MAC Copper (NYSE:MTAL) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• MAC Copper (NYSE:MTAL) has been given a "Sell (D-)" rating by Weiss Ratings, indicating a pessimistic outlook for the stock.
• The company has seen varied ratings from other brokerages, with a mix of "Strong Buy," "Hold," and "Sell" ratings, resulting in an average rating of "Hold" and a target price of $12.63.
• Institutional investors control 87.47% of MAC Copper's shares, with significant recent increases in stakes from several hedge funds.

MAC Copper (NYSE:MTAL - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently issued reports on MTAL. Canaccord Genuity Group downgraded shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 11th. Zacks Research raised shares of MAC Copper from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.63.

MAC Copper Stock Up 0.1%

NYSE MTAL opened at $12.22 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.58 and a debt-to-equity ratio of 0.68. The firm's fifty day moving average price is $12.15 and its 200 day moving average price is $11.19. MAC Copper has a 12 month low of $7.69 and a 12 month high of $13.88.

Institutional Trading of MAC Copper

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of MAC Copper by 10,692.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company's stock worth $34,000 after acquiring an additional 2,780 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of MAC Copper in the second quarter valued at about $52,000. Russell Investments Group Ltd. lifted its stake in shares of MAC Copper by 56.2% in the second quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company's stock valued at $74,000 after purchasing an additional 2,197 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of MAC Copper by 38.1% in the second quarter. Ameritas Investment Partners Inc. now owns 7,288 shares of the company's stock valued at $88,000 after purchasing an additional 2,011 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of MAC Copper by 256.3% in the second quarter. Signaturefd LLC now owns 10,575 shares of the company's stock valued at $128,000 after purchasing an additional 7,607 shares during the period. Institutional investors and hedge funds own 87.47% of the company's stock.

MAC Copper Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.