XTX Topco Ltd Buys Shares of 26,149 MAC Copper Limited (NYSE:MTAL)

Key Points

• XTX Topco Ltd invested $249,000 in MAC Copper Limited (NYSE:MTAL) by acquiring 26,149 shares in the first quarter of the year.
• Other significant institutional investments include Glencore plc, which acquired a stake worth approximately $106.2 million, and Millennium Management LLC, which increased its stake by 11.2%.
• Analysts have recently downgraded MAC Copper's rating, with Canaccord Genuity Group and National Bank Financial both lowering their ratings from "strong-buy" to "hold".

XTX Topco Ltd purchased a new stake in MAC Copper Limited (NYSE:MTAL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 26,149 shares of the company's stock, valued at approximately $249,000.

A number of other large investors also recently made changes to their positions in the business. Invesco Ltd. lifted its stake in shares of MAC Copper by 6.5% during the 4th 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. Price T Rowe Associates Inc. MD grew its stake 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. Tidal Investments LLC grew its stake in shares of MAC Copper by 33.6% during 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. ProShare Advisors LLC grew its stake 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 valued at $161,000 after buying an additional 4,990 shares during the period. Finally, 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 valued at $317,000 after buying an additional 7,352 shares during the period. Hedge funds and other institutional investors own 87.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MTAL shares. National Bank Financial cut shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. BMO Capital Markets reissued 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. 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. Finally, Scotiabank restated a "sector perform" rating and set a $13.00 target price on shares of MAC Copper in a report on Tuesday, May 27th.

MAC Copper Stock Up 0.1%

MAC Copper stock traded up $0.01 during trading on Wednesday, reaching $12.13. 1,603,181 shares of the company's stock were exchanged, compared to its average volume of 708,735. The company's 50-day moving average is $12.08 and its two-hundred day moving average is $10.76. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 0.63. MAC Copper Limited has a 52-week low of $7.69 and a 52-week high of $14.31.

MAC Copper 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.