Metals Acquisition Limited (NYSE:MTAL) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Metals Acquisition Limited (NYSE:MTAL - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 849,858 shares of the company's stock after selling 59,730 shares during the quarter. Wellington Management Group LLP owned about 1.15% of Metals Acquisition worth $9,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC purchased a new position in Metals Acquisition during the 4th quarter valued at about $26,000. Signaturefd LLC purchased a new position in Metals Acquisition during the 4th quarter valued at about $36,000. Orion Portfolio Solutions LLC purchased a new position in shares of Metals Acquisition in the 4th quarter valued at about $119,000. ProShare Advisors LLC boosted its stake in shares of Metals Acquisition 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 buying an additional 4,990 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Metals Acquisition 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 buying an additional 4,524 shares during the period. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Metals Acquisition Stock Performance

Shares of NYSE MTAL traded up $0.16 during midday trading on Wednesday, hitting $12.33. 897,997 shares of the company's stock were exchanged, compared to its average volume of 358,468. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. Metals Acquisition Limited has a twelve month low of $7.69 and a twelve month high of $14.93. The firm's fifty day simple moving average is $9.54 and its 200-day simple moving average is $10.52.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTAL. National Bank Financial cut Metals Acquisition from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Scotiabank reiterated a "sector perform" rating and issued a $13.00 price objective on shares of Metals Acquisition in a research note on Tuesday, May 27th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $12.25 price objective (up previously from $11.00) on shares of Metals Acquisition in a research note on Tuesday.

Metals Acquisition 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.