Wall Street Zen Upgrades Lifezone Metals (NYSE:LZM) to "Hold"

Key Points

• Lifezone Metals has been upgraded from a "sell" to a "hold" rating by Wall Street Zen in a recent research report.
• The stock opened at $4.6950 and has a one-year trading range between $2.90 and $7.29.
• Several institutional investors, including JPMorgan Chase and Wells Fargo, have significantly increased their holdings in Lifezone Metals during the fourth quarter.

Lifezone Metals (NYSE:LZM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

Lifezone Metals Stock Up 3.1%

Shares of LZM traded up $0.14 during mid-day trading on Friday, hitting $4.50. 156,245 shares of the company traded hands, compared to its average volume of 93,707. Lifezone Metals has a 1 year low of $2.90 and a 1 year high of $7.29. The stock has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $4.23.

Hedge Funds Weigh In On Lifezone Metals

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Lifezone Metals by 96.1% in the 4th 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 period. Wells Fargo & Company MN boosted its holdings in shares of Lifezone Metals by 27.7% in the 4th quarter. Wells Fargo & Company MN now owns 21,483 shares of the company's stock valued at $149,000 after buying an additional 4,666 shares in the last quarter. Invesco Ltd. raised its position in shares of Lifezone Metals by 2.5% in the 4th quarter. Invesco Ltd. now owns 693,429 shares of the company's stock valued at $4,819,000 after purchasing an additional 16,685 shares during the last quarter. Barclays PLC raised its position in shares of Lifezone Metals by 14.3% in the 4th quarter. Barclays PLC now owns 54,921 shares of the company's stock valued at $382,000 after purchasing an additional 6,889 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Lifezone Metals by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,890 shares of the company's stock worth $97,000 after buying an additional 2,203 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.