Glencore plc bought a new stake in Metals Acquisition Limited (NYSE:MTAL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 10,000,000 shares of the company's stock, valued at approximately $106,200,000. Metals Acquisition accounts for 12.7% of Glencore plc's investment portfolio, making the stock its 2nd largest holding. Glencore plc owned about 13.50% of Metals Acquisition as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in MTAL. Quadrant Capital Group LLC acquired a new position in shares of Metals Acquisition during the 4th quarter worth approximately $26,000. Signaturefd LLC purchased a new stake in Metals Acquisition in the 4th quarter worth $36,000. Orion Portfolio Solutions LLC acquired a new position in Metals Acquisition during the fourth quarter worth $119,000. Tidal Investments LLC purchased a new position in Metals Acquisition during the third quarter valued at $186,000. Finally, SG Americas Securities LLC grew its position in shares of Metals Acquisition by 12.6% in the fourth quarter. SG Americas Securities LLC now owns 19,959 shares of the company's stock valued at $212,000 after purchasing an additional 2,232 shares during the period. 87.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of Metals Acquisition in a research report on Wednesday, April 16th. They set an "outperform" rating and a $11.00 price target for the company. Scotiabank decreased their target price on Metals Acquisition from $16.00 to $14.50 and set a "sector outperform" rating on the stock in a research report on Monday, January 6th. Finally, National Bank Financial lowered Metals Acquisition from a "strong-buy" rating to a "hold" rating in a research note on Wednesday.
Get Our Latest Stock Report on Metals Acquisition
Metals Acquisition Stock Performance
MTAL traded up $0.08 during trading on Friday, reaching $8.95. The company's stock had a trading volume of 317,025 shares, compared to its average volume of 325,704. The firm has a fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $10.85. Metals Acquisition Limited has a 1 year low of $7.69 and a 1 year high of $15.26. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.
Metals Acquisition Profile
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Free Report)
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.
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