Lifezone Metals (NYSE:LZM) Shares Up 6.9% - What's Next?

Key Points

• Lifezone Metals shares rose 6.9% to $4.34 in mid-day trading, with volume up 44% from the average session.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $7.00 price target; ratings range from Buy to Sell.
• Several institutional investors increased their holdings, including Invesco, Creative Planning, Alps Advisors, Marshall Wace and Russell Investments Group.

Lifezone Metals Limited (NYSE:LZM - Get Free Report)'s share price shot up 6.9% during mid-day trading on Friday . The stock traded as high as $4.37 and last traded at $4.34. Approximately 561,310 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 388,966 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Lifezone Metals to a "hold" rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Lifezone Metals in a report on Tuesday, June 9th. Finally, Wall Street Zen raised Lifezone Metals from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.00.

Lifezone Metals Stock Up 6.9%

The firm has a 50-day moving average of $3.78 and a 200 day moving average of $4.26. The stock has a market capitalization of $365.43 million, a price-to-earnings ratio of -0.93 and a beta of 1.27. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.39.

Institutional Trading of Lifezone Metals

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of Lifezone Metals by 90.9% in the fourth quarter. Invesco Ltd. now owns 2,840,018 shares of the company's stock valued at $12,127,000 after purchasing an additional 1,352,119 shares during the period. Creative Planning increased its stake in Lifezone Metals by 260.7% during the 3rd quarter. Creative Planning now owns 392,957 shares of the company's stock worth $2,153,000 after buying an additional 284,006 shares during the period. Alps Advisors Inc. increased its stake in Lifezone Metals by 135.2% during the 4th quarter. Alps Advisors Inc. now owns 306,780 shares of the company's stock worth $1,310,000 after buying an additional 176,338 shares during the period. Marshall Wace LLP increased its stake in Lifezone Metals by 119.1% during the 4th quarter. Marshall Wace LLP now owns 303,600 shares of the company's stock worth $1,296,000 after buying an additional 165,035 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Lifezone Metals by 200.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 201,680 shares of the company's stock worth $831,000 after buying an additional 134,655 shares in 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. 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source