Lifezone Metals (NYSE:LZM) Rating Lowered to Sell at Wall Street Zen

Key Points

• Lifezone Metals has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting analysts' negative outlook on the stock.
• The stock opened at $4.55 and has a range from a fifty-two week low of $2.90 to a high of $7.29.
• Several hedge funds, including JPMorgan Chase and Russell Investments Group, significantly increased their stakes in Lifezone Metals during the fourth quarter.

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

Lifezone Metals Price Performance

Shares of NYSE:LZM traded down $0.01 during mid-day trading on Friday, reaching $4.33. 45,211 shares of the company's stock were exchanged, compared to its average volume of 96,724. The business's fifty day moving average price is $4.39 and its 200-day moving average price is $4.30. Lifezone Metals has a twelve month low of $2.90 and a twelve month high of $7.29.

Hedge Funds Weigh In On Lifezone Metals

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in shares of Lifezone Metals by 22.9% during the first quarter. Rhumbline Advisers now owns 44,971 shares of the company's stock worth $188,000 after purchasing an additional 8,376 shares during the period. Deutsche Bank AG lifted its holdings in shares of Lifezone Metals by 33.7% during the fourth quarter. Deutsche Bank AG now owns 29,315 shares of the company's stock worth $204,000 after purchasing an additional 7,389 shares during the period. Tidal Investments LLC acquired a new position in shares of Lifezone Metals during the fourth quarter worth $527,000. Invesco Ltd. raised its stake in Lifezone Metals by 2.5% during the fourth quarter. Invesco Ltd. now owns 693,429 shares of the company's stock worth $4,819,000 after buying an additional 16,685 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Lifezone Metals by 96.1% during the fourth quarter. JPMorgan Chase & Co. now owns 133,356 shares of the company's stock worth $927,000 after buying an additional 65,340 shares during the last quarter.

About Lifezone Metals

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.