MAC Copper Limited (NYSE:MTAL - Get Free Report) saw strong trading volume on Friday . 396,135 shares changed hands during mid-day 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
Several research firms have issued reports on MTAL. National Bank Financial downgraded MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Scotiabank restated a "sector perform" rating and set a $13.00 price target on shares of MAC Copper in a report on Tuesday, May 27th. Canaccord Genuity Group lowered shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 11th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $12.25 price objective (up from $11.00) on shares of MAC Copper in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $12.63.
Read Our Latest Research Report on MTAL
MAC Copper Stock Up 0.0%
The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $12.07 and a 200-day moving average of $10.80.
Hedge Funds Weigh In On MAC Copper
A number of hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in MAC Copper by 10,692.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company's stock worth $34,000 after acquiring an additional 2,780 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of MAC Copper in the 2nd quarter valued at $52,000. Russell Investments Group Ltd. boosted its holdings in MAC Copper by 56.2% in the second 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 in the last quarter. 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 during the last quarter. Finally, Signaturefd LLC increased its position in 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 buying an additional 7,607 shares during the last quarter. Institutional investors and hedge funds own 87.47% of the company's stock.
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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