XTX Topco Ltd Purchases New Stake in 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 bought a new position in shares of MAC Copper Limited (NYSE:MTAL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,149 shares of the company's stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in MAC Copper during the first quarter worth approximately $791,000. Squarepoint Ops LLC acquired a new position in MAC Copper during the fourth quarter worth approximately $235,000. Tidal Investments LLC increased its position in MAC Copper by 33.6% during the fourth 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. SailingStone Capital Partners LLC increased its position in MAC Copper by 3.9% during the fourth quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company's stock worth $27,967,000 after buying an additional 98,925 shares during the period. Finally, ProShare Advisors LLC increased its position in MAC Copper by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock worth $161,000 after buying an additional 4,990 shares during the period. Institutional investors and hedge funds own 87.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $12.25 price target (up previously from $11.00) on shares of MAC Copper in a research report on Tuesday, June 3rd. National Bank Financial downgraded MAC Copper 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 target price on shares of MAC Copper in a research note on Tuesday, May 27th. Finally, Canaccord Genuity Group downgraded MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 11th.

MAC Copper Trading Up 0.1%

Shares of MTAL stock traded up $0.01 during midday trading on Friday, hitting $12.12. The company had a trading volume of 920,299 shares, compared to its average volume of 786,703. The company's 50 day simple moving average is $12.07 and its 200 day simple moving average is $10.78. MAC Copper Limited has a 52-week low of $7.69 and a 52-week high of $14.31. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63.

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.