Lifezone Metals (NYSE:LZM) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Lifezone Metals (NYSE:LZM) from hold to sell, adding a bearish note to the stock’s analyst coverage.
• Despite the downgrade, the broader analyst view is mixed: BTIG Research kept a buy rating with a $7.00 price target, while Zacks Research recently moved the stock to hold. The consensus rating remains Hold with an average price target of $7.00.
• Lifezone Metals reported a Q1 EPS loss of $0.04 on just $0.37 million in revenue, and analysts expect a -$0.29 EPS for the current fiscal year. The company, which focuses on lower-carbon metals for EV and battery markets, had shares open at $5.93 and a market cap of about $506.65 million.

Lifezone Metals (NYSE:LZM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other equities analysts have also issued reports about the company. BTIG Research reiterated a "buy" rating and set a $7.00 price objective on shares of Lifezone Metals in a research report on Friday, March 20th. Zacks Research upgraded Lifezone Metals to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.00.

Lifezone Metals Price Performance

Shares of Lifezone Metals stock opened at $5.93 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $506.65 million, a PE ratio of -1.27 and a beta of 1.26. The business's 50-day moving average price is $4.25 and its 200-day moving average price is $4.46. Lifezone Metals has a 12 month low of $3.06 and a 12 month high of $6.40.

Lifezone Metals (NYSE:LZM - Get Free Report) last announced its quarterly earnings data on Friday, March 20th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $0.37 million during the quarter. Sell-side analysts forecast that Lifezone Metals will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lifezone Metals

Several institutional investors and hedge funds have recently bought and sold shares of LZM. Renaissance Technologies LLC bought a new stake in shares of Lifezone Metals during the fourth quarter valued at approximately $95,000. Deutsche Bank AG boosted its position in shares of Lifezone Metals by 32.2% during the fourth quarter. Deutsche Bank AG now owns 31,982 shares of the company's stock valued at $137,000 after purchasing an additional 7,781 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Lifezone Metals during the third quarter valued at approximately $71,000. Virtu Financial LLC bought a new stake in shares of Lifezone Metals during the third quarter valued at approximately $83,000. Finally, Intech Investment Management LLC boosted its position in shares of Lifezone Metals by 23.0% during the third quarter. Intech Investment Management LLC now owns 20,795 shares of the company's stock valued at $114,000 after purchasing an additional 3,894 shares in the last quarter.

Lifezone Metals Company Profile

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company's products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania. The company is based in Ramsey, Isle of Man.

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