Shares of MAC Copper Limited (NYSE:MTAL - Get Free Report) saw an uptick in trading volume on Tuesday . 954,219 shares traded 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.
Analysts Set New Price Targets
Several research firms have weighed in on MTAL. Scotiabank restated a "sector perform" rating and set a $13.00 target price on shares of MAC Copper in a report on Tuesday, May 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $12.25 price objective (up from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Finally, Canaccord Genuity Group lowered MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.63.
View Our Latest Stock Report on MAC Copper
MAC Copper Stock Performance
The business has a 50-day moving average of $12.08 and a two-hundred day moving average of $10.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.45 and a current ratio of 0.58.
Hedge Funds Weigh In On MAC Copper
Hedge funds have recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new stake in MAC Copper in the 2nd quarter valued at $13,340,000. Qube Research & Technologies Ltd acquired a new position in shares of MAC Copper in the 2nd quarter worth approximately $5,882,000. Groupe la Francaise acquired a new position in shares of MAC Copper in the 2nd quarter worth approximately $3,349,000. Fourth Sail Capital LP boosted its holdings in shares of MAC Copper by 5.2% in the 2nd quarter. Fourth Sail Capital LP now owns 5,456,461 shares of the company's stock worth $65,969,000 after acquiring an additional 271,456 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of MAC Copper in the 2nd quarter worth approximately $3,033,000. 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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