MAC Copper Limited has a 12-month low of $7.69 and a 12-month high of $14.31. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $12.07 and a 200-day moving average of $10.85.

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.