MAC Copper Limited (NYSE:MTAL) Receives Average Recommendation of "Hold" from Analysts

Key Points

• MAC Copper Limited (NYSE:MTAL) has received a consensus rating of "Hold" from analysts, with one sell, four hold, and one strong buy recommendation.
• The average 12-month price objective among brokerages for MAC Copper is $12.6250, reflecting a mix of evaluations from different analysts.
• Institutional ownership of MAC Copper is significant, with 87.47% of the stock held by hedge funds and institutional investors, showcasing strong institutional interest.

Shares of MAC Copper Limited (NYSE:MTAL - Get Free Report) have been assigned a consensus rating of "Hold" from the six brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.6250.

A number of brokerages have issued reports on MTAL. Zacks Research raised shares of MAC Copper from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. Canaccord Genuity Group cut shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MAC Copper in a report on Saturday, September 27th.

MAC Copper Stock Performance

Shares of MAC Copper stock traded up $0.02 during trading hours on Friday, hitting $12.22. The company's stock had a trading volume of 705,742 shares, compared to its average volume of 1,142,734. The business has a 50 day moving average price of $12.15 and a two-hundred day moving average price of $11.16. MAC Copper has a 12-month low of $7.69 and a 12-month high of $14.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.58 and a quick ratio of 0.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in MAC Copper by 10,692.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company's stock valued at $34,000 after purchasing an additional 2,780 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in MAC Copper during the second quarter worth $52,000. Russell Investments Group Ltd. raised its position in MAC Copper by 56.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company's stock worth $74,000 after purchasing an additional 2,197 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in MAC Copper by 38.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,288 shares of the company's stock valued at $88,000 after acquiring an additional 2,011 shares during the period. Finally, Signaturefd LLC lifted its position in shares of MAC Copper by 256.3% during the second quarter. Signaturefd LLC now owns 10,575 shares of the company's stock worth $128,000 after purchasing an additional 7,607 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

About MAC Copper

Metals Acquisition Limited focuses on mining and production of copper and silver. It operates the CSA copper mine in Cobar, Australia. The company was incorporated in 2022 and is headquartered in Saint Helier, Jersey.

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