Sprott Inc. Has $12.11 Million Stock 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. decreased its holdings in shares of MAC Copper Limited (NYSE:MTAL - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC lifted its position in shares of MAC Copper by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock worth $161,000 after purchasing an additional 4,990 shares during the last quarter. Tidal Investments LLC raised its position 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 worth $191,000 after buying an additional 4,524 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MAC Copper by 22.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,679 shares of the company's stock valued at $231,000 after buying 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 approximately $235,000. Finally, Invesco Ltd. raised its holdings in shares of MAC Copper by 6.5% during the fourth quarter. Invesco Ltd. now owns 25,755 shares of the company's stock worth $274,000 after purchasing an additional 1,576 shares during the period. 87.47% of the stock is currently owned by institutional investors and hedge funds.

MAC Copper Stock Performance

NYSE MTAL traded up $0.02 on Monday, hitting $12.13. 899,861 shares of the company were exchanged, compared to its average volume of 539,525. The company's 50 day moving average price is $12.06 and its 200-day moving average price is $10.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.12 and a quick ratio of 0.97. MAC Copper Limited has a twelve month low of $7.69 and a twelve month high of $14.31.

Analysts Set New Price Targets

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

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.