MAC Copper Limited (NYSE:MTAL - Get Free Report) saw strong trading volume on Friday . 396,135 shares traded hands during trading, a decline of 23% from the previous session's volume of 511,994 shares.The stock last traded at $12.12 and had previously closed at $12.11.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. National Bank Financial lowered shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Canaccord Genuity Group lowered shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, July 11th. Scotiabank reaffirmed a "sector perform" rating and set a $13.00 target price on shares of MAC Copper in a report on Tuesday, May 27th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $12.25 price objective (up previously from $11.00) on shares of MAC Copper in a research note on Tuesday, June 3rd. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.63.
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MAC Copper Stock Performance
The firm's 50-day moving average price is $12.07 and its two-hundred day moving average price is $10.81. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Water Island Capital LLC acquired a new position in shares of MAC Copper during the 2nd quarter valued at about $806,000. Tidal Investments LLC lifted its position in MAC Copper by 18.8% in the second quarter. Tidal Investments LLC now owns 23,990 shares of the company's stock valued at $290,000 after buying an additional 3,788 shares during the last quarter. BNP Paribas Financial Markets lifted its position in MAC Copper by 222.7% in the second quarter. BNP Paribas Financial Markets now owns 68,053 shares of the company's stock valued at $823,000 after buying an additional 46,966 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in MAC Copper in the second quarter valued at about $13,340,000. Finally, AQR Arbitrage LLC acquired a new position in MAC Copper in the second quarter valued at about $1,221,000. Institutional investors and hedge funds own 87.47% of the company's stock.
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.
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