Lifezone Metals (NYSE:LZM) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up — LZM opened at $5.69 versus a prior close of $5.18 and was last at $5.9020, up about 11.5% on roughly 992,097 shares traded.
• Analyst outlook is mixed — one Buy and one Sell leave a MarketBeat consensus of "Hold" with an average price target of $7.00; Weiss Ratings reaffirmed a "sell (d-)" while BTIG reiterated a $7 target.
• Fundamentals remain weak — the company has negative earnings (PE -1.23), low liquidity (current and quick ratios 0.46), quarterly revenue of $0.37M, and analysts forecast -0.32 EPS for the year.

Lifezone Metals Limited (NYSE:LZM - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $5.18, but opened at $5.69. Lifezone Metals shares last traded at $5.9020, with a volume of 992,097 shares changing hands.

Analyst Upgrades and Downgrades

LZM has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lifezone Metals in a research report on Monday, December 29th. 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. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.00.

Lifezone Metals Trading Up 11.5%

The company has a fifty day simple moving average of $4.08 and a two-hundred day simple moving average of $4.51. 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 company has a market cap of $493.82 million, a PE ratio of -1.23 and a beta of 0.78.

Lifezone Metals (NYSE:LZM - Get Free Report) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $0.37 million during the quarter. Analysts anticipate that Lifezone Metals Limited will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc acquired a new position in shares of Lifezone Metals during the 4th quarter worth about $49,000. Ballentine Partners LLC acquired a new stake in shares of Lifezone Metals in the 3rd quarter valued at about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lifezone Metals in the 3rd quarter valued at about $71,000. Ellevest Inc. acquired a new stake in Lifezone Metals during the 4th quarter worth approximately $59,000. Finally, Virtu Financial LLC acquired a new stake in Lifezone Metals during the 3rd quarter worth approximately $83,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.