10,000,000 Shares in Metals Acquisition Limited (NYSE:MTAL) Bought by Glencore plc

Glencore plc bought a new position in Metals Acquisition Limited (NYSE:MTAL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,000,000 shares of the company's stock, valued at approximately $106,200,000. Metals Acquisition comprises approximately 12.7% of Glencore plc's holdings, making the stock its 2nd biggest holding. Glencore plc owned 13.50% of Metals Acquisition as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Metals Acquisition by 4.0% in the fourth quarter. Northern Trust Corp now owns 339,081 shares of the company's stock worth $3,601,000 after buying an additional 13,164 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Metals Acquisition by 22.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,679 shares of the company's stock worth $231,000 after purchasing an additional 4,026 shares during the period. Barclays PLC lifted its position in Metals Acquisition by 14.6% in the fourth quarter. Barclays PLC now owns 82,780 shares of the company's stock valued at $879,000 after purchasing an additional 10,520 shares during the last quarter. FIL Ltd bought a new stake in Metals Acquisition in the fourth quarter valued at approximately $442,000. Finally, Invesco Ltd. boosted its stake in shares of Metals Acquisition by 6.5% during the fourth quarter. Invesco Ltd. now owns 25,755 shares of the company's stock valued at $274,000 after purchasing an additional 1,576 shares during the period. 87.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BMO Capital Markets began 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. National Bank Financial lowered shares of Metals Acquisition from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Scotiabank reduced their price target on Metals Acquisition from $16.00 to $14.50 and set a "sector outperform" rating on the stock in a report on Monday, January 6th.

Metals Acquisition Trading Up 0.9 %

Metals Acquisition stock traded up $0.08 during mid-day trading on Friday, reaching $8.95. 317,025 shares of the company traded hands, compared to its average volume of 326,529. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. Metals Acquisition Limited has a 52-week low of $7.69 and a 52-week high of $15.26. The firm's 50 day moving average price is $9.50 and its 200 day moving average price is $10.84.

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.