MAC Copper (NYSE:MTAL) Sees Strong Trading Volume - Time to Buy?

Key Points

• MAC Copper Limited experienced a significant trading volume increase of 339%, with 2,547,901 shares traded on Monday compared to the previous session.
• Analysts have a consensus rating of "Hold" for MTAL shares, with price targets ranging from $12.25 to $13.00.
• Institutional investors hold 87.47% of MAC Copper's stock, indicating strong institutional interest and involvement in the company.

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.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTAL shares. Canaccord Genuity Group downgraded MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 11th. BMO Capital Markets reiterated a "market perform" rating and set a $12.25 price target (up previously from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Finally, Scotiabank reiterated a "sector perform" rating and set a $13.00 price target on shares of MAC Copper in a research note on Tuesday, May 27th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.63.

MAC Copper Stock Down 0.2%

The firm has a 50 day simple moving average of $12.10 and a 200 day simple moving average of $10.95. The company has a quick ratio of 0.45, a current ratio of 0.58 and a debt-to-equity ratio of 0.68.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 2,780 shares during the period. Wolverine Asset Management LLC bought a new position in MAC Copper in the 2nd quarter worth about $52,000. Russell Investments Group Ltd. boosted its stake 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 stake in MAC Copper by 38.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,288 shares of the company's stock worth $88,000 after purchasing an additional 2,011 shares during the period. Finally, Signaturefd LLC boosted its stake in MAC Copper by 256.3% in the 2nd 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 period. Institutional investors 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.