MAC Copper (NYSE:MTAL) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Analysts at Zacks Research have upgraded MAC Copper (NYSE:MTAL) from a "hold" to a "strong-buy" rating, indicating increased confidence in the company's performance.
• BMO Capital Markets has adjusted its price target for MAC Copper to $12.25, while the stock currently holds a consensus rating of "Hold" with an average price target of $12.63.
• Institutional investors retain significant ownership of MAC Copper, with 87.47% of the stock being held by institutions, reflecting strong interest in the company.

MAC Copper (NYSE:MTAL - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets restated a "market perform" rating and issued a $12.25 target price (up previously from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Canaccord Genuity Group lowered MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.63.

MAC Copper Stock Performance

MTAL stock opened at $12.21 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.45 and a debt-to-equity ratio of 0.68. MAC Copper has a 52-week low of $7.69 and a 52-week high of $14.31. The business has a 50-day simple moving average of $12.13 and a two-hundred day simple moving average of $11.10.

Hedge Funds Weigh In On MAC Copper

A number of institutional investors have recently bought and sold shares of MTAL. Bank of America Corp DE increased its stake in shares of MAC Copper by 95.9% during the fourth quarter. Bank of America Corp DE now owns 70,389 shares of the company's stock valued at $748,000 after purchasing an additional 34,454 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of MAC Copper by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock valued at $161,000 after purchasing an additional 4,990 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of MAC Copper by 33.6% during the fourth quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock valued at $191,000 after buying an additional 4,524 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of MAC Copper during the fourth quarter valued at approximately $235,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of MAC Copper during the first quarter valued at approximately $791,000. 87.47% of the stock is owned by institutional investors.

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.

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