MAC Copper Limited (NYSE:MTAL - Get Free Report) saw an uptick in trading volume on Monday . 2,547,901 shares were traded during trading, an increase of 339% from the previous session's volume of 580,857 shares.The stock last traded at $12.16 and had previously closed at $12.16.
Analyst Ratings Changes
A number of equities analysts recently commented on MTAL shares. BMO Capital Markets reissued a "market perform" rating and issued a $12.25 price objective (up previously from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Scotiabank reiterated a "sector perform" rating and issued a $13.00 price objective on shares of MAC Copper in a research report on Tuesday, May 27th. Finally, 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. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.63.
Read Our Latest Stock Report on MTAL
MAC Copper Stock Up 0.1%
The firm's fifty day moving average is $12.09 and its 200 day moving average is $10.90. The company has a current ratio of 0.58, a quick ratio of 0.45 and a debt-to-equity ratio of 0.68.
Hedge Funds Weigh In On MAC Copper
Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in MAC Copper by 10,692.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company's stock valued at $34,000 after buying an additional 2,780 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of MAC Copper in the 2nd quarter valued at about $52,000. Russell Investments Group Ltd. lifted its holdings in shares of MAC Copper by 56.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company's stock valued at $74,000 after buying an additional 2,197 shares during the period. Ameritas Investment Partners Inc. increased its position in MAC Copper by 38.1% during the second quarter. Ameritas Investment Partners Inc. now owns 7,288 shares of the company's stock worth $88,000 after buying an additional 2,011 shares in the last quarter. Finally, Signaturefd LLC lifted its stake 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 in the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.
About MAC Copper
(
Get Free Report)
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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