MAC Copper Limited (NYSE:MTAL - Get Free Report) saw an uptick in trading volume on Tuesday . 954,219 shares changed hands during trading, an increase of 73% from the previous session's volume of 551,895 shares.The stock last traded at $12.14 and had previously closed at $12.14.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on MTAL. Canaccord Genuity Group downgraded MAC Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 11th. Scotiabank restated a "sector perform" rating and set a $13.00 price objective on shares of MAC Copper in a report on Tuesday, May 27th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $12.25 target price (up previously from $11.00) on shares of MAC Copper in a research report on Tuesday, June 3rd. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.63.
Get Our Latest Analysis on MTAL
MAC Copper Price Performance
The company has a 50 day moving average price of $12.09 and a two-hundred day moving average price of $10.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.45 and a current ratio of 0.58.
Institutional Investors Weigh In On MAC Copper
Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of MAC Copper by 95.9% in the fourth quarter. Bank of America Corp DE now owns 70,389 shares of the company's stock valued at $748,000 after acquiring an additional 34,454 shares in the last quarter. XTX Topco Ltd acquired a new stake in MAC Copper in the first quarter valued at about $249,000. Fourth Sail Capital LP lifted its position in MAC Copper by 1.0% in the first quarter. Fourth Sail Capital LP now owns 5,185,005 shares of the company's stock valued at $49,465,000 after purchasing an additional 49,862 shares during the period. GSA Capital Partners LLP acquired a new stake in MAC Copper in the first quarter valued at about $791,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of MAC Copper in the 4th quarter worth approximately $235,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.
MAC Copper Company Profile
(
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.
Featured Stories
Before you consider MAC Copper, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MAC Copper wasn't on the list.
While MAC Copper currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
